Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth. CRM systems are designed to compile information on customers across different channels -- or points of contact between the customer and the company -- which could include the company's website, telephone, live chat, direct mail, marketing materials and social media. CRM systems can also give customer-facing staff detailed information on customers' personal information, purchase history, buying preferences and concerns. Know Thy Customer: "Sales Analytics, Forecasting and New Tools" .
Customer data analytics can reap significant financial rewards for your organization’s sales, marketing and customer service departments. With so much data to contend with, companies often struggle with making sense of information from customers, public records and external databases. Luckily, we evaluate the newest sales and marketing tools making the process easier for IT managers and sales executives.
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