"CRM is a distribution marketing platform that companies should know more about. Lets find out here!"

Customer Relationship Management (CRM) is one of the important tools for companies. This is because it can improve the experience and interaction of consumers or customers between each other and integrated. Want to know more about CRM? Let's take a look at this article!

What is CRM?

CRM is a technology to manage all your company's relationships and interactions with customers and potential customers. The goal is simple, to improve business relationships to grow your business. CRM systems help companies stay connected with customers, streamline processes, and increase profitability.

When people talk about CRM, they are usually referring to CRM systems, tools that help with contact management, sales management, agent productivity, and many more. Ivosights' CRM tools can be used to manage customer relationships across all customer channels, which includes marketing, sales, digital marketing, and customer service interactions.

CRM solutions help you focus on your organization's relationships with individuals - including customers, service users, colleagues, or suppliers - along your lifecycle with them, including finding new customers, winning their business, and providing additional support and services across the relationship.

Read More: 8 Fungsi Customer Relationship Management Bagi Bisnis

What is the importance of CRM for Companies?

There are many benefits to having one, and in this article, we will discuss some of the most common reasons to start a CRM. At its core, CRM is all the activities, strategies, and technologies that companies use to manage their interactions with their current and potential customers.

In the adage, "the customer is king." CRM helps the business build relationships with their customers which, in turn, creates customer loyalty and retention. Since customer loyalty and revenue are qualities that affect a company's earnings, CRM is a management strategy that increases profits for business.

At its core, CRM creates a simple user interface to collect data that helps companies recognize and communicate with customers in a measurable way. The better a business can manage its relationship with its customers, the more successful it will be. Therefore, IT systems that specifically address the issue of dealing with customers are gaining popularity every day. Beyond the application of technology, CRM is also a strategy to learn more about customer needs and behavior to develop stronger relationships.

4 Types of CRM You Should Know!

After knowing the definition and function, there are certainly several types of CRM that you should know. For more information, let's look at the following explanation on this one.

#1 Strategic CRM

Strategic CRM is a type of CRM where the business puts the customer first. It collects, segments, and applies information about customers and market trends to generate better value propositions for customers.

The business considers the voice of the customer important for its continuity. In contrast to Product-Centric CRM (where the business assumes customer requirements and focuses on product development which sometimes leads to over-engineering), here the business continuously learns about customer requirements and adapts to them.

These business will know the buying behavior of customers because, a happy customer buys more often than other customers. If any business does not consider this type of CRM, it risks losing market share to those business, which are winning at strategic CRM.

Baca Juga: 4 Strategi Customer Relationship Management

#2 Operational CRM

Operational CRM is oriented towards customer-centric business processes such as marketing, sales, and service. It includes the following automations: Sales Force Automation, Marketing Automation, and Service Automation.

#3 Analytical CRM

Analytical CRM is based on capturing, interpreting, segregating, storing, modifying, processing and reporting customer-related data. It also contains internal business-wide data such as Sales Data (products, volume, purchase history), Financial Data (purchase history, credit score) and Marketing Data (response to campaign numbers, customer loyalty scheme data).

Basis CRM is an example of Analytical CRM. It provides detailed analysis and customized reports. Business intelligence organizations that provide demographic and lifestyle data of customers in a wide area pay a lot of attention to internal data to get more detailed information such as, "Who are the most valuable customers?", "Which consumers responded positively to the last campaign and converted?", etc.

Analytical CRM can organize different sales approaches for different customer segments. In addition, different content and styles can be offered to different customer segments. For customers, Analytical CRM provides customized and timely solutions to problems. For business, it provides more leads for sales, and customer acquisition and retention.

#4 Collaborative CRM

Collaborative CRM is the alignment of resources and strategies between separate business to identify, acquire, develop, retain, and sustain valuable customers. It is used in B2B scenarios, where multiple business may conduct product development, market research, and marketing together.

Collaborative CRM enables seamless communication and transactions between business. Although traditional means such as airmail, telephone, and fax are used in communication. Collaborative CRM uses new communication systems such as chat rooms, web forums, Voice over Internet Protocol (VoIP), and Electronic Data Interchange (EDI).

Based on the explanation above, CRM is a tool that companies should know more about. With CRM the company will be integrated and more productive than not using CRM, this can certainly be a solution for those of you who want to develop more business or expand. Ivosights is one of your options so that you can expand your business and recognize customers (audiences). With this, of course this will add its own charm. For more details click here!