CRM Types and How They Influence Your Business
Understanding customers' needs is one of the key priorities to deliver clients the best solution. Communication with each one becomes a process that demands time and effort for your managers. In this case, it is better to rely on CRM to streamline all processes and manage information about clients in one place. There are several CRM types representing functions for accurate interaction with clients and leads. Let's dive into it and figure out how they influence your business.
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Operational CRM (OCRM)
Such operating systems facilitate interaction with clients/leads, collect and systematize data about deals, provide invoicing and much more. These systems cover useful functions for sales and marketing departments to provide customer support.
How OCRM influences your business
- One data storage promotes fast information search by the client, deal, and other parameters;
- Automatic report on each worker's activity;
- Automatic request submit from clients;
- Distributing and appointing tasks to the team members and among departments;
- Lead scoring automation gives you insights into lead’s priority.
Applying operational systems gives considerable results for banks too. They include a large number of departments, responsible for different tasks. Therefore, collecting, processing and analysing information about daily operations are carried out via various interfaces. CRM allows to unify all data and work with them through one platform. On the one hand, it accelerates the process of providing services to clients. On the other hand, it simplifies work within departments.
Opportunities OCRM provides
- Saving data about your clients, deals, tasks, etc.;
- Document flow automation;
- Tracking deal status through the sales pipeline;
- Assigning task to employees and keep under control the workflow.
Analytical CRM (ACRM)
The analytical system analyzes the information that you collected about clients. The system generates obtained data to help the manager in decision-making and effective business strategy planning.
How ACRM influences your business
Analytical systems allow to find behavioral patterns of customers and investigate what products they prefer most. The final results help increase cross-sales efficiency as you know what type of product to suggest. It is possible to know more about your audience needs with the buyer’s journey investigated and thus offer them a product that meets expectations.
System algorithms allow to receive regular reports about monthly/annual income, the number of closed deals, sales amounts and customer retention rates based on information that comes to the database.
Besides, using this CRM helps identify where your clients come from and what communication channels they prefer. Due to this, you gain knowledge of touchpoints that bring the biggest income.
Opportunities ACRM provides
- Automatic segmentation of the target audience;
- Sale cycle monitoring;
- Sales analytics display;
- Prediction and analysis of sales dynamics.
Collaborative CRM (CCRM)
Collaboration systems allow establishing closer connection with clients. Here departments and clients can exchange information (suppliers, sales managers or distributors) and clients.
The distinctive feature of collaborative CRM is that it is aimed at customer satisfaction and loyalty.
How CCRM influences your business
Collaboration systems give the opportunity to manage the internal company processes. For example, when marketing department collect customer feedback about the services, they automatically receive a valuable resource showing what aspects should be changed.
As a result of information exchange between consumers and service providers, it is possible to define new directions for service improvement, product development, price policy, etc.
Opportunities CCRM provides
- Customer feedback via CCRMs help figure out what they expect from the product and how your service should be improved;
- You can keep all the documents in one place and have open access at any time.
Though all systems described above include similar functions, they are designed for different goals. Therefore, it is necessary to define the future business strategy in order the chosen tool to facilitate current situation but not complicate it.