Customer Relationship Management Terms Glossary: Customer Relationship Management Terms in 2024
3
360-Degree View
A 360-degree view of the customer refers to a holistic and comprehensive understanding of a customer's interactions, preferences, and history across all touchpoints.
A
Account Management
Account management involves managing relationships with established customers or key accounts to foster loyalty and drive business growth.
Ai
Artificial Intelligence (AI) refers to the simulation of human intelligence in machines.
Analytics
Analytics involves the discovery, interpretation, and communication of meaningful patterns and insights from data.
Artificial Intelligence (Ai)
Artificial Intelligence (AI) in CRM involves the use of computer systems and algorithms to simulate human intelligence, automate tasks, and make predictions or recommendations. AI technologies can improve customer service, sales forecasting, and personalization.
Automated Reporting
Automated reporting refers to the process of generating and distributing reports automatically, using software and tools, to provide timely and accurate information for decision-making.
B
Business Intelligence
Business Intelligence (BI) refers to the tools, technologies, and processes used to collect, analyze, and present business information.
C
Call Center
A call center is a centralized office or facility where customer calls are handled, typically for customer service, sales, or technical support.
Campaign Management
Campaign management involves planning, executing, and tracking marketing campaigns to achieve specific business objectives.
Case Management
Case management is the process of managing and tracking customer inquiries, issues, or complaints from creation to resolution.
Churn
Churn, also known as customer attrition or turnover, refers to the rate at which customers stop doing business with a company.
Cloud Crm
Cloud CRM, also known as SaaS CRM, refers to CRM software that is hosted in the cloud and accessed through the internet.
Collaborative Crm
Collaborative CRM focuses on facilitating communication, collaboration, and information sharing among employees, departments, and external partners to improve customer relationships.
Compliance
Compliance refers to adherence to laws, regulations, industry standards, or internal policies and procedures.
Contact Management
Contact management refers to the organization and tracking of customer and prospect information, including contact details, interactions, and preferences.
Crm
Customer Relationship Management (CRM) refers to the strategies, technologies, and practices that organizations use to manage and analyze customer interactions and data throughout the customer journey.
Crm Analytics
CRM analytics involves analyzing CRM data, customer interactions, and patterns to gain insights, identify trends, and make data-driven decisions for marketing, sales, and service.
Crm Integration
CRM integration refers to the process of connecting and synchronizing a CRM system with other systems and applications, such as marketing automation, sales, or customer support tools.
Crm Software
CRM software is a technology solution that helps companies manage and analyze customer interactions, data, and relationships.
Crm Strategy
A CRM strategy is a plan and framework that outlines how a company will use CRM principles, processes, and technologies to achieve its customer-centric goals and objectives.
Crm System
A CRM system is a technology platform that helps businesses manage customer relationships, track sales, and streamline processes.
Crm Training
CRM training involves educating and providing necessary skills, knowledge, and guidance to employees on using CRM systems, tools, and processes effectively.
Cross-Selling
Cross-selling is the practice of selling additional products or services to an existing customer.
Customer Acquisition
Customer acquisition is the process of attracting and convincing potential customers to buy a product or service.
Customer Advocacy
Customer Advocacy in CRM refers to customers actively promoting or recommending a company's products or services to others. It demonstrates high levels of satisfaction, loyalty, and trust and can contribute to customer acquisition and retention.
Customer Analytics
Customer Analytics in CRM involves the analysis of customer data, behaviors, and interactions to gain insights and inform decision-making. It helps identify trends, preferences, and opportunities for improving customer experiences and business outcomes.
Customer Data Management
Customer data management is the process of collecting, organizing, and maintaining accurate and up-to-date customer data, ensuring its quality, integrity, and accessibility.
Customer Engagement
Customer Engagement in CRM refers to the level of interaction, communication, and involvement between a customer and a company. It encompasses all touchpoints and experiences throughout the customer journey.
Customer Engagement Platform
A customer engagement platform is a technology solution that combines multiple channels, tools, and capabilities to facilitate interactions, communications, and relationships with customers.
Customer Equity
Customer equity is the total combined value of all current and potential future customer relationships to a company, often measured using financial or lifetime value metrics.
Customer Experience
Customer Experience (CX) in CRM refers to the sum of all interactions, touchpoints, and experiences a customer has with a company throughout their relationship. It encompasses every stage of the customer journey and shapes perception, satisfaction, and loyalty.
Customer Feedback
Customer feedback is information provided by customers about their experiences with a product, service, or company.
Customer Journey
The customer journey is the process a customer goes through when interacting with a company, from initial awareness to post-purchase support.
Customer Journey Mapping
Customer Journey Mapping in CRM is the process of visualizing and understanding the various touchpoints, interactions, and experiences a customer has with a company throughout their journey. It helps identify pain points, opportunities, and areas for improvement.
Customer Lifecycle
The Customer Lifecycle in CRM represents the various stages a customer goes through, from initial awareness and acquisition to retention and advocacy. Understanding the customer lifecycle helps prioritize and tailor marketing and sales efforts.
Customer Lifetime Value
Customer Lifetime Value (CLV) is the predicted net profit attributed to the entire future relationship with a customer.
Customer Lifetime Value (Clv)
Customer Lifetime Value (CLV) in CRM is a metric that represents the total estimated revenue a customer will generate for a company over their entire relationship. It helps companies assess the long-term profitability of acquiring and retaining customers.
Customer Loyalty
Customer Loyalty in CRM refers to the measure of a customer's inclination to continue doing business with a particular company or brand. Building customer loyalty is crucial for long-term success and customer retention.
Customer Onboarding
Customer Onboarding in CRM refers to the process of guiding and supporting new customers as they adopt and start using a company's products or services. It aims to ensure a smooth and successful transition into a long-term customer relationship.
Customer Persona
A customer persona, also known as a buyer persona, is a semi-fictional representation of an ideal customer, based on market research and real customer data.
Customer Personas
Customer Personas in CRM are fictional, generalized representations of ideal customer segments or types. They are created based on research, data, and analysis to better understand and target specific customer groups.
Customer Portal
A Customer Portal, also known as a Self-Service Portal, is a secure online platform that allows customers to access and manage their accounts, interact with support resources, and find information independently. It enhances customer convenience and reduces support costs.
Customer Privacy
Customer privacy refers to the protection and proper handling of customer data, information, and preferences to ensure confidentiality, security, and compliance.
Customer Relationship
A customer relationship refers to the connection, interactions, and rapport established between a customer and a company, often built on trust, satisfaction, and loyalty.
Customer Relationship Management
Customer Relationship Management (CRM) refers to the practices, strategies, and technologies used by businesses to manage and analyze customer interactions and data.
Customer Retention
Customer Retention in CRM refers to the efforts made by a company to retain existing customers and ensure they continue purchasing products or services. It involves strategies to reduce churn and maintain customer satisfaction.
Customer Satisfaction
Customer satisfaction is a measure of how well a product or service meets or exceeds customer expectations.
Customer Segmentation
Customer segmentation is the practice of dividing a customer base into groups based on common characteristics, behaviors, or preferences.
Customer Self-Service
Customer self-service refers to the ability for customers to find answers, access information, and resolve issues themselves, without requiring assistance from customer support agents.
Customer Service
Customer service is the assistance and support provided to customers before, during, and after the purchase of a product or service.
Customer Service Level
Customer Service Level in CRM refers to the quality and efficiency of support and assistance provided to customers. It includes metrics such as response time, resolution time, and customer satisfaction, and aims to meet or exceed customer expectations.
Customer Success
Customer Success in CRM refers to the proactive approach of ensuring customers achieve their desired outcomes and derive value from a company's products or services. It involves ongoing support, education, and relationship-building activities.
Customer Support
Customer support, also known as customer service or helpdesk, involves providing assistance, guidance, and resolution to customers' issues, questions, or concerns.
D
Dashboard
A dashboard is a visual display of key data, metrics, or performance indicators, often used for monitoring and decision-making.
Data Analytics
Data Analytics in CRM involves the extraction, transformation, and analysis of data to uncover valuable insights and patterns. It helps organizations make data-driven decisions, improve customer experiences, and enhance business performance.
Data Cleansing
Data cleansing is the process of identifying and correcting or removing inaccurate, incomplete, or irrelevant data from a database.
Data Integration
Data integration involves combining data from different sources or systems to create a unified view.
Data Migration
Data migration is the process of transferring data from one system or database to another.
Data Mining
Data Mining in CRM involves the process of discovering patterns, insights, and information from large volumes of data. It uses various statistical and machine learning techniques to uncover hidden relationships and opportunities.
Data Privacy
Data privacy refers to the protection of personal information and the control individuals have over how their data is collected, used, and shared.
Data Security
Data security is the practice of protecting data from unauthorized access, disclosure, alteration, or destruction.
Data Visualization
Data visualization is the presentation of data in a visual and graphical format, such as charts, graphs, and interactive dashboards, to facilitate understanding and analysis.
Data-Driven Marketing
Data-driven marketing refers to the use of customer data, insights, and analytics to inform and guide marketing decisions, strategies, and campaigns.
Database
A database is a structured collection of data, often in digital format, that can be accessed, managed, and updated.
Digital Transformation
Digital transformation is the process of leveraging digital technologies and strategies to fundamentally change business models, processes, and customer experiences.
Drip Campaign
A drip campaign is a marketing strategy that involves sending a series of scheduled and automated messages to nurture leads or customers.
E
E-Commerce
E-commerce, short for electronic commerce, refers to the buying and selling of goods and services online. In CRM, e-commerce integration involves connecting and synchronizing customer data, orders, and interactions between a CRM system and an e-commerce platform.
Email Marketing
Email marketing is the practice of using email to promote products, services, or events to customers or prospects.
Enterprise Resource Planning (Erp)
Enterprise Resource Planning (ERP) in CRM refers to integrated software systems that handle various business processes, including CRM, finance, supply chain, and human resources. ERP-CRM integration enables seamless data flow and improved business insights.
F
Feedback Management
Feedback Management in CRM refers to the processes and systems used to collect, analyze, and respond to customer feedback. It helps organizations understand customer needs, identify areas for improvement, and enhance customer experiences.
G
Gamification
Gamification is the application of game elements, such as competition, rewards, and challenges, to non-game contexts to motivate and engage users.
I
Integration
Integration involves connecting and sharing data between different systems or applications to improve efficiency and streamline processes.
K
Key Performance Indicator
Key Performance Indicators (KPIs) are measurable values that indicate how well a company is achieving its business objectives.
Key Performance Indicators
Key Performance Indicators (KPIs) are measurable values that indicate how well a company is achieving its objectives and goals.
Key Performance Indicators (Kpis)
Key Performance Indicators (KPIs) in CRM are measurable metrics used to evaluate the success and performance of various aspects of customer relationship management. Common CRM KPIs include customer acquisition cost, customer lifetime value, conversion rate, and customer satisfaction score.
Knowledge Base
A knowledge base is a centralized repository of information that provides self-service support for customers and employees.
Knowledge Management
Knowledge Management in CRM refers to the processes and systems used to capture, organize, and disseminate knowledge and information within an organization. It ensures that employees have access to accurate, up-to-date information to better serve customers.
L
Lead
A lead is a potential customer who has expressed interest in a company's product or service.
Lead Generation
Lead generation is the process of attracting and capturing potential customers' interest and contact information, often through various marketing and advertising strategies.
Lead Management
Lead management is the process of capturing, tracking, and nurturing leads to convert them into qualified prospects or customers.
Lead Scoring
Lead scoring is a methodology used to rank and prioritize leads based on their likelihood to convert into customers.
M
Machine Learning (Ml)
Machine Learning (ML) in CRM is a subset of AI that focuses on enabling computer systems to automatically learn and improve from experience without being explicitly programmed. ML algorithms can analyze and predict customer behavior, preferences, and churn likelihood.
Marketing Automation
Marketing automation refers to the use of software tools and platforms to automate marketing tasks and workflows.
Marketing Campaign
A marketing campaign is a planned set of activities and tactics to promote a product, service, or brand, usually with a specific goal or objective in mind.
Ml
Machine Learning (ML) is a subset of AI that focuses on getting machines to learn from data.
Mobile Crm
Mobile CRM refers to the use of mobile devices, such as smartphones and tablets, to access and manage customer relationship data.
Multi-Channel Communication
Multi-channel Communication in CRM refers to the use of multiple channels, such as email, phone, chat, social media, and in-person interactions, to communicate and engage with customers. It allows customers to choose their preferred communication method.
N
Net Promoter Score
Net Promoter Score (NPS) is a metric used to measure customer loyalty and assess the likelihood of customers recommending a company to others.
O
Omnichannel
Omnichannel refers to the practice of providing a seamless and consistent customer experience across multiple channels, such as online, offline, mobile, and social media.
Onboarding
Onboarding is the process of integrating and familiarizing new customers, employees, or partners into a company's products, services, or culture.
Opportunity
An opportunity is a prospect that has progressed to a stage where there is a possibility of closing a sale or winning business.
P
Personalization
Personalization is the practice of tailoring products, services, or experiences to individual customer preferences, needs, or characteristics.
Pipeline
A pipeline is a visual representation of the sales process, showing the different stages a prospect goes through before becoming a customer.
Pipeline Management
Pipeline management involves monitoring and controlling the sales pipeline to ensure prospects are moving through the stages effectively.
Predictive Analytics
Predictive Analytics in CRM involves using statistical algorithms and modeling techniques to predict future outcomes and behaviors based on historical customer data. It helps identify potential opportunities, risks, and customer preferences.
Prospect
A prospect is a lead that has been qualified and determined to have potential as a customer.
R
Real-Time Analytics
Real-time Analytics in CRM involves the analysis and processing of data as it is generated or received, allowing for immediate insights and actions. Real-time analytics can help personalize customer interactions, detect anomalies, and enable responsive decision-making.
Retention
Retention is the ability of a company to retain its customers over a period of time.
S
Sales Enablement
Sales Enablement in CRM refers to providing sales teams with the necessary tools, resources, and information to effectively engage and convert leads. It includes training, content, and technology support to enable sales representatives.
Sales Forecasting
Sales forecasting is the process of estimating future sales revenue based on historical data, market trends, and other relevant factors.
Sales Funnel
A sales funnel represents the buyer's journey from the initial contact with a company to making a purchase.
Sales Pipeline
A sales pipeline is a visual representation of the sales process and stages that sales opportunities go through, from initial qualification to closing.
Salesforce
Salesforce is a popular cloud-based CRM platform that provides organizations with a suite of tools and features to manage customer relationships, sales, marketing, and service. It offers a comprehensive solution for end-to-end CRM requirements.
Salesforce Automation
Salesforce Automation (SFA) refers to the use of technology, software, and tools to streamline and automate sales activities and processes.
Service Level Agreement
A Service Level Agreement (SLA) is a contract that specifies the level of service a customer can expect from a provider, including response times and resolution targets.
Service Level Agreement (Sla)
A Service Level Agreement (SLA) in CRM is a contract or agreement between a company and its customers that defines the expected level of service and support. It includes performance metrics, response times, and remedies for non-compliance.
Social Crm
Social CRM is the practice of using social media platforms and data to engage with customers, build relationships, and provide personalized experiences.
Social Listening
Social listening is the process of monitoring and analyzing social media platforms for mentions and conversations related to a brand or industry.
Social Media Engagement
Social media engagement measures the level of interaction, likes, shares, comments, and mentions a company or brand receives on social media platforms.
T
Ticketing System
A ticketing system is a software application that helps track, prioritize, and manage customer support requests or issues.
Touchpoint
A touchpoint is any interaction a customer has with a company, such as a phone call, email, website visit, or social media interaction.
Training
Training involves providing knowledge and skills to individuals or teams to improve their performance or ability to use a system or process.
U
Upselling
Upselling is the strategy of persuading a customer to purchase a more expensive version of a product or add-on items.
User Adoption
User adoption refers to the extent to which users accept and actively use a new system, process, or technology.
User Experience
User experience refers to the overall experience and satisfaction a user has when interacting with a product, website, or service.
User Interface
The user interface is the visual and interactive part of a software application or system through which users interact.
V
Virtual Assistant
A Virtual Assistant in CRM refers to an AI-powered software program that interacts with customers, answers queries, and performs tasks using natural language processing. Virtual assistants streamline customer support and enhance self-service capabilities.
W
Workflow Automation
Workflow automation is the use of technology to automate repetitive tasks and streamline business processes.
Z
Zoho Crm
Zoho CRM is a web-based CRM platform that offers a wide range of features for managing customer relationships, sales, marketing, and support. It is known for its user-friendly interface and scalability for businesses of all sizes.