crm

Vocabulary Word

Definition

CRM, or Customer Relationship Management, is a strategic approach that helps businesses interact effectively with their customers. Often it refers to a software system used to manage customer data and interactions.

Examples in Different Contexts

In sales, 'CRM' (Customer Relationship Management) is used to manage a company's interactions with current and potential customers. A sales manager might say, 'Implementing a CRM system has significantly improved our customer engagement and sales conversion rates.'

Practice Scenarios

Sales

Scenario:

We need a better understanding of potential clients, especially those who are likely to attain substantial business.

Response:

We should consider implementing a CRM to capture and analyze information about potential clients.

Marketing

Scenario:

Our current channels of customer interaction aren't systematic. As we grow, the need for a structured method becomes clear.

Response:

A CRM could certainly help, offering a structured way to track customer interactions and improve our marketing strategy.