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Customer Relationship Management (CRM)
Definition
A strategy and system used to manage interactions and relationships with customers or shoppers, leveraging data to improve engagement, retention, and lifetime value. CRM typically includes the use of customer data platforms, email marketing, loyalty programs, and personalized communications.
How It's Calculated
Example
A direct-to-consumer snack brand uses CRM tools to track purchase history and send personalized offers to drive repeat purchases and subscription enrollment.
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