What is the full form of CRM ?

CRM is a widely implemented model for managing, building and maintaining stronger relationships with key customer groups. With its help, a company can reduce costs and increase profitability by solidifying customer satisfaction and build long-term relationship.

There are 3 key elements to a successful CRM initiative :

• People
• Process, and
• Technology.

A CRM system is not only used to deal with the existing customers but is also useful in acquiring new customers.

Following are some of the types of CRM available in market :-

• Sales force automation
• Marketing
• Customer service and support
• Appointment
• Social media
• Non-profit and membership-based