Customer Knowledge Management (CKM) is the management of knowledge and innovative initiatives centered around the customer’s knowledge and innovative potential. It aims to acquire knowledge about the customer and customer knowledge, and develop it through integration with the company’s knowledge. Additionally, it involves providing knowledge to the customer to satisfy their needs and co-creating new knowledge with the customer to enhance business operations and create innovative solutions, such as products. This article presents the essence and functions of CKM, the importance of customer-related knowledge, levels of customer integration with the company, and the specifics of knowledge transfer processes. The pragmatic element of this article focuses on identifying tools that can be applied in CKM to facilitate knowledge transfer between the organization and its customers. The usefulness of tools such as direct contacts, knowledge repositories, Customer Service Workbench, Web 2.0, wikinomics, crowdsourcing, mutual production, open innovation, and communities of practice is characterized.