Customer relationship management (CRM) is a widely implemented model 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, service and retain those the company already has, entice former clients to return, and reduce the costs of marketing and client service. Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments. Measuring and valuing customer relationships is critical to implementing this strategy.
Read more about Customer Relationship Management: Benefits of Customer Relationship Management, Challenges, Fragmentation, Development, Market Structures, Related Trends
Famous quotes containing the words customer, relationship and/or management:
“A good customer should not change his shop, nor a good shop change its customers.”
—Chinese proverb.
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—Lyndon Baines Johnson (1908–1973)