Client Relationship Management often goes by the acronym “CRM”. Usually when people talk about CRM, they are referring to a tool that can be purchased. CRM can also be considered a strategy, but that will not be covered here.
With a CRM system, you can track customer information such as contacts, communications, accounts, purchases and preferences.
There are many different kinds of CRM systems available:
- If you are just getting started, an excel sheet can suffice to track important customer information.
- As your business grows, you may not need to purchase software just yet. It may suffice to subscribe to an online CRM service which is more cost effective.