The concept of ‘customer relationship management is increasingly getting popular among businesses. You need to share the correct information with the right people at the right time; otherwise, you may miss out on opportunities that may help you expand your business.
Therefore, CRM technology has become essential since all businesses are now following the customer-centric approach. However, you may be wondering what CRM is.
Below, we have talked about what CRM is and its different types.
What is CRM?
Customer relationship management (CRM) refers to a technology software that helps you manage your organization’s relationships and communication with customers; both existing and potential ones.
It also allows you to improve business relationships, streamline business operations, and improve profitability.
CRM is basically a tool that helps you with sales management, contact management, productivity, and more.
The three types of CRM
There are mainly three types of CRM:
1. Operational CRM- It provides a complete track record of every communication between your organization and your clients, helping you manage your customer relationships better.
Primarily, operational CRM automates and streamlines business operations such as sales, services, and marketing. It helps you generate leads, converts them into customers, records their details, and thoroughly cater to their needs. It solves all your problems in the business-customer relationship.
- Organized contact information
- A clear view of every customer’s profile and action
- Lead scoring
- Automation of processes
2. Analytical CRM- This type of CRM mainly deals with data and numbers. It helps in data collection, analysis, and management, and studies sales, online lead generation services, marketing, and customer data.
You can integrate analytical CRM into your invoice generating software to have a detailed view of your business’s cash flow. This can also help you make strategic decisions.
- A better understanding of customers
- Understanding of customers’ persona
- Track employees’ performance and activity
- Improvisation of the sales process and marketing strategy
3. Collaborative CRM- These CRM systems help you establish communication between several parties related to customer service. These parties may include your company’s different departments, vendors, stakeholders, suppliers, and distributors.
Collaborative CRM allows you to streamline processes across your organization.
Every department depends on others for a smooth workflow. For example, the marketing team must timely provide leads to the sales department. Then, the sales department must deliver sales to the support team, and so on.
It might sound simple; however, it requires a lot of coordination, and one mistake can be costly. It is where collaborative CRM comes into the picture. It manages and streamlines customer interactions, back-office processes, and communication through automation, bringing more transparency among the different departments in the organization.
It unites your organization’s different units and helps achieve a common goal- customer service optimization.
- Enhanced communication between departments
- Better customer retention and loyalty
- Ability to share customer details with other parties
- Understanding of customer requirements and preferences
- Customer-centric culture
About the business
Customer relationship management (CRM) is an essential software helping businesses increase their efficiency in terms of customer relationships and management. At Silver Spoon Agency, we help our clients meet the desired needs of their customers with our expert CRM system. Our clients choose us for our innovative marketing practices that help them stand out among their competitors. For more information, contact 8452805377, write to email@example.com or fill out our contact form.