Customer relationship management, or CRM, is a strategy and technology combination used to engage, establish, evaluate, and maintain relationships with current and potential customers. It also takes care of sales and contact management and ensures a smooth workflow process, increased productivity, and more.
CRM Software’s primary goal is to provide a constant and smooth Consumer EXPERIENCE.
Advantages of CUSTOMER RELATIONSHIP MANAGEMENT
Better relationships = higher customer satisfaction
Your customer is an asset to any organization, and that’s why it is essential to maintain a healthy relationship with them. CRM aids you in maintaining exceptional customer connections by treating each one as an individual, not neglecting them, and staying available to them when in need.
Increase in Sales
All of your consumer services, such as chatbox, social media, and email assistance, can be accessed from one location with CRM. Customer happiness and retention directly lead to an increased in sales. Happy, long-term customers equal more money.
Customer retention advantage
CRM is an excellent tool to keep your current clients happy. It also assists you in orchestrating your marketing operations, such as sending email campaigns, free trial offers, or post-purchase customer surveys – all at the right moment!
More Clarity in Organization
By assigning tasks, exhibiting work, and defining exactly who is who and who is doing what, CRM allows you to encourage greater transparency in your business. It also increases efficiency in work by smooth management.
Better and faster communication
Professionalism is demonstrated by not making your customers wait and promptly responding to their needs. CRM allows you to customize your conversation and deliver responses offering rapid answers to recurring problems by having all contact history at your fingertips.
TYPES OF CRM SYSTEMS
Cloud computing, often known as Software as a Service, is used in this sort of CRM (SaaS). The data is collected and kept in this system on a separate, external network that employees can access via an internet connection or, in some cases, through third-party service providers. Vendors usually charge users on a subscription basis, with monthly or yearly fees available. Sales force, Hub Spot, and Zen desk are three popular cloud-based CRM providers.
The CRM software is responsible for administering, controlling, security, and maintaining the database and information in this system. The programme is hosted on the company’s servers, and all upgrades are paid for by the user. Therefore, an on-premises deployment may be advantageous for businesses with sophisticated CRM requirements. In addition, many cloud-based CRM companies, such as Sales force and Work Wise, also provide on-premises CRM software.
OPEN SOURCE CRM
An open-source CRM system makes the source code available to the public, allowing businesses to make changes at no cost to themselves. For example, companies seeking to improve their social CRM practices might use open source CRM solutions to add and customize data linkages on social media channels. OroCRM, Bitrix24, SuiteCRM, and SugarCRM are examples of open-source CRM solutions.