CRM is an acronym for Customer Relationship Management or Contact Relationship Management. Ultimately it’s about the relationship that you have with your customer or contact.

What is the difference between Customer and Contact Relationship Management? Customer Relationship Management refers to the entire account. If you are working with ACME Products, the entire relationship is based on the account as a whole. Contact Relationship Manager refers to individual contacts. If you are working with ACME Products, each relationship is based on the individual contact, not the account as a whole.

Many people think of CRM as technology when in fact CRM is a business strategy

In general, CRM should be about the focus that your business has on your customers. Your customers also include your vendors, suppliers, business contacts and employees.

Technology can and should be used to support your Customer Relationship Management Strategy. But don’t confuse implementing a CRM technology with a business strategy.