As sales funnels suggest that there are phases of a buyer’s journey, customer relationship management software helps organizations closely track and manage those interactions.

CRM software is a type of intranet-based application that organizations use to help manage their sales, marketing, customer service, and support functions. They’re helpful in forecasting business performance as well as monitoring day-to-day activities such as the status of leads and which sales reps are following upon them.

Customer relationship management allows companies to develop and maintain a detailed digital profile on each of their customers. The interactions tracked include social media, email, phone calls, visits to company sites or stores as well as customer surveys.