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» The Three Types of CRM
Customer relationship management (CRM) software solutions differ in the functionality they offer. They handle different parts of your organization. You can choose between operational, analytical, and collaborative CRM based on your needs. Here, we will take you through each CRM, how it works, and the top examples in this segment for a detailed understanding.#1 Operational CRM
As the name suggests, operational CRM offers help with simplifying the different processes/operations within an organization. For instance, you might need help simplifying the lead generation processes and their movement from the marketing to the sales team. For this purpose, you need an operational CRM. The operational CRM tools can help a company's key leaders visualize the customer's journey, determine the touchpoints and build the story for interactions. The customers interact with the different teams via website/social media channels for the first time. The company will continue these interactions via chat, Email, and other channels depending on the customer's preferences, responses, and workflow. The CRM will offload most of the work from the marketing and sales team's shoulders. It will manage to create the pipelines, move the leads through the funnel and give a descriptive view into the lead's journey. This will help make the communication and interaction methods to ensure every lead becomes the organization's customer. The operational CRM functions towards automating the tasks and creating more space within the team for other functions.There are three types of automation software within the operational CRM: Sales, Marketing, and Service. The CRM will help these three departments with breaking down their tasks efficiently.-
- The Sales Automation CRM
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- The Marketing Automation CRM
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- The Customer Service Automation CRM
›How They Work?
The operational CRMs will identify the main functions that need to be automated. For instance, when implementing CRM in the marketing niche, you will notice that Email marketing requires workflows and automation. Similarly, it would help if you created a separate workflow to manage SMS and Whatsapp marketing. In sales, you must determine the hot leads and your approaches. Once you have incorporated the automation, you might want to include the reporting and analysis for the different parts of your work. This will help the teams enhance the quality of work. The idea is to leave the conversations and actual service/marketing/sale to the representatives.›Examples of Operational CRM
Here are a few known operational CRMs that work for several companies.- HubSpot: HubSpot is small to large businesses' most preferred operational CRM. It has an extensive range of features designed for the specific teams. You will need to invest in separate CRMs for the teams and improve the automation capabilities of the organization.
- SalesForce: Salesforce CRM is a leading CRM application, available for mobile devices too. It extends Ai-driven analytics for better decision-making. You can easily use the in-built tools and AI-driven processes to enhance the outcome.
- FreshSales: Freshsales is one of the top-notch CRM that extends workflow automation capabilities. It can easily help improve the overall efficiency of your system. You can assign leads, conversations, and other aspects to the concerned sales team member for better outcomes.
›Use Cases
Here are some of the top use cases for operational CRM that can help you realize if it is useful for your business.-
- Automate Repeated Tasks
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- Omni-channel Interactions
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- Lead Prioritisation
#2 Analytical CRM
Companies generate lots of data in a minute. You will notice that your marketing team alone produces a lot of data from the different interactive channels. A single campaign gives away a lot of details about the potential lead. The analytical CRM will help businesses manage the data, read through it and build insights. This CRM will help businesses skim through large data and help decision-makers with the right recommendations.With analytical CRM, you can understand your customers, know the current trends and work through your strategies to improve retention. Let's go through the important components of an analytical CRM.-
- Data Warehousing
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- Data Mining
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- OLAP Tools
›How They Work?
Analytical CRMs are known for detailed analysis of all aspects of data that comes into the system. It helps businesses create effective strategies that can help improve conversions. You will have enough data about the types of campaigns to generate leads. You will know which customer makes the most purchases and how they complete the purchase decisions. You will also know customers' issues while using your products/services. You can determine the existing weaknesses in your current strategies and improve the outcomes of your marketing. From data mining to warehousing, there are several instances where analytical CRM can help.›Examples of Analytical CRM
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- Zoho: The Zoho analytics CRM is dedicated to finding the top insights and helping with recommendations. This is built for small teams that cannot invest in extensive CRM features. Even the free version can help analyze a lot of data.
- SAP Analytics: It uses predictive modeling and a lot of machine learning to help you determine the insights for your business. It also extends forecasting reports for better analysis.
› Use Cases
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- Personalized Interactions
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- Information Repository
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- Improved Segmenting
#3 Collaborative CRM
This is useful in improving collaboration between the sales, marketing, and service departments. Their function is to break down the silos within the organization and prepare it for increased collaborations. Imagine a small organization where the sales, marketing, and service teams sit together. However, when you move this into a large enterprise, separate departments may sit across different spaces. It is also possible they are working in different geographies. As a result, the crucial data that can help improve marketing never reaches the department. To avoid this from happening, the teams need a collaborative CRMThe different functions it handles include:-
- Interactions
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- Communication Channels
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- Document Handling
› How do they work?
Collaborative CRM focuses on customer retention and satisfaction. This happens when the teams that are customer-facing work together. The service team should share every information with the sales and marketing team. This can help the sales/marketing teams extend the right product, work towards enhancing their experience and nurture the customers better. Collaborative CRM is an excellent example of this aspect. You will be able to share the information across departments with ease. At the same time, you will be assured that the information is available in the simplest form possible.› Examples of Collaborative CRM
- Monday.com: monday.com CRM software helps businesses with real-time communication and improves data storage abilities. It provides all the tools to share information and improve the connection between the different departments.
- Sage CRM: With this CRM, you can ensure that there is no data duplication and that all numbers are available in a single view. You can access the insights, too, for the data made available.
› Use Cases
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- Better Customer Service
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- Upselling