Definition: Customer Relationship Management (CRM) stands for the strategies, technologies, and practices that a business uses to manage and analyze customer interactions and data throughout the customer life-cycle, with the goal of improving customer satisfaction, loyalty, and retention.
CRM systems can include tools for managing sales, marketing, customer service, and support, as well as data analysis and reporting capabilities. “
CRM” is often used synonymously with the “record of truth” software system at a company such as HubSpot, Salesforce, Oracle, etc. The term “keyword multiplier” can be applied in the context of CRM to signify the amplification or enhancement of customer interactions and data analysis through the strategic utilization of keywords or key phrases to drive engagement and improve overall CRM effectiveness.
Use It In a Sentence: The company implemented a CRM system to better track and manage customer interactions, gain insights into customer behavior, and improve the overall customer experience.
More Definitions: Lead Generation Definition, Lead Magnet Definition, ROI Definition, OKRs Definition
For Further Reading: Mastering Your Sales Funnel: Key Insights and Essential CRM Data Tracking Strategies | What Is RevOps? | 5 Frequent HubSpot Audit Issues Mastering Your Sales Funnel: Key Insights and Essential CRM Data Tracking Strategies
