Types of CRM- Which One to Choose

Every business deals with different sets of challenges. These include scattered customer data, lengthy work processes, inability to record in-depth customer information, and so forth. A CRM software is capable of resolving majority of the issues businesses face, and thus, choosing the right CRM for your business becomes crucial.

Defining CRM software

The main idea of a Customer Relationship Management(CRM) tool is to centralize holistic customer information and improve business relationships. It provides robust features that facilitate businesses to streamline their sales, marketing, and customer service workflows.

As the name suggests, a CRM tool also assists in making better customer relationships. This can be done by recording 360-degree customer information like sales conversations, purchase history, demographic details, etc. It will help you in creating tailored experiences for each individual based on the information available. Therefore, your business will be able to provide delightful experiences without fail.

Key features:

Lead Management
Sales Forecasting
Marketing Campaigns
Customer Support
Third-party integrations

3 types of CRM software

Businesses can invest in different types of CRM systems that best match their business needs. You can only grow in the competitive market when you streamline your work process and deliver superior customer experiences. For that, you should understand different types of CRM and what they offer best.

Operational CRM

This type of CRM offers automation features so that you can get rid of mundane or day-to-day activities. Mundane tasks can include organizing new and existing leads, triggering email campaigns to your customers, responding to customer inquiries, etc. In short, operational CRM facilitates sales automation, marketing automation, and customer service automation which allows you to shift your focus on high-level activities in the organization.

It is designed to smoothen operational processes and transactions between a business and its prospects. An advanced operational CRM provides you with various tools and features to enhance customer-related activities and improve the overall customer satisfaction level.

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Collaborative CRM

With collaborative CRM, you can share customer information across the team and everyone can stay updated on the latest information. For teams that are dispersed across different locations, collaborative CRM can offer innumerable benefits. It can ensure sales, marketing, and customer support teams are on the same page while sharing knowledge with customers.

A collaborative CRM helps various teams to collaborate effectively and provide better service to customers. With improved customer service, you can aim to generate higher revenue for your business and attain customer retention in the long run.

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Analytical CRM

Team managers or top-level executives in the organization can make use of analytical CRM to analyze customer data. It helps in making data-driven decisions and leads businesses in the right direction. Using analytical CRM, you can track different patterns and trends in the customer data to improve marketing strategies, customer service and optimize business operations.

You can gather customer information from multiple sources like social media, online surveys, etc., and analyze customer behavior, segment customers based on different factors, forecast sales revenue, and more.

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Best CRM type for your business

To choose the best CRM type for your business, you should thoroughly know your organization’s needs and demands. Without a good understanding, you will face great challenges which will directly impact your team’s productivity, business growth, and revenue.

Adopt an operational CRM If you want to automate your repetitive business activities.

Operational CRM allows you to:

  • Set up an automated workflow to trigger an email campaign, schedule recurring meetings with a client, etc.
  • Organize and manage leads right from the point of interaction to closing a deal. Automate lead assignment, lead scoring and nurturing seamlessly.
  • Set up real-time alerts or notifications and remind your team about a certain event or action to be taken at the right time.
  • Create and schedule social media posts and boost your social activities.

Adopt a collaborative CRM if you are looking to break departmental silos intelligently.

Collaborative CRM allows you to:

  • Centralize customer data and give access to everyone in your organization. It can reduce cross-team dependency and all the team can have access to the latest information by updating them in real-time.
  • Track all communications between customers and prospects like emails, phone calls, meetings, etc, and ensure a comprehensive view of customer interactions.
  • Upload and share documents with your team members. Make edits and receive feedback, thus streamlining document management.
  • Create and assign tasks to your team and track the progress to enable collaboration among teammates.

Adopt an analytical CRM if your main focus is to drill down large quantities of data and gain customer insights.

Analytical CRM allows you to:

  • Track various campaigns and understand from which source leads are generated mostly. Sources can include web forms, social media, emails, etc.
  • Monitor the time taken to close a deal and what kind of action triggers a purchase.
  • Understand frequently asked questions by customers and the maximum time to resolve an issue by support agents.
  • Gauge team performance and provide constructive feedback to improve efficiency and productivity.

What type of CRM is Vtiger CRM?

Vtiger CRM supports all three types of CRM categories, i.e., operational, collaborative, and analytical CRM to deliver enriching customer experiences. However, instead of spending a dime on different CRMS for specific activities, how about an all-in-one CRM?

What is Vtiger All-in-One CRM?

Vtiger One is an All-in-One CRM that empowers sales, marketing, and customer support to access all the features of three different CRM types on a single platform. Not just that, it also provides a unified customer view of all the interactions and transactions made between businesses and prospects.

This way businesses can minimize the use of multiple applications or software and stay on a single tab to execute their tasks effectively.

Vtiger One provides:

A 360-degree customer view to make business decisions.

Deal Room, and Deal Journey for deal management and increase sales.

Centralized communication to improve collaboration. Chat, send emails, and make a call from one place. Record conversations for further communication.

Automated lead capture option from multiple sources such as social media, web forms, and more.

Campaign tracker to monitor campaign performances and analyze profitability.

A single platform to collect cases from email, social media, phone, etc.

Customized dashboards to get sales, marketing, and customer support metrics.

Get started with Vtiger One today!

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