Sales Dictionary
CRM (Customer Relationship Management)
Definition
Technology for managing all your company's relationships and interactions with customers and potential customers.
Deep Dive
CRM, or Customer Relationship Management, refers to a technology system designed to manage and analyze customer interactions and data throughout the customer lifecycle. Its primary goal is to improve business relationships with customers, assist in customer retention, and drive sales growth. A CRM system compiles customer data from a range of channels — including a company's website, telephone, email, live chat, social media, and marketing materials — into a centralized database, providing a comprehensive and holistic view of each customer.
Examples & Use Cases
- 1A sales team uses Salesforce to track leads, manage opportunities, log calls, and automate follow-up emails.
- 2A marketing department employs HubSpot CRM to segment customer lists, run targeted email campaigns, and monitor campaign performance.
- 3A customer support team utilizes Zendesk's CRM features to access customer history and provide personalized, efficient service during inquiries.
Related Terms
Sales AutomationMarketing AutomationCustomer Data Platform (CDP)