Are you like the rest of small business owners out there? You know, those who are still new to CRM or Customer Relationship Management Tools? The sheer number of CRM software out in the market is overwhelming for anybody, right? There are different types of CRM software that you can encounter in the market, and this article will try to help you get familiar with each one. This way, you’re able to make an informed choice about which CRM software is for you.
The Two Division
Customer Relationship Management tools can be divided into two main categories: use and its system. What’s the difference between the two, well for one CRM types according to use discuss how the CRM software is used by the companies. CRM type according to the system, on the other hand, classifies CRM tools according to what type of system it runs on.
Types of CRM According To Use
1. Operational CRM
Operational CRM software is the most common type of CRM tool you can find in the market. It’s a CRM tool that deals with three main activities of your businesses namely: marketing, sales and service. Hence the name operations, because it deals with the day-to-day operational aspect of your business.
It utilises a customer-centric approach and makes your lead acquisition easier by automating the three main business operations mentioned earlier. This means that your CRM automates your marketing, your sales and your customer service.
Automating your Marketing – this feature of operational CRM allows you to use the sales funnel and to do customised interactions with your prospects. Examples of such customised interactions are creating email campaigns as soon as a new customer subscribes to your website or if a new prospect enters your system. The main purpose of marketing automation is to find out the best method to get your leads to buy your product.
Automating your Sales – this mainly focuses on managing your customer pipeline, getting your more leads and nurturing these leads. In simpler terms, it automates all your sales activities and helps you get customer information on who he or she is, what did he or she purchase, when did the purchase occur, how much was spent. All this help your business identify your clientele’s needs and wants.
Automating your Service – this feature of makes it easier to hear out customer concerns and problems. It links your business to different communication platform from emails, SMS to mobile phones and recently help chats on social media sites where you created a page. This makes your customer service better because you can quickly respond to your customers.
2. Analytical CRM
Analytical CRM is CRM tools used to gather and analyse your customer data. These customer data are taken from different sites and mediums like your company’s Twitter, Instagram, Facebook, Linkedin, Pinterest, and other communication platforms. Even emails and SMS between you and your customers can be used for data analysis.
The data analysed can be used for product researches, customer-service improvement and even new business ventures for your company. Other forms of data collection you can use are surveys, interviews, and polls. These data will be beneficial especially if you’re aiming for customer need centered products.
Furthermore, the data collected can be rearranged and correlated to solve small product or service problems that your customers are complaining about. You can also identify the problems that your customers failed to notice. Aside from identifying issues and concerns, an Analytical CRM also helps you target new markets and new customers. And it also enables you to implement new marketing and sales strategies.
3. Collaborative CRM
Collaborative CRM as the name suggests is a CRM built for collaboration between different departments in your business. It can also be used to link your business to other companies that you’re in partnership with. Since marketing automation is now prevalent in Singapore; it’s impossible to see a budding business big or small in Singapore that’s not going digital. So, building connections with other companies is an excellent way to upgrade your business.
Collaborative CRM also makes communication between your departments quicker and easier. Using one platform and one database they can access customer information and address concerns, complaints and faulty product or service faster. This type of CRM also makes easier to do product redesigns and product improvements because you’re all on the same page, looking at the same data and not multiple software in different locations.
Types of Customer Relationship Management Software by System
1. Desktop CRM systems
Desktop CRM Systems
These CRM systems are the software types that you install on one computer. The data from your customer such as name, purchases, purchase history. All of these data will be in the convenience of your personal or company computer. You can access it anytime, and you won’t have to worry about losing internet connection or servers having problems.
The downside of this type of CRM is if your desktop gets corrupted with a malicious file or a virus, you could end up losing all your data. So, it’s important to have a back-up. Back-up all your files that way when the scenario above happens your business won’t have a major crisis. Another thing that you need to be cautious of is the need for your own protection system, in case hackers decide to hack your system and steal important customer information like credit card numbers and bank accounts.
2. Server CRM systems
Server CRM Systems
CRM systems which make use of this system have a core server that stores all data that you need. The company you bought it from manages it, and it is only accessible through a PC or laptop where you had the software installed. It’s stored in a centralised database within the server which you can access anytime. The server providers are responsible for maintenance and data protection of the database which is a good thing.
The only downside of this system is if there is a server error or the computer where you installed the software encounters a problem you’d be inconvenienced by their server maintenance work.
3. Cloud-based CRM systems
Cloud-based CRM System
Of the different types of CRM according to the system, cloud-based CRM is the most flexible. This type of CRM is under the supervision and hosting of third party sites who are also the same people who supplied the CRM software. CRM systems that are cloud-based are accessible anywhere through a connected device. The third-party hosts are responsible for the maintenance, update and data protection. Similar to server-based CRM, cloud-based have a centralised database that can store massive amounts of data.
CRM integration to your social media sites and also your company is easier with this type of system as well since it’s located in the vast world of the internet. There are many open source CRM and online CRM that uses cloud-based systems as their platforms.
Final Thoughts
No matter what type of CRM Singapore software you use, it’s important to keep in mind the software’s relevance to your company. Does your CRM system solve your company needs and problems? Making a hasty decision to pick a CRM software in Singapore because it’s what the majority of people in your country uses is not good, especially if it doesn’t add any good benefits to your business. Remember, your CRM software is an investment, and no investment is made without weighing your benefits and your risks. Don’t have a CRM software yet? Contact us! We’ll be glad to walk you through the benefits of using Infusionsoft CRM and how it can help your business.
