CRM – Definition, Purposes and Types of CRM

What Is CRM

CRM stands for customer relationship management. It is a process or technology that helps businesses or organizations manage and improve their relations with their customers and clients. The motive of CRM is to keep the customers happy and satisfied with their services and products. With the help of CRM, companies and organizations can easily connect with their customers and can analyze their transactions, whether they are profitable or not.

In the process of CRM there are a lot of strategies and technologies to manage the customer behavior and transactions. Companies keep the customer data and use these data to check whether there are any discrepancies or not and also to improve the relations. To analyse the data, the CRM system collect all the data from different vital sources, such as company’s website, telephone, emails, and other social media platforms. In one line, CRM stands for the direct connection with customer including sales and services, analysis of customer behavior and feedback. All these efforts are made for making organisations benefit.

Purpose of Customer Relationship Management (CRM)

Compilation of Data

There are a lot of Benefits of Using CRM, In the CRM process, data of organizations are stored and kept. This data may be of different types. This is stored through various sources, like company’s emails, telephone dairy, computer. These data help the organization to improve the performance and make the relations with customers better and healthy.

Improve the base of organization

CRM system has produced the amazing changes to the organization including various improvements. It is estimated that CRM helps to increase sales, sales productivity, customer satisfaction and also helps to take rapid decision. All these efforts manage to increase the revenue of the organization. It is estimated that these data are affected by 30 to 35% with the help of CRM.

Better Gain from Current Customers

CRM is known for customer’s satisfaction. Once customers get satisfied then we can easily earn more benefits from those customers. In CRM, organizations try to understand customers and after get succeed in this, they can earn by cross selling, upselling and all that provides more opportunities for more business from existing customers. If an organization turns a customer to a regular customer, then that organization can earn up to 30 %  more from that particular customer.

Provides Better Services

In this technology era, all the things are changed. The way of doing marketing or purchasing has also been changed. In current time, a customer needs fast and cheaper services. If a company follows CRM, then it can render pleasing services so that customer gets happy. The CRM system should cover all the aspects that make company customer satisfied.

Quality of Products and Services

Today, each and every customer wants to get high quality product and services. Some of the customers never compromise with the quality of products, even they can pay more for the quality-oriented products. With the help of CRM, company can know all about the choices of customer and make sure about the quality. After knowing the choices of customers, company makes all the efforts to keep the quality of content high.

Personalized Customer

CRM manages to create a list of personalized customers. In this list all the bigger name are listed and the important customer who have been working with company for a long time. After personalizing customers, knowing about their choice, requirements and demands would be very easy and they all be benefitted from company services. These personalized customer makes a lot profit to company.

Categorized Customers

With the help of CRM an organization can categorize the customers as per their needs, product choice, similarity, area, purchasing power, branded items or many more. After discrimination, the organization can focus on different customers separately and can provide better services to them. This process helps boost the organizations and make their customers satisfied.

Cost Effective

CRM helps organizations to decrease their cost. The cost might be of different types. The cost may be of promotional cost, marketing cost, timing cost. CRM created such an environment where company expends less and earns more. CRM also creates a splendid way of communication with customers where there is no need of wasting time in making transactions.

Customer Feedback

In CRM, companies easily connect with their customers. They regularly take feedback for their products and services. If they find any drawback in their services, they immediately improve that fault and manage to please the customer. To take the feedback, companies create a customer care centre. With this centre, company tries to solve all the problems at once. This system makes customer very happy and attracts them more towards the company.

There is various CRM software that helps grow your relation with your customer. We are going to discuss all significant CRM software; they are as follows.

The Best CRM Software in 2022

Zoho CRM

This CRM software provides all the solutions to your problems. This software is considered one of the best software for small to medium size organizations. You won’t need to use other types of software for various departments. It works for all types of departments. It provides easy-to-use interface that makes its user convenient in use. The users don’t need much training to go through it. This software features all the information regarding its functions so that anyone can easily works on it. Zoho CRM offers a free plan that can be used by maximum users. This software renders multivital features including task management,  lead management, workflow modules and etc. There is a paid plan for small businesses that starts from $14 per month.

EngageBay CRM

EngageBAy is another one of the best CRM software that features multivarious solution to different types of business organization. EngageBAy is widely known for covering your three essential departments including sales, marketing and services. This software collects data and provides to these department so that work flow can be easily maintain. This software helps organization to plan the work chart and set a theme to work according plan. There is one more important feature of this software and that is automation of mails. It maintains company’s emails, messages and helps in replying them. All these tasks are performed in a splendid way so that the user finds it convenient. It offers two popular plans including a free plan and a Growth plan that costs $ 29.99 per month.

Hubspot CRM

it is one of the best free CRM software Hubspot works for organization to maintain their relation with customers and enhances the bond between them. Hubspot makes it easy to check the behaviour of your customers. Hubspot also provides different solutions for different types of problems like sales, marketing and customers. This software provides various vital features at its free plan including contact management deal tracking and also boosts your sales. It features its paid plans onwards $ 40 per month. If you take an annual package then it would be of $50 per month, but you will get addition important features.

SalesFlare

Salesflare software indicates through its name that it is known for improving organizations sales. It is considered one of the leading software for lead management of small businesses salesflare works in amazing way to gather the customers information through contact information, emails, messages, social platforms and many other sources. The software stores all these information either in a separate section or in a combines group. Salesflare automatically manages meetings, calls and other transactions. Whenever your customers make any movement, this system will enable you to reach customers. This platform offers three popular plans including Growth plan, Pro plan and Enterprise plan that starts at $29, and $49 and $99 per month respectively.

Freshworks CRM

This software boasts to be the best software for sales teams. It provides such services that can enhance the relations between organization and customers. Freshwork enables you to reach the best deals and make them profitable for you. Its in-built email and phone system makes the process easy. This system covers different significant services including lead, management and deal management task and appoint management, data tracker, website visitor tracker. Freshwork features user-friendly dashboard that assures you that your message and replied will be directed to right person. There are four amazing premium plans that will be suitable for each type of businesses. They are Blossom, Garden, Estate and Forest charges $12 per month, $25 per month, $45 per month and 79 per month respectively.

Zendesk Sell

This CRM software is mainly known for small businesses. This focuses on customers satisfaction with its product and services. Zendesk tries to collaborate across different departments and makes efforts to hike company’s sales and revenue. Zendesk collects the data from different sectors and analyses them to find out the conclusions. Zendesk mainly offers two plans for their customers, entry plan and upper plan. They both carry their own specifications its entry plan. Because it features significant CRM services including sales streamline, basic reports and it also alarms you whenever there are any vital changes in sales. Other side its upper plan offers some advance features including document storage space, sales-forecasting and advanced data analytics. Zendesk stores emails in bulk number and provides unlimited email templates that makes email marketing very effectively.

Keap CRM

This is a solution to those businesses that are small in size and that are new also. It is considered that Keap is one of the best CRM platform that don’t need too much knowledge or training to operate on. Anyone without any deep knowledge can handle and maintain this software. Keap provides a migration team that import the data from other CRM platforms. Its care service centre provides 24 hours help through live chats, phone & emails for week days. Keap offers various amazing plans for its users.