Customer relationship management – CRM – is a widely-implemented strategy for managing a company’s interactions with customers clients and sales prospects.
It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service and technical support.
The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, and thereby reduce the costs of marketing and customer service.
Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments.
We like this definition – CRM is:
“Enhancing relationships with prospects and customers
for the benefit of long-term customer retention”