Consumer Relationship Management (CRM) is the combination of practices, strategies, and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle. The primary goal of CRM is to improve customer service relationships, assist with customer retention, and drive sales growth. CRM systems compile customer data across different channels and points of contact between the customer and the company, providing customer-facing staff with detailed data on customers' personal information, purchase history, buying preferences, and concerns.
Best practices for effective CRM usage include:
CRM primarily deals with managing and analyzing customer data throughout the customer lifecycle to improve service relationships, retention, and sales growth.
On the other hand, CEM aims to optimize the overall customer experience by understanding and addressing customer needs, expectations, and preferences at every touchpoint.
CRM systems consist of several essential components that work together to streamline customer interactions and improve business processes. These components include:
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