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What is a CRM?

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Quick Answer

CRM is short for customer relationship management. It is a strategy program used by businesses to strengthen customer loyalty and satisfaction while reducing costs and increasing profits.

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Full Answer

CRM is a company-wide business strategy, effecting all areas of the organization. The three topics of a CRM program are people, process and technology. For the CRM to be successful, all employees of the company, from the top management to the customer service representatives, must be involved. The process, in which a customer is cared for, looks to be improved upon. A CRM strategy appoints the appropriate technology that is best suited for the customer to receive optimal service.

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