7-1 Customer Relationship Management Vocab Terms Fill In

When the company converts the potential customer into an official sale; that is, when the potential customer becomes a customer.

The percentage of customers that stopped buying your product during a certain period of time.

A technology system for managing all company interactions with current and potential customers.

Refers to the actions a company takes to continue its relationship with its customers, to keep and maintain repeat customers, and to reduce churn.

The process of finding patterns and anomalies (irregularities) in data to predict outcomes.

The electronic storage of large amounts of company information.

Also known as the “quoting” stage and when the bulk of the “selling” occurs – here a company provides a specific offering, and the customer begins to consider whether it is a “good fit.”

Where a company identifies potential customers.

Where a company determines if a customer has potential or need to purchase.

A visual summary of potential customers in the various stages of the sales process.