Choosing the right CRM: Aligning business goals with the perfect CRM solution
In today’s business dynamics, CRM is indispensable. Without it, the fabric of effective customer relationships cannot be woven. Yet, 48% of business leaders claim that their CRM fails to fulfil their needs and goals.
What do you think is the reason?
Let’s look at some answers and understand how to choose the right CRM and align business goals with the CRM solution
How do you choose the right CRM for a thriving business?
We all know that CRM is now the most prominent software market in the world and is expected to reach $80 billion in revenues by 2025. But do you know why it is soaring so fast? It is because of its accessibility. Today, nearly 92% of all companies employ CRM to oversee engagements with leads, systematise customer information, optimise daily operations, and more. But almost 50% of them aren’t happy with the results. What they are missing is how to employ the right CRM for their business, select the right CRM that helps them meet their business goals, and drive higher ROI.
There are primarily 4 types of CRMs available in the market today. Let’s explore each of them in detail.
Operational CRM
Operational CRMs are designed for those businesses or organisations that want to optimise their day-to-day operations, manage customer data, and streamline their workflows. Some of its key features are:
Streamline routine tasks such as follow-up email dispatches or appointment scheduling, allowing team members to concentrate on higher-level strategic initiatives.
Operational CRM is equipped with tools to help the sales teams track and nurture leads, directly increasing conversion rates.
With a centralised data platform, customer service reps can access customers’ data easily and respond quickly with personalised assistance, improving customer experience.
Collaborative CRM
As the name suggests, collaborative CRM is designed for businesses where multiple teams or departments are involved with customer interactions and often required to share information. For instance, sales, marketing, or customer service teams can easily share valuable information and insights for a collaborative goal. With increased hybrid work models, collaborative CRMs are becoming increasingly crucial for businesses to enhance cross-team collaboration and desired results.
Some of its features are:
Collaborative CRM ensures effective communication between two or more teams or departments by aligning them to customers’ comprehensive information.
Businesses can offer seamless and personalised experiences with the help of shared information about their customers.
Analytical CRM
Suppose your business involves discerning trends, detecting patterns, and forecasting future behaviours to empower teams to enhance their sales, marketing, and customer service endeavours and make data-driven decisions. In that case, analytical CRM is precisely what you need.
Here are some of its features:
Derive valuable insights through collecting and analysing customer data. For instance, purchase history, demographics, interactions, and more.
Using machine learning and AI, analytical CRMs can forecast customer preferences, product demands and pricing, thereby helping you make smarter decisions.
Strategic CRM or Marketing CRM
Customer-centricity – if that’s your goal, then strategic CRM is what you need. Whether you are a sales team or marketing team, you can launch many campaigns successfully and create long-lasting customer relationships.
Its features include:
With the right tools, segment your customers based on their feedback, preferences, demographics and more.
With strategic CRM tools, you can establish regular contact with your lead/customer, enhance loyalty, and drive business opportunities by offering more personalised experiences across all touch points.
Wrapping it up
Recognising the various CRM types can help businesses enhance operations and boost ROI, making the right CRM choice a potential game-changer. Despite its wide adoption, companies fail to harness its maximum potential. Appstrail understands this challenge and empowers businesses to unlock new levels of success and growth with its new-age Salesforce CRM solutions and time-tested business consulting strategies. When armed with the right resources and expertise, your business can achieve remarkable results.
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