Customer Relationship Management (CRM)

CRM meaning

CRM stands for Customer Relationship Management, and it refers to a software or system that allows businesses to track and organize customer data. It is mainly used by sales teams to record information about its current or historic leads or customers and any interactions that take place.

CRM software will allow users to capture customer contact information, like email, phone number, website and social media profiles. It can also automatically pull other information, such as company size or recent news. Moreover, a CRM system will allow you to track the customer journey over time by recording their interactions with your business.

CRM benefits

There are many benefits associated with automating customer relationship management with CRM software. Having a robust CRM system will make any sales process more informed and efficient. Sales reps will be able to access customer data quickly, enabling them to make better decisions. A CRM is an efficient and reliable way to collect customer data and give real-time prompts to sales teams to initiate each phase of the sales cycle. Some systems also allow users to automate marketing actions which will help create positive customer journeys, leading to more conversions whilst saving time.

CRM example companies

• Salesforce - Increase sales performance with the world's No. 1 CRM platform for business of all sizes.
• Hubspot - Seamlessly connect your data, teams, and customers on one CRM platform that grows with your business.
• Pipedrive - Drive more revenue with Pipedrive