Customer relationship management theory

Customer Relationship Management (CRM) theory involves strategies and technologies that businesses use to manage interactions with current and potential customers. The goal is to enhance customer satisfaction, build loyalty, and increase sales. CRM systems collect and analyze customer data, helping businesses understand preferences and behaviors. This information allows companies to personalize communication, improve service, and anticipate customer needs. By fostering strong relationships, businesses can retain customers, attract new ones, and ultimately drive growth and profitability.