Question

What is the purpose of customer relationship management (CRM)?

1) To unify customer interaction and track customer information
2) To provide policies, processes, and strategies for a company
3) To cultivate a lasting relationship with the customer
4) To implement a mechanism for tracking customer information

Answer 1

The purpose of customer relationship management (CRM) is to unify customer interactions, track customer information, and help companies cultivate lasting relationships with their customers. CRM systems offer insights into customer behavior and help tailor engagement strategies for better customer satisfaction and loyalty.

Step-by-step explanation:

The purpose of customer relationship management (CRM) is to help businesses manage their relationships and interactions with current and potential customers. CRM systems assist in various ways:

While a CRM strategy includes policies and processes, its core purpose is deeply rooted in managing customer data and interactions to improve business relationships. A well-implemented CRM system provides valuable insights into customer behavior, preferences, and history, allowing for tailored and effective engagement strategies that can lead to increased customer satisfaction and loyalty.