Aug 27th, 2021
Customer relationship management (“CRM”) is a process in which a business or organization uses data analysis to better understand massive amounts of information to determine the best strategies for interacting with current and potential customers. Evolving from rudimentary surveys in the 1970s used by a handful of companies, CRM has become the biggest software market in the world used by 91% of companies that have more than 11 employees. The market is dynamic and constantly evolving in order to maximize return on investment for companies around the world, with companies such as Infobird Co. Ltd (NASDAQ: IFBD) (Profile) growing rapidly as a name brand in China. Majors such as Alibaba Group Holding Limited (NYSE: BABA) are also part of the market getting in front of emerging trends, as are Zendesk Inc. (NYSE: ZEN), Twilio Inc. (NYSE: TWLO) and Salesforce.com Inc. (NYSE: CRM) by providing the critical software and know-how for companies to improve customer relationships, quickly engage new customers and drive higher sales.