CRM
is software that helps businesses automate repetitive processes for efficiency,
track customer data, and boost customer satisfaction. In the past, global
marketers have shifted from sellers to customers. Today, customers are more
powerful than sellers, if we consider the driving factors of market. We have
different types of CRM according to the changes in customer portfolios, speed
of business operations, requirement of handling large data, and the need of
sharing information, resources, and efforts jointly.
CRM
systems are divided based on their prominent characteristics. There are four
basic types of CRM systems: (Learn more from SAP CRM training by experts).
- Strategic CRM
- Operational CRM
- Analytical CRM
- Collaborative CRM
Strategic CRM
Strategic
CRM is a type of CRM in which the business puts the customers first. It
collects, segregates, and applies information about customers and market trends
to come up with better value proposition for the customer.
The
business considers the customers’ voice important for its survival. In contrast
to Product-Centric CRM (where the business assumes customer requirements and
focuses on developing the product that may sometimes lead to over-engineering),
here the business constantly keeps learning about the customer requirements and
adapting to them.
These
businesses know the buying behavior of the customer that happy customers buy
more frequently than rest of the customers. If any business is not considering
this type of CRM, then it risks losing the market share to those businesses,
which excel at strategic CRM.
Operational CRM
Operational
CRM centralizes the business process, includes Sales, Marketing and Service
automation. The main objective of this kind of CRM is to generate leads, change
them into contacts, hold all required details and offer service throughout the
life cycle.
Collaborative CRM
Collaborative
CRM is otherwise called as Strategic CRM, which enables an organization to
distribute customer data among various business units like the sales team,
finance team, marketing team, service team and support team. The purpose of
collaboration is to uplift the quality of service and customer satisfaction.
Collaborative
CRM benefits are as follows:
- Recognizes customer service payment reduction opportunities.
- Combines data to create an improved customer service overview
- Promotes customer channel communication
Collaborative
CRM enables smooth communication and transactions among businesses. Though
traditional ways such as air mail, telephone, and fax are used in communication,
collaborative CRM employs new communication systems such as chat rooms, web
forums, Voice over Internet Protocol (VoIP), and Electronic Data Interchange
(EDI).
There
are collaborative CRMs with in-built Partner
Relationship Management (PRM) software application which helps in
managing partner promotions. SugarCRM
is a popular collaborative CRM. It enables expert collaboration and provides
state-of-the-art social capabilities.
Analytical CRM
Analytical
CRM helps management, marketing, sales and support organization to determine
the desirable way to serve their customers. Data analysis is the major function
of this type of SAP CRM applications.
It examines customer information, coming from various touch points, to get
valid insights about the current status of an organization. It helps management
to take the honorable decision, marketing executives to know the campaign
effectiveness, sales administrators to increase sales and support organization
to improve quality of support and build the strong customer relationship.
Analytical
CRM can set different selling approaches to different customer segments. In
addition, different content and styling can be offered to different customer
segments. For the customers, analytical CRM gives customized and timely
solutions to the problems. For the business, it gives more prospects for sales,
and customer acquisition and retention.
Learn SAP CRM
SAP
Trainings Online provides best SAP training with our training learners can become expert in CRM concepts like
Organization Management, Account Management, Territory Management, Product
Master data, Transaction processing, Lead Management, Opportunity Management,
Quotation Management, Order Management, Contract Management, Activity
Management and Visit Planning.etc.
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