Markets have become highly competitive and the brands that are going to survive the market revolution are those that have what it takes to adapt. Adaptation in this sense refers to developing the skills, strategies, and resources to play the marketing game the way it has quickly evolved to be. Any brand that doesn’t fall in line will be left out of the race in this modern world.
As a brand, you should understand that marketing has evolved from simply selling to customers to engaging and keeping your customers within reach. This entails collecting data on your audience’s interaction with your business and using them to your advantage. Customer Relationship Management (CRM) helps you to communicate with your customers properly and generate leads for your business.
CRM is a software that helps you to keep your customers in one place. With CRM, you can have various information on your customers and leads. It helps you to understand the behavior and interests of your audience to enable you to make necessary decisions that would help your brand. With this software, you will build a lasting relationship between you and your audience which helps you breed loyal customers. There are three main types of Customer Relationship Management, which we have brought to you.
- Operational CRM:
Operational CRM refers to the processes that focus on sales automation, marketing automation, and service automation. The major purpose this CRM serves is to generate leads, convert those leads to contacts, and then record all the details required in providing services to the customers. Under operational CRM, Sales Automation refers to all the processes concerned with dealing with your customers and acquiring new ones.
Marketing Automation refers to processes involved in approaching your potential customers and using campaigns to convert them to customers. Lastly, Service Automation helps you retain your customers by offering high-quality services and building a strong relationship with them.
- Analytical CRM:
Analytical CRM relies on data analysis in helping you determine the best ways to serve and reach your customers. This CRM analyses data on your audience through the various touchpoints of your brand. This data could be used to generate insights for improving the quality of your brand and acquiring leads and customers.
Analytical CRM gathers data on customers including their sources. You could make use of it to decide campaigns and strategies for reaching out to your audience. This is made easier due to the insights you have gotten on your customers’ behavior and interests.
- Collaborative CRM:
This type of CRM is sometimes referred to as Strategic CRM. This type of CRM allows you to share information on customers with the various organs or departments in an organization. for example, the sales team could share analytics on the sales of your new product with the marketing team through collaborative CRM. This promotes the strategic flow of information through an organization.
Collaborative CRM helps you review feedbacks from customers provided by a particular team to determine the behavior of your customers towards your brand. It unites various groups to achieve a centralized goal, from increasing sales or acquiring customers.
These three types of CRM are all important and necessary for your brand. You need to generate leads and customers. You equally need to analyze data on your customers as well as collaborate with the different groups to make strategic centralized decisions.