CRM -Customer Relationship Management
CRM describes all aspects of sales, marketing and service-related interactions that a company has with its customers or potential customers. Both business-to-consumer (B2C) and business-to-business (B2B) companies often use CRM systems to track and manage communications through the Web, email telephone, mobile apps, chat, social media, and marketing materials.
Information tracked in a CRM system might include contacts, sales leads, clients, demographic or firmographic data, sales history, technical support and service requests, and more. CRM systems can also automate many marketing, sales, and support processes, helping companies provide a consistent experience to customers and prospects, while also lowering their costs.
Some CRM solutions also offer advanced analytics that offers suggested next steps for staff when dealing with a particular customer or contact. Business leaders can also use this analytics to measure the effectiveness of their current marketing, sales, and support efforts and to optimize their various business processes.