What is CRM?

Many people have heard the term CRM but some are not sure what it means. CRM stands for Customer Relationship Management. There is no agreed definition, but it is a blend of operational processes, methodologies and technologies that helps organisations create two-way interactions with customers, thereby enabling them to better understand and anticipate the behaviours, needs and wants of existing and potential customers. 

Sales, marketing and customer service are just three of the functions that operate within the CRM framework, simultaneously drawing information from the customer database to facilitate interactions and also feeding new details gleaned from the contact back into the system - whether this be feedback, buying behaviour, etc