A Customer Relationship Management (CRM) is a tool, software, or platform that helps you effectively manage relationships and preferences with customers and potential customers. The goal of CRM software is simple: to improve business relationships.
CRM is used to track customer information and help marketers build customer journeys and guide them through the lifecycle. CRMs collect information on campaign interactions and results for all your users to support campaign reporting and planning. CRMs provide various services, and they are all built differently. So while searching for a CRM, companies should focus on critical functionalities needed to execute their business processes while evaluating potential vendors.
Recently, CRMs have become integrated with automated marketing messaging systems. This gives marketers the power to understand and act on their CRM data to set up campaigns and send new messages. If properly set up and monitored, a robust CRM can aggregate performance stats for groups of users to inform marketing strategies about timing, design, history, trends, devices, channels, and other preferences. The data collected in a CRM can help marketers effortlessly build highly personalized cross-channel campaigns.