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.
Salesforce is the best suitable CRM for
large established businesses and Zoho
is the best CRM for growing or small-scale businesses.
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,
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Management and Visit Planning.etc.
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