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

For marketing, 'CRM' helps in segmenting customers, tracking interactions, and personalizing marketing campaigns. A marketing director might explain, 'Our CRM strategy focuses on delivering targeted content to different customer segments to increase engagement and loyalty.'

Practice Scenarios

Tech

Scenario:

The support team is having a tough time keeping up with customer requests. We need a tool to manage the volume.

Response:

Agreed. A CRM tool could efficiently manage customer requests while providing real-time updates.

Business

Scenario:

Our new product has been receiving a lot of attention lately. The team should stay on top of customer inquiries.

Response:

A CRM would be absolutely beneficial for keeping track of all customer inquiries and responses.