Customer Relationship Management

Definition

Customer Relationship Management (CRM) is a set of strategies, processes, and software that enables businesses to understand their customers' needs and behaviors better to build stronger relationships.

For example, Amazon has one of the most comprehensive CRM infrastructures in the world, which captures client data throughout transactions. When buying something on Amazon, you'll need to create a personal account. Amazon can then use your purchases and browsing history to personalize marketing and email campaigns based on your preferences.