CRM

Stands for "Customer Relationship Management." It is a business term that started somewhere in the deep abyss of the IT (Information Technology) world. CRM refers to solutions and strategies for managing businesses' relationships with customers. (I suppose that's why they call it customer relationship management).

With the advent of web retailing, companies have found it hard to develop relationships with customers since the e-commerce interface is so impersonal. After all, don't you miss the firm handshake and sparkling smile of the salesperson who just sold you the most expensive computer system in the store?

Whether or not you miss the personal experience of the retail store, the goal of CRM is to give you that feeling when you buy products over the Internet. When it comes to CRM, customer service is the number one priority. Yes, all companies seem to make that claim, but when online businesses create CRM models, it really is the case.

Published: 2003