Types of CRM – Choose the Right One
Customer Relationship Management Systems have been around for quite a while now. The benefits of CRM are so well known that most businesses often jump to a conclusion without enough deliberation. That is one of the reasons many businesses face failure with their CRM. A little consideration and efforts at the time of implementation can save you lot of time and money.
By consideration, we don’t mean contemplating whether your business needs a CRM or not. CRM is no longer a choice, it has become an essential need. While every business requires a well implanted CRM, the type and feature they need might vary from organization to organization.
Now, this might be a news for many people but there are several different types of CRM. These types are defined by the feature they offer and the requirements they fulfill. If you wish your CRM implementation to be a success, one of the foremost things to do is analyze the type of CRM your organization requires.
In order to make the decision easier for you, here are three of the most common types of CRM available:
One of the most commonly implemented types of Customer Relationship Management system is an operational CRM. The major purpose of an Operational CRM is simple and straightforward. It provides a unified view of the customers across all the channels throughout the organization.
An operational CRM supports processes that involve direct interaction and communication with the customers. This communication can be channeled through various means i.e. fax, email, phone, etc. This kind of CRM has a Customer Contact History feature where details of every interaction are stored. This information includes personal data, preferences, requirements, and topic discussed during that particular interaction. A typical Customer Service and Support System CSS is a basic example of an Operational Customer Relationship Management System.
Analytical Customer Relationship Management System goes one-step further and uses the data collected during an interaction for a deeper analysis of the target market and customer base. This analysis helps the sales team in understanding customer’s demand, their behaviors, as well as changes occurred and expected in the demand and behavior. Using the information extracted by such analysis, your team can approach the prospects and customers with more relevant offers and proposals.
With an Analytical CRM, organization can increase its ROI due to higher relevancy between service/product and customer requirements. As a result, you are able derive the true value of your customers for organization.
A Collaborative CRM is all about taking the communication to the next level. It not only communicates, it collaborates with the customers as well as the suppliers, business partners, prospective targets. As a result of this multi tiered communication, the level of customer services is greatly enhanced across all of the marketing channels.
A collaborative Customer Relationship Management System plays a very important role in enhancing and maintains the customer loyalty factor. A Partner Relationship Management System is a common example of a Collaborative CRM.