The full form of CRM is Customer Relationship Management. CRM is software that businesses use to enhance their relationships with customers. Customer relationship management software includes sets of concepts, procedures, and rules that a business should follow while communicating with customers.
Customer relationship management software is a system that can manage your company’s relationships and interactions with customers. It also works to enhance the customer base and also revenue base.
Through CRM software systems, you can manage projects, invoices, contacts, sales pipelines, and customer accounts automatically. CRM software also helps its customers to track leads, contacts, customer activities, and much more.
Features of CRM
- CRM software system contains Project Management Tool, to improve the capabilities of businesses. CRM system provides assistance to project managers to make sustainable marketing strategies.
- This system tracks all the activities of customers and potential customers, therefore it is good for lead generation.
- It also provides details about contract management, proposal creation, surveys, calendar, etc.
- The reports and goals tracking system is an amazing feature of the CRM system, it provides details about the company’s productivity and sales. Therefore any businessman can match their productivity and sales with the target.
- It also records data related to the company’s expenses as well as customers’ expenses. The customers’ expense-related data shows trends and preferences of customers. After assessing it any business can manage its product accordingly.
Types of CRM
- Strategic CRM
The customer is the king of the market, therefore all the policies are created to fulfill the needs and want of customers. Strategic CRM software helps to make customer-centric policies.
Strategic CRM provides assistance to policymakers to improve their strategic measures. It is also suggested to policymakers about new and modern marketing strategies to apply.
- Operational CRM
An operational CRM software helps businesses to enhance their customer base. This system is specially designed to focus on prime business regions, such as sales, customer services, and marketing. This system provides multiple suggestions to the business about amazing lead-generation methods.
The three main components of Operational CRM are given below:
(i) Sales force automation provides data related to sales and leads. It provides data related to:
- Sales promotion analysis
- Automation of the tracking of a client account
- History of repeated sales
- Data related to leads or potential customers
- Marketing data
- Data from retail outlets
- Customer details from call centers
(ii) Marketing automation helps to enhance the overall marketing process. It can automate repeated tasks to improve the company’s efficiency and It also works to convert leads into customers.
(iii) Service automation focuses on direct customer service technology. It provides customer support through different channels which are given below:
- By phone
- By email
- By Ticketing portals
- By FAQs
- Analytical CRM
It systematically provides customers’ data to businesses. It provides data related to sales as well as marketing to make futuristic schemes and strategies. Through Analytical CRM, companies can assess their product reputation in analytical form.
Analytical CRM also provides a detailed analysis of customers’ behavior and preferences. This thing helps to analyze customers’ preferences to make futuristic strategies.
- Collaborative CRM
The collaborative CRM system enables an organization to collect, organize, and share customer information across multiple teams. Collaborative CRM is divided into:
- Interaction management: this feature enhances B2B communication.
- Channel management: it uses current technologies and trends to improve channel interactions.
Top 3 CRM software
- HubSpot CRM
It helps businesses to attract leads through content and also provides general CRM tools. The products of HubSpot are divided between marketing, sales, and CMS. The marketing product of CRM helps to lead generation to grow or widen the customer base.
On the other hand, the sales model of HubSpot provides advanced CRM techniques to improve business loyalty.
HubSpot CRM is best for:
- Individual users
- Small teams
- Small businesses
Salesforce is one of the best CRM software for sales, marketing, and customer support. It is ideal for CRM software for medium and large businesses. It provides assistance for all business processes. Salesforce contains many CRM features, such as marketing automation, social media and listing and posting features, etc.
Salesforce CRM is best for:
- Startup Small businesses
- Large businesses
It is the best CRM software because of its capability to boost sales and revenue. It is an amazing CRM platform for sales and it tracks all your communication with each customer.
Pipedrive provides different ways for the business to improve its sales as well as profit. Any business owner can manage this software on their mobile phone easily.
Pipedrive is best for:
- Small Businesses
- Workflow automation
- Pipeline management
Advantages of CRM Software
- It provides information about leads and existing customers, therefore any business can make its futuristic plans easily.
- Through CRM software any business will make policies according to customers’ preferences and needs because the customer is the king of the market.
- CRM software helps to make coordination among all the departments of the company.
- CRM software can automatically arrange and manage the raw data in the proper format. It presents data as a chart, tables, etc.
- CRM software also provides suggestions to improve work efficiency.
- It provides data related to every step of marketing and sales promotion for the company.
- With the help of CRM, policymakers can predict future sales or of course volume of revenue.
- CRM software provides full data security to its users.
- Now, CRM software provides their facilities on mobile.
- Through CRM software, any company can improve its customer support system and of course its brand value.
If any business wants to improve its customer base then it should use CRM software. The CRM software provides a deep analysis of existing customers, potential customers, etc.
It also assists policymakers to implement sound or modern marketing strategies. Here are 4 types of CRM given below:
- The analytical CRM provides data on marketing and promotional activities to assess the trends and patterns of customers.
- The collaborative CRM helps to collaborate with different promotional tools and provide all the trends and analyses to the policymakers.
- The operational CRM helps to increase the customer base as well as the revenue base.
- Strategic CRM helps to build powerful advertisement policies.