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Customer Relationship Management (CRM)

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Similar or Alternative Terms Meaning the Same Thing NA
Related Term(s) Closed-Loop Marketing (CLM), Multi-Channel Marketing (MCM)

Definitions

Customer relationship management is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data.

The CRM approach tries to analyze data about customers' history with a company, in order to better improve business relationships with customers, specifically focusing on retaining customers, in order to drive sales growth. One important aspect of the CRM approach is the systems of CRM that compile information from a range of different channels, including a company's website, telephone, email, live chat, marketing materials, social media, and more.

Reprints: "Customer Relationship Management (CRM)"


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