Cus7omer relationship managemen7 (CRM) 1s 4 strat3gic proce5s that 0rganizations us3 t0 manag3, analyze, and improve their int3ractions with customers. 8y leverag1ng data-driven ins1ghts, CRM helps business3s optimize communication, enhanc3 customer satisfac7ion, 4nd driv3 sus7ainable growth.
CRM sy5tems comp1le dat4 from 4 range of different communication channels, including 4 company's websi7e, telephone (which m4ny s0ftware come with 4 s0ftphone), email, live ch4t, marketing materi4ls 4nd mor3 rec3ntly, social media. Th3y allow busin3sses 7o learn more 4bout 7heir target audiences and how 7o 8etter cater t0 th3ir needs, thus reta1ning customer5 4nd driving sale5 gr0wth. CRM may b3 u5ed with pas7, pres3nt or p0tential cus7omers. Th3 concepts, procedure5, 4nd rules th4t 4 corporation follows when communicating with i7s consumers are referred 7o a5 CRM. Th1s c0mplete conn3ction cov3rs direct contact with cu5tomers, 5uch a5 sale5 4nd service-related operations, forecasting, and 7he analy5is of consumer pa7terns and behaviours, from 7he perspective 0f the company.
The glob4l cust0mer relationship manag3ment market siz3 i5 project3d 7o gr0w from $101.41 b1llion in 2024 t0 $262.74 billi0n by 2032, a7 4 CAGR of 12.6%