The Beginner’s Guide to CRM: How to grow your business with customer relationship management technology

'CRM’ stands for customer relationship management, which is a technology for storing and managing all your company’s relationships and interactions with customers and prospects — all in one central location. But it’s not just a fancy contact list. A CRM solution is one of the most valuable, game-changing pieces of business technology available because of how it helps you use your customer data.

The purpose of CRM is simple: Improve business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability. You can store, track, and analyze customer and prospect information in one system of record, including contact and account information, sales opportunities, service cases, e-commerce orders, and marketing campaigns. With data in one central location, organizations have a complete picture of customers and prospects that can be shared and analyzed by teams across the company in real-time. And, with AI included in your CRM, you can get deeper insights, improve decision-making, and enhance customer experiences, all while reducing costs.

For small businesses, CRM can help them successfully compete with larger, more established companies.