3. Customer Relationship Management

Customer Relationship Management (CRM) is a strategy used by businesses to manage interactions with current and potential customers. It involves using data and technology to understand customer needs, preferences, and behaviors. CRM helps organizations improve customer satisfaction, strengthen relationships, and increase sales by organizing customer information, tracking communication, and personalizing outreach. Essentially, it allows businesses to be more responsive and tailored in their approach, ensuring customers feel valued and understood, which can lead to loyalty and repeat business.