CRM stands for Customer Relationship Management. It is a business strategy and technology that organizations use to manage and analyze interactions with current and potential customers. The primary goal of CRM is to enhance customer satisfaction and retention, ultimately leading to increased sales and business growth.
In a Web based CRM system, customer data is collected, organized, and stored in a central database. This data can include customer contact information, purchase history, interactions with the company (e.g., phone calls, emails, website visits), and other relevant details. By having a comprehensive view of each customer's interactions, businesses can better understand their needs and preferences.