What are the different types of CRM?
3 types of CRM
CRM software is used to manage customer relationships and sales interactions. Many people think that CRM and sales force automation are the same thing, but they are not. It is much more. Marketing should encompass customer support, sales and affiliate management. It includes every solution that helps you sell more, improves the customer experience (CX) , and increases customer retention and loyalty .
CRM systems are classified differently. So why? Because the needs of companies are wide-ranging and deep. Even if they are in the same industry or geographic region, one company’s CRM needs can be very different from another company’s. Let’s take a look at the different types of CRMs.
Operational CRM
Operational CRM streamlines and streamlines a company’s primary business processes. In doing so, it extends to marketing, sales and customer service, which helps companies find leads and convert those leads into contacts. It also provides the customer service infrastructure needed to satisfy and maintain customers. Operational CRM has three key components.
1 – Marketing automation : Marketing automation streamlines many of the marketing processes in omnichannel digital marketing campaigns. This can include email marketing as well as live chats, website monitoring and lead management .
2 – Sales automation : At its core, sales automation streamlines many of the time-consuming and manual tasks in the sales process.
3 – Customer service : Customer service software automates and speeds up numerous customer service processes such as call center routing and information management. It also provides a variety of customer self-service options, including chatbots, policy/legal compliance management, and automation tools and knowledge bases.
Analytical CRM
The analytical CRM system (CRMS) focuses on connected data, analytics and reporting to help you better understand your customers.
When your CRM can connect to customer behavior and intent data, company data (in B2B sales), and known customer data points, you have accurate, complete, and connected 360-degree customer profiles that you can use to instantly deliver personalized, consistent customer experiences. No matter how or when your customers want to interact, or wherever they are in the buying cycle, you can meet all their expectations.
Collaborative CRM
Sales is a collaborative process. This does not mean that your marketing team and sales team will do sales calls together or work in the same office. But marketing and sales data must work together. Collaborative CRM integrates marketing automation, sales force automation , CPQ , and ERP data so everything works together to close deals, giving each team a clearer view of their customers’ needs and expectations.
There are two well-known types of collaborative CRM systems (CRMS).
- Contact management
Contact management systems are used by sales teams to track contact and account/company information and every customer/lead interaction. Contact management systems form the foundation of collaborative sales processes as they host your first-party customer data.
- Channel management
Channel management systems may include sales, customer service, and marketing systems. For example, digital marketing and account-based marketing (ABM) campaigns work across different channels to reach as many people as possible. Both can be vital parts of a cross-channel marketing strategy that works to engage people no matter where or how they want to interact with you.
Additionally, customer service teams should utilize as many assisted and self-service channels as possible. It can be nearly impossible to predict exactly which channels customers will use (chatbots, call centers or knowledge base searches). To deliver customer service experiences that stand out, you need to be present in all the channels your customers will want to use.
channel management; It also focuses on distributors, wholesalers and other business partner relationships that can expand your marketing, sales and service reach. Partner relationship management systems enable all vendors to share leads, record sales deals, create quotes, collaborate and generate results.
B2B CRM vs. B2C CRM
B2B CRM
Not every CRM tool is equal. B2B sales are generally more complex. It includes more steps and multiple recipients. A sale can take up to 12 months or even longer to complete. Inter-corporate deals are usually larger and may occur less frequently than typical B2C sales. There are fewer potential customers because B2B products are not needed universally. Many buy Coca-Cola every week, but not everyone needs a tire assembly for an all-terrain vehicle.
Given the level of complexity, long lead cycles and player count, you need a data-driven CRM that fits your unique B2B needs.
B2C CRM
A B2C sales environment is generally less complex than a B2B. Sales take days, not months or years, and require fewer touchpoints. Deal sizes are smaller, but there are more items per purchase. Audience and customer segments are not as narrowly defined as in B2B sales. Contacts and customer segments managed in CRM are much broader. Given the need to sell quickly to this broad audience, B2C CRM needs different capabilities than B2B CRM.
