CRM stands for Customer Relationship Management. It refers to the tools, strategies, and practices that businesses use to manage and analyze customer interactions and data throughout the customer lifecycle. CRM systems help businesses track customer information, manage sales and marketing campaigns, provide customer service, and analyze customer behavior.
CRM is important because it helps businesses to:
– Improve customer satisfaction and loyalty
– Increase sales and profitability
– Gain insights into customer behavior
– Improve customer service
– Make better decisions