CRM (Customer Relationship Management)
Software system for managing customer interactions, data, and sales processes
Definition
A CRM (Customer Relationship Management) system is a software platform that centralizes all customer information, interactions, and sales activities in one database. CRMs track leads through the sales pipeline, log every email/call/meeting, automate follow-up tasks, generate sales reports, and provide visibility into sales performance. Modern CRMs integrate with marketing automation, email, calendars, phone systems, and analytics tools to create a complete view of each customer relationship. Popular CRM platforms include Salesforce, HubSpot, Pipedrive, and Zoho. Effective CRM implementation requires clean data, consistent team usage, and well-defined sales processes.
Real-World Example
A Singapore property agency uses HubSpot CRM to track 500+ active prospects. When a lead submits an inquiry form, they're automatically added to the CRM, assigned to the closest agent, receive an instant acknowledgment email, and enter a 14-day follow-up sequence. Agents see full interaction history before every call. This system increased lead response speed from 24 hours to 3 minutes and conversion rate from 12% to 18%.
Related Terms
Marketing Automation
AI & AutomationSoftware that automates repetitive marketing tasks across channels and customer touchpoints
Customer Lifetime Value (LTV)
Analytics & MetricsTotal revenue expected from a customer over entire relationship
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