CRM stands for Customer Relationship Management. It is a way for businesses to keep track of their customer data and interactions with them. The purpose of a CRM is to understand customers of a business or company and allow easy communication between the two. This is important for businesses because having a strong relationship with your customer base and knowing what your customer base is allows for a stronger company. Knowing your customers can allow for you to be able to service them more efficiently and effectively.
The people that use CRMs are companies and organizations that want to know more, strategically, about their customer base. They look through data of customers they have and future potential customers to be able to know what products or services to sell. CRMs are also useful for interacting with customers by sending email campaigns, sharing websites, or through mobile marketing and advertising. But usually it is the company itself that is using the CRM technology to be able to find what customers to interact with.
Building trust and strengthening relationships with customers is imperative for companies to obtain loyalty from their customers. Customer relationship management, CRM, can be used by companies or organizations to form better relationships with customers, personalize customer and business communications, and improve customer service.
I strongly agree that healthy relationships with customers is one of the most important facets of managing a business.