Defining Customer Relationship Management (CRM)
 
Looking for the official definition of CRM? Sorry, there isn't one. If you Google "what is CRM," you get more than 50,000 options. But do not despair. We have compiled some of the most respected thoughts that we feel describe CRM. Simply stated, Customer Relationship Management (CRM) is:

• The art/science of using information to find, acquire and retain customers. The people, processes, and technology questions associated with marketing, sales, and service.
• At the core of any customer-centric business strategy and culture.
• Supported, not driven, by technology. CRM involves redesigning of functional activities.
• Actively deepening the knowledge you have of your customers to meet individual customer needs.
• A holistic approach that unifies all points of customer interaction.
• Measured by customer retention and referrals as well as the growth of valuable customer segments.

Customer Relationship Management (CRM) is NOT:

• Just about buying technology. However, some technology is required to enable a CRM strategy.
• Possible with remembering that the driving force is often human relationships.
• Not a destination, but a journey. CRM is iterative in nature, to be improved on a regular basis.

"The true value of CRM is to transform strategy, operational processes and business functions in order to retain customers and increase customer loyalty and profitability." by Aris Pantazopoulos