Leslie Ye says, “In the early days of starting a business, you’ll encounter a dizzying array of acronyms — ROI, ARPU, CAC, LTV, MoM, NPV, just to name a few. One acronym is particularly important: CRM.

Simply put, CRM — or customer relationship management — refers to software that tracks interactions with prospects and customers.

All CRMs store prospects’ contact information — their name, email, and phone number, as well as any other identifying information a company chooses to track. CRMs can also group multiple contacts at a company under one account, which is helpful for sellers.

Beyond contact info, CRMs log reps’ touchpoints with their prospects, including emails, phone calls, voicemails, and in-person meetings. Some CRMs offer the ability to track deal stages and reasons for closed-lost and closed-won deals“.

Don’t Use a CRM? Here Are 4 Reasons Why It Might Be The Solution You Need

HubSpot

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