What activities are included in customer relationship management (CRM)?

The focus of customer relationship management (CRM) is fundamentally about establishing and maintaining relationships with customers. This involves understanding customer needs, preferences, and behavior to enhance their experience with a company. Effective CRM includes strategies and practices that foster strong customer connections, thereby promoting customer loyalty and retention.

Building relationships might encompass personalized communication, tailored marketing efforts, and utilizing customer feedback to improve service offerings. The goal of CRM is to create long-term relationships that benefit both the customer and the business, leading to increased satisfaction and repeat business. Other activities listed, such as promoting sales through social media and developing products according to trends, may support CRM but do not encapsulate its core essence, which is primarily focused on the relationship aspect. Creating advertisements, while important for attracting customers, also does not capture the deeper, ongoing engagement that CRM aims to establish.