In the past few years, the attention of the global markets has shifted from sellers to clients. Currently, customers are more influential in any business when it comes to driving factors of the business.
There are various types CRM depending on the changes in customer’s resources, need for sharing information, and the swiftness of business processes, portfolios and speed of handling large data.
Customer relationship management is essential for both small and large businesses. The primary goal of CRM is to enable any company to understand the client’s needs and identify and identify new prospects by building a strong customer and organization relationship.
The different types of CRM include:
- Operational CRM: It helps to streamline business process like sales, service and market automation. The primary purpose of operational CRM is to generate leads, turn them into prospects, capture all the necessary details and offer customer support throughout the lifecycle of a customer.
- Analytical CRM: It is based on capturing, interpreting, processing, reporting and storing customer- related data. It also holds the marketing, finance and sales data which facilitates analytics and customized reports. This type of CRM gives personalized and timely solutions to the customers. On the business part, it provides more prospects for sales customer acquisition and retention.
- Collaborative CRM: Enables organization to share customer’s information among various business units such as marketing sales and technical team. Its primary goal is to improve the quality of customer services to gain loyalty and acquire new customers. It’s used in B2B businesses where various organizations can conduct market research, product development and marketing jointly.
In a nutshell, every business should adopt these types of CRM to ensure their continued growth. They include Operational, analytical and collaborative CRM which helps in generating of leads, getting sales, communication, saving customer’s contacts, marketing and improving quality of customer services.