Sales Glossary > Customer Relationship Management
Customer Relationship Management
Customer relationship management (CRM) is a company-wide practice for keeping track of all the business interactions with the existing, past, and potential customers.
Customer relationship management software is used to aggregate the information on all your past, current, and potential customers, keep track of all interactions with them across all channels and analyze them to source actionable insights on your sales performance and consumer behavior.
- Analytical CRM analyzes customer data coming from various sources to help you get better insights into your sales processes.
- Collaborative (or Strategic) CRM is used to share customer information among different departments within an organization.
- Operational CRM focuses mostly on streamlining all processes related to sales.