Types of CRM software and their benefits
Thu | January 2022
The customer is always right. We know that. So, what technology platform can you use to take care of your recurring customers, manage new leads, and improve your customer service performance?
Well, Customer Relations Management (CRM) softwares, of course. As the name states, "CRM" platforms help businesses manage customer relationships. We're talking about current and potential customers. Read on and find out how these tools can radically optimize how you connect and keep track of customers.
Can CRM software benefit small businesses?
Yeah, they help build better customer relationships and increase productivity.
For example, whenever a client calls you on the phone, you'll have to know their name, past purchase history, and basic needs. How can you do this while handling a heavier volume of leads and customers? With CRM software. CRM software can help you have real-time access to your customers' most relevant data.
Also, statistics have shown that companies that use CRMs software benefit from a 50% increase in employee productivity and better customer relationships. The truth is that you'll have to invest resources, time, and capital to acquire this type of software. But trust us, it's worth it. Let's review ways that CRM software can help improve your business processes.
How can customer service be improved with CRM?
CRM software can help you document and classify important and personalized information about each customer.
You can use these systems to keep a repository of customer profiles and assign them to their employees to follow up on each case individually. This way, your employees will have more in-depth information about each customer.
They are handling customer relationship feedback and improving current customer processes. CRM tools create a solid system to ensure that businesses can receive constant feedback about what's working and what isn't.
It is improving Marketing & Sales communication channels. CRM software can help your marketing team have better-informed decisions about a target audience and promotional campaigns. By storing and classifying this information, you'll be able to reach new leads that can turn into future customers.
It increases a company's team productivity. It will also help you align teams from different departments to work together as a team, share information, and improve performance.
Types of CRM software
1. Collaborative CRM systems
This software allows you to improve cross-team communication related to your company's customer service. Collaborative CRM systems can include your company's marketing team, sales, customer service, technical support, and external customers.
How can Collaborative CRM software help your business?
More insight about your customers: You'll be able to create a map of interests for each customer and then track why, how, and from where they are connecting with your company. This will help you make better decisions in the long term, especially if you find repetitive patterns in the issues or concerns that customers might bring to your attention.
Channel Management: It's the perfect way to gather all the data collected from the different channels customers choose to connect, either by social media, email, or phone. With collaborative CRM tools, you'll reach customers from their channel of preference.
You can also use collaborative CRM: to streamline activities, for video conferences, integrate apps, and manage workgroups in one place.
2. Operational CRM systems
This software aims to integrate three essential parts of a business: Sales, marketing, and support. They are ideal for companies that want to streamline workflows, organize their information, and reduce repetitive tasks to think about the bigger picture.
How can Operational CRM software help your business?
Automated Processes on Salesforce: CRM operational software can make the lives of sales representatives a little less busy. It distributes leads and delivers them to the right sales representative; it can also rank leads and show the team which ones are the most worth going after.
Marketing Automation: You'll be able to automate complex email campaigns and even conduct event-triggered campaigns. We're talking about campaigns where each customer's experience generates a new reaction to the system. For example, when customers sign up for a free online course, they might get a follow-up email to recommend books recommended in that online class that your business also sells.
Customer Service Automation: You can automate the customer service experience by giving your customers software to help themselves on your website. For example, you can have customers set appointments through an app or provide them with the option to have regular payments into their accounts if they acquire a service. You can also include chatbots to set up a knowledge base they can reach out to in need of help.
Operational CRM can also help you: improve workflow, store, keep track of essential data, automate tasks, and manage different marketing campaigns in one place.
3. Analytical CRM systems
Analytical CRM software are perfect for data analysis and making more insightful decisions in the long term. It's an ideal tool if your business has been running for years now and you have a massive amount of information scattered everywhere.
How can Analytical CRM Tools help your business?
Data Storage: This tool will help you keep information gathered from different sources over the years in one place. If can easily reach, collect, and classify this information. Then, you'll be able to improve your data-analysis skills and develop more optimized reports that can help you with future decisions.
Data Mining: You can use data mining to help you find patterns and give a newfound meaning to this information. You can do this through association, classification, or even deduction. For example, if you find out how specific audiences based on demographic traits found your company online, you'll know how to finance these channels in the future. This is for ambitious business owners who enjoy looking at the BIG long-term picture.
Access working capital to invest in CRM software
Are you already thrilled about the vast array of possibilities CRM software can offer for your business but don’t have the resources to make it happen? You’re probably juggling many costs right now with your own business, so don’t sweat it. You don’t have to take the cash out of your pocket to invest in your business’s technology! You can easily access alternative funding programs in days, not months.
Connect with one of our agents at One Park Financial. Our programs connect business owners with working capital with minimum requisites. If you have been in business for three months or more and generate at least $7,500 in monthly revenue, this might be the right funding program for you. Check if you pre-qualify in minutes. You can save time, money, and resources and finally optimize your customer experience this year!
Disclaimer: The content of this post has been prepared for informational purposes only. It is not intended to provide and should not be relied on for tax, legal, or accounting advice. Consult with your tax, legal, and accounting advisor before engaging in any transaction.