CRM`s final aim is to help a company make new business relationships and strengthen the existing ones, and it executes this by compiling and analyzing information gathered from the number of different channels such as emails, company's website, social media, phone conversations, live chat or any other points of interaction between the customers and the company.
In everyday business communication, customer relationship management most commonly refers to a CRM system, software that is used to consolidate the aforementioned data and unify it into a single centralized database. The system is also used for recording different interactions with clients, as well as for automating various administrative tasks and enabling the business owner or any supervisor to keep track of the employees’ performance.
Types of Customer Relationship Management Software
After describing what CRM is and what it can do, it might be worth mentioning that CRM systems are typically divided into three types depending on their functions: analytical, collaborative and operational. While most systems do include all three capabilities, usually one or two are their focus points, which is why you have to carefully define what functions you need before actually buying any software.
The primary aim of a good analytical customer relationship management tool is to aggregate a vast amount of information gathered from various sources, combine and analyze the gathered data that can help you plan the most effective strategies and campaigns accordingly.
This type of CRM is the strongest in advancing teamwork and clarity between marketing, service and sales by distributing client data and syncing their actions. It is also characterized by great communication tools, information sharing capabilities and track of activities.
The main purpose of this CRM is to automate and streamline the workflow in customer service, sales and marketing. Systems that have good operational functions usually feature contact management, lead management, as well as sales pipeline and help desk management.
One of the most important functions of CRM software is contact management. Its goal is to enable companies to handle the processes related to managing customer and company profiles with accuracy and efficiency. In other words, this feature helps you gather, store and process client data with ease.
CRM gathers and combines streams of information in the ways that make it easy for the users to view various statistics in a visual and engaging way. This enables you to have a clear perspective on the current behavioral patterns of your customers and trends on the market. Often CRM tools even have real-time data projections, which make reports even more precise.
Usually client relationship software is used by different employees from different departments of a company. CRM system allows every employee or group of employees to have a unique role in the system, and managers can easily set access rights for every system role.
This is the most popular function among many users. Lead scoring and management allow you to score your prospects based on their likeliness to buy something or use a certain service. It provides your staff with the opportunity to work with only sales-ready leads, identify the most effective lead generation channels and analyze conversion rate on every stage.
Client relationship management software can also keep track of various interactions a customer has with the company through any medium, be it the company`s website, email or a phone call. Tracked activities are then stored and listed in chronological order on your client`s profile.
As the name itself says, this feature helps you manage and oversee your campaigns from the campaign designer to the campaign completion. It will also automate workflow and enable marketing agents to reach target audiences in a more efficient way. In the end, it gives you a clear overview of the success of your campaign measured by user-defined parameters.
Of course, the vast information accumulated by your CRM would not be particularly useful if it was not properly processed, and this is where data segmentation comes in. Data segmentation enables the users to divide and organize groups of customers based on various characteristics including age, sex, geographical location, etc. Data segmentation can help you develop personalized approaches for each segment of your database.
In the world of business, time equals money, and unfortunately, a tragic amount of time usually gets wasted on tedious and repetitive tasks. Once again, CRM software is here to save the day. Using automation tools allows you to save a lot of time by automating many repetitive tasks, which will strengthen your efforts and lead to better performance.
CRM software can help you analyze data based on various parameters within the required timeframe. It will give you a perfect ability to identify the gaps in your strategy and find the most appropriate solution on how to improve it. Leading CRM vendors provide the ability to visualize the data, which makes data analysis even more convenient and effective.
Why CRM is important
As you have probably concluded by now, CRM software is a powerful tool, which can completely transform the way your company operates. The business environment is turbulent and competitive these days, and the most powerful tool to help you survive in this environment is information.
CRM helps gather, organize and analyze data in a way that was not possible before. With this data, you can enhance your client relationships, increase revenue, enhance communication and strategies, and much more. If you want your business to survive the test of time, you will need a well-defined strategy to keep your business growing and expanding.
Boost your marketing, sales and service performance with bpm’online!
Who can benefit from Customer Relationship Management?
Virtually any type of business can benefit from CRM software because it improves management of interactions and relations that help the business move forward and achieve success. If you want to improve efficiency, need help with marketing, sales or service, or simply want to show your customers more attention, CRM software is what you need.
The most important factor when deciding which CRM to buy is to define what you need it for and what your goals are. If you are uncertain about where to start, companies like bpm`online offer amazing solutions with great all-around features that are good for practically any type of business. They even offer the 14-day free trial period, just to show how many benefits it can bring to your business.
Why wait? Start today!
If you are having a hard time organizing your business, CRM guarantees to help you get back on track with the many amazing possibilities it has to offer. Stop wasting time on spreadsheets and tedious tasks and propel your business into the future with the help of CRM solution. Your employees and customers will thank you for it, and your business will thank you for making such a good decision and implementing CRM software.
Bpm’online was named a Leader in The Forrester Wave™:
CRM Suites for Midsize Organizations, 2016.
In addition, bpm’online has been recognized as a Strong Performer
in The Forrester Wave™: Sales Force Automation Solutions, 2017,
The Forrester Wave™: Lead-To-Revenue Management Platform Vendors, 2016;
The Forrester Wave™: Customer Service Solutions For Midsize Teams, 2017
and The Forrester Wave™: Dynamic Case Management, Q1 2018.
Bpm’online has been named a Challenger in the Gartner Magic Quadrant for Sales Force Automation, 2018, 2017, 2016 and the Gartner Magic Quadrant for CRM Lead Management, 2017, 2016; recognized in the Gartner Magic Quadrant for the CRM Customer Engagement Center, 2018, 2017, 2016, 2015, included into the Gartner Magic Quadrant for Intelligent Business Process Management Suites, 2017 and Gartner Magic Quadrant for Enterprise High-Productivity Application Platform as a Service, 2018.
Nucleus Research consecutively positioned bpm’online in the Leaders Quadrant of the Nucleus CRM Technology Value Matrix 1H 2018 for its unprecedented agility to modify processes on the fly.
Ovum, one of the leading global technology research and advisory firms worldwide, has Bpm’online named among the world’s top 10 CRM vendors in latest Ovum CRM Decision Matrix. Bpm’online has been recognized for its process-centric approach and intuitive platform.
CRM Magazine, the leading publication of the industry, recognized bpm'online as a Leader in the Midmarket CRM Suite and Sales Force Automation categories, as well as named the One to Watch in the Enterprise CRM Suite in the CRM Market Awards 2018. This is the fourth year in a row that bpm'online made it onto the leaderboard in the Midmarket CRM Suite category, with superb scores all around.
bpm’online has been honored as Gold Stevie® Award Winner for the Best Relationship Management Solution of the Year in the 11th Annual International Business Awards. Winners were selected from over 3,500 nominations.
In 2015 for the second time in a row bpm’online is selected as ISM Top 15 CRM Award winner by, ISM Inc., Customer-Centric Strategic Advisors. The company is positioned as a leader in the fast-paced CRM industry.
Bpm’online received a 2015 CRN® Enterprise App Award for its bpm’online mobile CRM application. Bpm’online’s mobile app was selected by a CRN editorial panel based on a combination of critical factors including functionality; suitability to task; ease of use; innovation; and potential value to solution providers, their customers and the market in general.
Bpm’online has been named as Leader in CRM Software and Business Process Management Grid® Reports by G2 Crowd, Summer 2018.
Bpm’online has been recognized as a winner in the CRM Watchlist 2019 award