Customer relationship management (CRM) software manages the relationship and conversations of customers.
A CRM connects all data from sales leads and customers in a unified place. Also, it unifies conversations, documents, quotes, purchases, and tasks linked with each client.
Thus, it helps organize and unify customers’ info, making it easy for customer support to access it.
This article contains vital info about Customer Relationship Management (CRM).
Having said that, we will be focusing on the following:
- Definition of Customer Relationship Management (CRM).
- What is CRM Software?
- How does a CRM software work?
- Basic CRM components.
- Why is CRM important in business?
- Benefits of CRM.
- Type of CRM systems.
- Examples of CRM software. wikipedia
Definition of Customer Relationship Management (CRM)
Customer relationship management (CRM) software manages the relationship and conversations of customers.
A CRM connects all data from sales leads and customers in a unified place. Also, it unifies conversations, documents, quotes, purchases, and tasks linked with each client.
Thus, it helps organize and unify customers’ info, making it easy for customer support to access it.
What is CRM Software?
CRM software is a tool that manages customer conversations and automates sales processes.
Also, it tracks leads, plans, organizes opportunities, and improves customer service.
It also allows its user to maintain a full view of customer conversations. As well as provide unique customer experiences.
How does CRM software work?
CRM software allows you to manage relationships with actual and potential customers.
Also, you can track conversations with the company and collects info about customers.
Hence, it allows you to gather customer info from several platforms. Thus these platforms include; contact forms, emails, phone calls, social media, etc.
That’s not all, it also offers automation of repetitive tasks. It also sets reminders for important events and reminds users of important things.
However, some CRMs have analytics abilities. And allow you to track various marketing efforts to generate leads and conversions.
Finally, CRM software offers useful tools. These tools help your team manage sales and marketing. And also get qualified leads and opportunity management. As well as forecasting, and closing deals.
Basic CRM components
Customer Relationship Management (CRM) software is made up of several components.
These components work together to improve your sales and marketing efforts. As well as your customer experience.
Hence, this article covers the basic components of Customer Relationship Management (CRM) software:
Sales Force Automation
This is an essential component of a CRM. It includes forecasting, tracking possible interactions as well as recording sales processes.
It helps you achieve improvement in the development and growth of your business.
However, the sale force automation is made up of other elements likes;
- Account Management
- Opportunity Management
- Forecasting
- Email Management
- Pipeline Analysis
- Contact Management
- Activity Management
- Lead Management and Reporting.
Human Resource Management
It involves using and applying human resources and skills in a particular situation.
Hence, it makes sure that the skills and logical levels of pros match their tasks.
Lead Management
Lead management help turn potential customers into loyal customers. Hence, it manages customers until they become active customers.
Also, lead management keeps track of sales leads as well as their distribution.
Customer Service
Customer service is an important component of a CRM. It makes business easier by proffering solutions and help to customers.
Also, it caters to customer needs which boosts the loyalty and trust of the customers.
Workflow Automation
Workflow Automation reduces excess costs. And prevents the repetition of a particular task by different people.
Marketing
This involves planning and carrying out strategies to sell the product. Hence, CRM helps its process by improving the value of these strategies.
Also, marketing automation consists of other elements likes;
- Campaign Management.
- Activity Management.
- List Management.
- Call Management.
- Mass Emails.
- Document Management and Reporting.
Analytics
This component studies and represents data to observe the trends in the market. Hence, it makes an in-depth study of info needed to calculate the progress in the business.
Business Reporting
It allows you to know the position of the company at any instance. Also, it provides business reports and export business reports for external use. it also searches for historical data as well.
That’s not all, it also allows you to compare business reports.
Pipeline Management
Pipeline Management search for the most qualified leads. And provide the chance to reach out to the best offers.
Why is CRM important in business?
CRM software is important in any business. Some businesses don’t understand their customers and tend to struggle to compete.
It links your customer data into a unified platform. Hence, this allows sales teams to manage, analyze and predict potential clients.
Thus, CRM is important for businesses that want to manage their customer relationships.
Hence, without a CRM, a business cannot tell how customers engage with their sales team. As well as their marketing campaigns, and customer support teams.
Having said that, a CRM helps businesses build a relationship with their customers. And to create trust and customer loyalty in return.
Benefits of CRM
CRM software can be used in several ways and provide many benefits to businesses.
Hence, here are some major benefits of CRM software:
Better customer service
CRM software is mainly created to improve customer relationships. Hence, a CRM allows you to have every detail about your customer at your fingertips.
Thus, it provides a better customer experience, which helps to boost customer satisfaction.
Higher customer retention
CRM has useful tools to help you locate issues. And address them quickly with your customers to keep them.
Also, it prompts you to reach out to previous customers whom you haven’t contacted in a while. Hence, it does this to make sure they don’t feel neglected.
Unified Customer Data
CRM software has a unified database with complete info on your customers. Thus, making it easier to be accessed by sales reps or customer support.
Customer segmentation
CRM software allows you to group data by categories and criteria. Thereby making it easy to create more focused lists.
Hence, you can sort customers’ contacts by data that have been collected about them over time.
Create reliable sable reports
It allows your team to organize data about current and potential customers. Hence you can do this by using CRM software’s dashboard and reporting features.
Also, employees can automate and manage their pipelines, and track quotas and goals. As well as check their progress on each project.
Type of CRM systems
A CRM helps keep track of all your customers and potential customers. But it’s important to get the right CRM option for your needs. Hence, in this article, we group CRM solutions into three major types.
Having said that below are the types of CRM systems:
Collaborative CRM systems
Collaborative CRM is also known as strategic CRM. It unifies customer data and makes it easy for marketing, sales, and service pros to access it.
It is focused on improving the customer experience. Hence, it does this by giving your whole team better info about your customers.
Hence, this includes conversions as well as other engagement histories.
Also, it offers integrations with other apps. Hence, this allows you to collect info from different platforms. And also move smoothly between them.
Collaborative CRM comprises two basic parts; Interaction Management and Channel Management.
Interaction Management distributes customer info across your team. Thereby ensuring consistency and quality customer interactions.
Hence, by having access to customers’ info, your team can meet the needs of these customers to keep them.
Channel management increases customer satisfaction across channels. And improving the customer experience in each channel.
Operational CRM systems
Operational CRM allows you to access your business data. And engage in business processes using any device.
Also, it provides an interface for your team to connect as well as third parties in-app.
Hence, you can manage teams and set tasks to boost organizational transparency.
Thus, most operational CRM allow you to set privacy permissions on sales reports, etc.
Also, you can link with social media, Gmail, Microsoft Outlook, and other digital tools.
Analytical CRM systems
Analytical CRM systems do not handle customer interactions. Instead, it takes the info your business has generated about customers and stores it in a safe place.
Hence, it also analyzes this info so you can use it to improve operations.
Thus, these data can come from any channel. Hence, channels like; social media, live chat, phone calls, company website, etc.
Also, it allows you to group customers, forecast trends, and plan marketing strategies. As well as targeted sales strategies for future use.
Top Examples of CRM Systems
Here are some top examples of CRM Systems:
HubSpot is a CRM software. It stores all contact info in a unified and programmable database.
Hence, Hubspot has three pricing plan that suits any business. Thus, here are Hubspot pricing plans:
Starter Plan
This plan costs 30 USD monthly.
Professional Plan
1,600 USD/monthly.
19,201 USD /yearly.
Enterprise Plan
5,000 USD monthly.
60,000 USD yearly.
For more info about Hubspot, visit https://www.hubspot.com.
Bitrix24 is a complete CRM software with management, communication, and collaboration tool. Also, it helps manage sales as well as customers to improve business activities.
Hence, Bitrix24 has a free plan that allows you to access some features for free. its pricing plan is as follows:
Basic
61 USD per month monthly.
61 USD per month every 3 months.
49 USD per month yearly.
Standard
124 USD per month monthly.
124 USD per month every 3 months.
99 USD per month yearly.
Professional
249 USD per month monthly.
249 USD per month every 3 months.
199 USD per month yearly.
Enterprise
494 USD per month monthly.
499 USD per month every 3 months.
399 USD per month yearly.
However, visit https://www.bitrix24.com for more info.
Zoho is an online CRM software. It helps you manage your sales as well as marketing, and customer support.
Having said that here are Zoho pricing plans:
Standard
18 USD per user/month (monthly).
12 USD per user/month (yearly).
Professional
30 USD per user/month (monthly).
20 USD per user/month (yearly).
Enterprise
45 USD per user/month (monthly).
35 USD per user/month (yearly).
Ultimate
55 USD per user/month (monthly).
45 USD per user/month (yearly).
- Pipedrive
Pipedrive is a sale CRM tool that allows you to manage and keep track of contacts, leads, and deals.
Hence, Pipedrive offers four pricing plans and they are as follows:
Essential
9.90 USD per user/month (annually).
11.90 USD per user/month (monthly).
Full payment of 118.8 USD per user/year.
Advanced
19.90 USD per user/month (annually).
24.90 USD per user/month (monthly).
Full payment of 238.8 USD per user/year.
Professional
39.90 USD per user/month (annually).
49.90 USD per user/month (monthly).
Full payment of 478.8 USD per user/year.
Enterprise
59.90 USD per user/month (annually).
74.90 USD per user/month (monthly).
Full payment of 718.8 USD per user/year.
For more info, visit https://www.pipedrive.com
Other examples of CRM Systems
https://www.zendesk.com
- Freshworks
https://www.freshworks.com
https://www.salesforce.com
- ActiveCampaign
https://www.activecampaign.com
- Copper
https://www.copper.com
- Microsoft Dynamics 365
https://dynamics.microsoft.com
