What is CRM?

CRM or Customer Relationship Management is the set of tools offered to help the company interact with their customers and partners. A unified set of CRM tools helps you to analyze the data of the customers, reflect on the crucial mistakes in your product and boost the sales and marketing to achieve better revenues. Along with helping the company, it also helps in maintaining a good relation with the customers which assists in retaining your clients. Choose from the top CRM services while purchasing a CRM tool. Let us take a look at the types of CRM available in the market.

Types of CRM:

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1.    Strategic CRM

Customer relationship is one of the most important aspects of CRM tools. The strategic CRM ensures that the customer’s demands and recommendations are taken into consideration. These CRM tools will ensure that the focus of the product is on efficient design, that satisfies the needs of the consumer. The main objective of strategic CRM is to keep the customer happy which ensures higher retaining capacity and more conversions of the targeted audiences. Without this form of CRM, your business is risking the loss of market share.

2.    Operational CRM

This is another independent form of CRM tools that is focused on carrying out the various operations within the company that facilitates smooth flow of the product to the consumer. Operational CRM is subdivided into:

• Sales Force Automation

SFA targets management of the selling activities. You can create an efficient sales cycle and eliminate all sales issues from your processes.

• Marketing Automation

The Marketing Automation drives the marketing cycle and equips the company with tools for market segmentation, managing campaigns, promotions and event marketing. The tools help in creating a database for customer related data which can be incorporated for designing, implementing, and evaluating the performance of the marketing strategy.

• Services Automation

The customer service department is highly benefiting from this tool which helps them in resolving the issues of the client. IVR (Interactive Voice Response) can play a vital role in conveying pre-recorded messages which simplifies the task of customer services.

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3.    Analytical CRM

Cataloguing data can be the biggest asset a company possesses. This data can be manipulated to understand more about the product, the needs of the customers, and glitches. The company can also get a wide spectrum of information like Finance data, sales data, and marketing data from these analytical tools. Using these tools, recommended changes can be made which allows the creation of a dynamic product.

4.    Collaborative CRM

As the name suggests, collaborative CRM allows various businesses to pool their resources together to understand more about the economy which includes developing the product, retaining valuable customers, acquiring new segments of the market, etc. This CRM allows an efficient flow for transactions and invaluable smoothness in the communication between the businesses that synchronously benefits all the parties. Chat rooms, webinars, Voice over Internet Protocol (VoIP), and Electronic Data Interchange (EDI) are some of the features you can access with the Collaborative CRM installed.

Let us now take a look at some of the advantages of these CRM tools.

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1.    Customer Oriented

CRM tools help you to record all the communications with your clients and partners and give you instant access to these conversations. These tools are effective in maintaining articulate logs and provide the customer service section an upper-hand while they are dealing with clients. Records of the previous purchases, complete credentials, and past records help in building a good rapport with the customers and instills a sense of trust within the company.

2.    Is it just sales?

This is one of the biggest misconceptions among first timers. CRM is more than just a boost for sales. CRM tools help in building your customer platform along with keeping a tab on the lifecycle of your marketing campaigns and understanding your customer service workings. CRM helps you in engaging your customers and partners positively which allows maximum retaining capacity.

3.    Mobility

When it comes to mobility, CRM tools provide you instant access to the platform which keeps you in the loop at all times. Startups and SME’s need to be flexible and CRM can provide this for your business. Just make sure to purchase the right CRM which can provide maximum mobility for you and your employees.

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4.    Time and Space

CRM tools are super fast at calculating statistics and working out infographics for you. Accessing credentials through the repository is efficient which surely helps the customer service departments in handling enormous data. CRM helps in saving the time of the entrepreneurs and maximizes the potential by allowing them to multitask efficiently. It is only when the business empowers the sales representatives with brisk information about the buyer, decrease the time spent in stalling sales, and creates demographics for targeting audiences, that it has the opportunity to nourish. CRM services make sure that these services are offered to businesses.

CRM services are software products and need to be installed on smartphones, laptops, and computers which reduces the hassle in employing hardware, renting space, hiring employees, and appointing service technicians for troubleshooting these hardware devices.

5.    Seamless Integration

Using CRM services that can be easily integrated into your current platform allows you to use the existing platforms without converting to new ones. Converting to different platforms incurs problems for the employees since they have to learn new technologies which can cause resentment among them. Some of the most common e-mail provider systems used are Gmail, Outlook, MailJet, etc., whereas the Google Suite like Drive, Contacts, and Calendar should be easily integrated into the CRM you choose. Hence, make sure you purchase the right CRM for the company.

These are some of the various advantages of using the CRM tools for your business. The new trend in CRM modeling needs the platform to be versatile, adapt to newer and existing platforms, be accessible through various mobile devices, and deliver personalized customer satisfaction. It is not necessary to have a large customer base to incorporate the CRM software. Even small businesses can install CRM since it is a formidable tool that increases customer interaction and channels it through efficient processes. Cloud CRM is the latest talk in the market and should be analyzed while choosing an option for the CRM tools.

Choosing a CRM tool:

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The Key features are:

1. It should be easy to use.
2. The customization of the CRM should be done effortlessly, which includes the scalability factor.
3. Integration of the CRM with common platforms should be easy.
4. Certain CRM’s have a sole purpose of satisfying a niche in the industry. If you are catering to a niche sector, search for the right CRM service that will boost your industry.
5. One of the key factors is mobility, which needs to be taken into account if you are investing in a CRM. Mobile and tabloid access are the basic needs for investing in a CRM in this age.
6. All the credentials and valued information needs to be held safe, which is why you need to install a CRM that will withstand cyber attacks and ensures that no malware blocks your work.

So choose the right CRM software with all these points in mind. It is essential to choose wisely, since they are beneficial only on a long term basis. Choose from the best CRM softwares to put your business in the right direction.

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