Types of CRM Software: Which Is Right for Your Business?
In this blog, I am going to talk about the types of CRM Software As the market continues to expand and more businesses start to rely on these platforms, having a picture of what CRMs are and what they do is becoming an absolute must for business owners and their employees.
To give you a head start, we’re diving into the three main types of CRM software to help you choose the best one for your business.
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There are three main types of CRM software:
- Operational CRM: Uses sales and marketing automation to give you a complete view of each customer’s journey.
- Analytical CRM: Analyzes your customer data and identifies patterns to help you make better business decisions.
- Collaborative CRM: Organizes and shares customer information with your internal and external stakeholders.
Understanding the benefits of each type of CRM will help you choose the right one for your business.
An Operational CRM is designed to streamline and simplify an organization’s main business processes. In doing so, the tool can help companies generate leads, convert those leads into contacts, and provide businesses with the service infrastructure necessary to delight and retain their customers as time goes on.
who should use operational CRM
You should choose an operational CRM if…
- You spend too much time trying to keep contact information organized
- You need a clear view of each customer’s activity and profile
- You want to use lead scoring and win probability, but don’t know where to start
- You manually assign each task and lead to your sales team
- You want to scale your email marketing efforts and grow your database
Analytical CRMs rely on data gathering and analysis to help the companies better serve their customers. These CRMs are generally used to analyze data like customer preferences, customer properties, contact data, and other information gathered from customers both on and offline.
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You should use analytical marketing if..
- You want to better understand why customers are (or aren’t) buying your products
- You want to gather more data about your target customer
- You want to build customer personas based on data
- You want to figure out which touchpoints drive the most revenue
- You spend too much time poring over spreadsheets — and not enough time selling
- You want to track your sales KPIs
- You want to improve your sales process or strategy based on business intelligence data
With a collaborative CRM, a company’s marketing, sales, and service departments all share customer information freely with one another. The hope is that this system will improve synchronicity within the business and give each department a better understanding of their customers’ needs, wants, and interests.
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A collaborative CRM has two definitive components — interaction management and channel management. Let’s explore those components now.
- Interaction Management
- Channel Management
You should use a collaborative CRM if..
- You need to improve communication between departments
- You want to focus on customer retention and loyalty
- Your customers often have specific preferences and needs
- You need to share customer information with vendors
- You want to organize and align customer-focused efforts across your business
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