Research Topics:

Customer Loyalty | Customer Satisfaction Studies | CX/UX-Customer/User Experience

Content Type:

Glossary

Customer Relationship Management (CRM) Definition

Customer relationship management, or CRM, are the strategies, technologies and practices that businesses use to manage and analyze relationships with current and future customers.

Customer relationship management, or CRM, are the strategies, technologies and practices that businesses use to manage and analyze relationships with current and future customers. This process includes collecting, organizing and leveraging customer data to learn more about customer preferences, behaviors and needs. CRM follows a philosophy that customer needs are central to the decision-making process of a business. Key to CRM is tracking customer behavior in order to develop marketing and relationship-building processes that bond the consumer to the brand. That can achieve maximum customer lifetime value. What’s more, CRM facilitates personalized interactions that are critical in today's customer-centric landscape. CRM empowers businesses to build stronger relationships, enhance brand loyalty and achieve sustainable growth.

Who relies on customer relationship management (CRM)?

Marketing teams, sales departments, customer service representatives and top-level executives use CRM insights to make decisions, create targeted campaigns, improve customer satisfaction and drive business growth.

Why should I care about customer relationship management (CRM)?

CRM in marketing research provides businesses with actionable insights on customer preferences and behaviors that can be used to create marketing campaigns that resonate better in the marketplace. These efforts can lead to greater customer satisfaction and better business performance.