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Types of CRM
CRM in customer contact centers
CRM systems are basically relationship management channel. The primary objective of CRM systems is to track, record, and create databases to increase customer satisfaction. CRM assists in creating effective communication between an organization and its customers so as to increase profit margins improve customer relations, etc. CRM utilizes techniques such as Key Performance Indicators to bring attention to the venues where marketing and customer service should be focused to increase revenue as well eradicate unproductive business processes. The CRM software is installed in the contact centers, and help direct customers to the right agent or to self help sections.
CRM in Business-to-Business (B2B) market
It is imperative that businesses interact with each other via the World Wide Web. According to a Sweeney Group definition, CRM is “all the tools, technologies and procedures to manage, improve, or facilitate sales, support and related interactions with customers, prospects, and business partners throughout the enterprise”.
CRM is not restricted to customer-centric businesses but can also be applied to B2B environment. B2b organizations will benefit from increased effectiveness, streamlining of operations along with improved customer management conditions. There are several differences between B2C and B2B CRM systems. Some of the notable differences include difference in software, volume of sales, degree of automation required, etc.
SaaS CRM Software
Often referred to as “on-demand” software, SaaS based software is delivered via the Internet and does not require installation on the computer. The software can be accessed via the web browser. Businesses using the software do not purchase the software, but typically pay a recurring subscription fee to the software vendor.
Small business
Typically for small business, a contact manager system maybe used which incorporates emails, documents, jobs, faxes, and scheduling for individual accounts. CRM systems available for specific markets (legal, finance) frequently focus on event management and relationship tracking as opposed to financial return on investment (ROI).
Social media
CRM has frequently utilized the social media such as social media sites like Twitter, LinkedIn and Facebook to enhance customer relations as well gather real time information on customer’s opinions, feedback, preferences, etc. Enterprise Feedback Management software platforms such as Confirmit, Medallia, and Satmetrix make use of the firm’s internal survey data with information gathered from social media to allow business to make important strategic decisions.
Non-profit and membership-based
CRM system enables non-profit and also membership-based organizations to accurately keep track of funds, current and potential sponsors, membership data, etc.
Customer-centric relationship management (CCRM)
CCRM is a type of customer relationship management that pays attention to customer preferences instead of customer leverage. This is an emerging area of CRM and makes allowances for the changes in communication technology.
A Customer centric organization assists customers in making an informed decision and involves the customers in a personalized and interactive way. Some of the benefits of CCRM include personalized marketing, customer retention, creating brand loyalty, etc.
