Customer Relationship Management - CRM

AAA

DEFINITION of 'Customer Relationship Management - CRM'

The principles, practices, and guidelines that an organization follows when interacting with its customers. From the organization's point of view, this entire relationship not only encompasses the direct interaction aspect, such as sales and/or service related processes, but also in the forecasting and analysis of customer trends and behaviors, which ultimately serve to enhance the customer's overall experience.

INVESTOPEDIA EXPLAINS 'Customer Relationship Management - CRM'

With the growth of the internet and related technologies, customers are concerned over the privacy and safety of their personal information. Therefore, businesses need to ensure that the storage and analysis of the customer data must have the highest levels of protection against cyber criminals, identity theft and other breaches of securities.

RELATED TERMS
  1. Comparable Store Sales

    The amount of revenue a retail location generated in the most ...
  2. Customer Service

    The process of ensuring customer satisfaction with a product ...
  3. Third-Party Verification - TPV

    When an outside organization reviews a customer's information ...
  4. Relationship Manager

    A professional who works to improve a firm's relationships with ...
  5. Forrester Research Customer Experience ...

    Forrester Research, a technology and market research company, ...
  6. Identity Theft

    The crime of obtaining the personal or financial information ...
Related Articles
  1. Identity Theft: How To Avoid It
    Insurance

    Identity Theft: How To Avoid It

  2. 5 Services To Usher In New Clients
    Professionals

    5 Services To Usher In New Clients

  3. Material Adverse Effect A Warning Sign ...
    Markets

    Material Adverse Effect A Warning Sign ...

  4. Changes In Tax Legislation And Regulation
    Taxes

    Changes In Tax Legislation And Regulation

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center