Customer relationship management (CRM) describes a management strategy of focussing all functions of a company on customers requirements. That includes especially all sales activities, but also marketing, customer service and technical support. 1)
The longterm target of CRM is customer bonding and satisfaction. To achieve this target companies personalise their customer service and advertisment. Therefore, they need an actual database of their customers datas.
CRM gives businesses a clear vision of how the business is performing on a client standpoint. CRM enables businesses to perform well-informed decisions and mitigate risks. 2)