Tags are unique identifiers that can be associated to your CRM contact records to search, sort, categorise, filter, and segment records in a more efficient way.
For example, there may be contacts in your CRM account that require high priority. You can tag those Leads as Important, so that you can easily filter them. Additionally you can tag contacts by 'advertising medium' so you can keep a track of clients that you met at e.g. a wedding fair.
Each Contact ( Client / Customer) can be 'tagged' so that you can keep a track on them. You can also filter and search by Tag.
Tags are created by each user, but made available to the whole team ( and are unique to your agency). Once a tag is created, it becomes available for anyone to use.
The video below shows you how tagging works.