What is customer relationship management?

What exactly does CRM refer to?
CRM is focused on the relationships between the company and individuals, including customers, service users, colleagues, or suppliers.
CRM generally encompasses three concepts:
CRM as technology: A technology product, often cloud-based, that teams use to record, track, and analyze interactions between the enterprise and users. It is also called CRM system or solution.

CRM as a Strategy: Business Philosophy on How to Manage Relationships with Customers and Potenti

CRM or Customer Relationship Management is a strategy for managing the relationships and interactions of a company with its customers or potential customers. A CRM system helps organizations continually interact with customers, streamline processes, and improve profitability.

When talking about CRM, people generally refer to a CRM system, a tool used for contact management, sales, productivity and more. The goal of a CRM system is simple: improve business relationships.

Customer relationship management (CRM) is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth