What is CRM?
Customer relationship management (CRM) is a multifacted process, mediated by a set of information technologies, that focuses on creating two-way exchanges with customers so that firms have an intimate knowledge of their needs, wants, and buying patterns. In this way, CRM is intended to help companies understand, as well as anticipate, the needs of current and potential customers. Functions that support this business purpose include sales, marketing, customer service, training, professional development, performance management, human resource development, and compensation.
CRM stands for Customer Relationship Management. There is a whole industry of CRM software providers who sell software that an organization uses to glean important customer data; powerful enough to dermine who your middle market is, as well as, a specific demographic (age, sex, race) group and identify their customer buying or spending habits. CRM software as part of a website (Amazon does this) enables the websites to be smart, remembering the visitors buying habits and suggesting similar products. CRM Data enables us to define the intended audience of a website.
