Customer relationship management (CRM) is the blanket term for a group of tools and techniques that help businesses understand the needs and desires of their customer base to optimize sales and marketing. By collecting and understanding essential information about your customers such as purchase records, buying habits, demographic information, and cross-channel messaging, a CRM can help you provide a better customer experience.
A global shortage of computer chips is causing auto makers to cut production just as consumers are flocking back to dealerships as the demand for cars rises. With fewer models on lots, dealers are raising prices in order to keep bottom lines healthy. While consumer demand is still healthy, sales volume is on the decline due to inventory shortages.