CRM stands for Customer Relationship Management. It refers to a set of practices, strategies, and technologies that companies employ to manage and analyze customer interactions and data throughout the customer lifecycle. The primary objective of CRM is to improve business relationships, drive customer retention and loyalty, and increase overall profitability. CRM systems help businesses streamline processes, elevate customer service, and gain insights into customer behavior and preferences. They typically include features for managing contacts, sales leads, customer support, and marketing campaigns.