The meaning of “Customer Relationship Management

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The term Customer Relationship Management can be understood in three ways:

A Strategy: As a business philosophy, CRM refers to how a company approaches managing interactions with its customers and potential customers. It emphasizes building strong relationships and providing exceptional customer service.
A Process: CRM can refer to the cfo email lists specific actions and methods a business uses to manage customer interactions. It includes things like sales pipeline management, customer service processes, and marketing automation.
A technology: Most often, CRM refers to a type of software system that helps businesses manage customer data and interactions. CRM software centralizes customer information, automates tasks, and provides insights to improve customer relationships.
Overall, CRM is a big-picture strategy and a set of tools to implement that strategy. Through building customer relationships and strengthening the bonds, CRM software drives sales and grows your businesses.

What is NOT a CRM?
While CRM is often all-in-once customer-centric systems, it's important to note that there are many things that CRM software is not designed to do:

CRM is not an accounting software and it cannot handle core accounting tasks. However, some CRM tools integrate accounting software for customer invoicing.
CRM is not an inventory system , and it cannot manage a business's inventory levels.
CRM is not a customer satisfaction survey and it's not designed to analyze these surveys. Some CRM systems integrate basic survey tools, but you shouldn't expect to see the whole picture.