CRM

CRM stands for Customer Relationship Management. It is a business strategy that focuses on building and maintaining profitable customer relationships. CRM systems are software tools that help businesses manage customer interactions and data. CRM systems can be cloud-based, or on-premise platforms.

CRM systems can be used for a variety of tasks, including:

  • Contact management: Storing and organizing contact information for customers and potential customers.
  • Lead management: Tracking and managing leads through the sales pipeline.
  • Sales management: Forecasting sales, tracking opportunities, and managing customer accounts.
  • Customer service management: Providing customer support and managing customer complaints.
  • Marketing automation: Automating marketing tasks, such as sending email campaigns and tracking website traffic.
  • Customer Service and Support: CRM systems enable businesses to provide efficient customer service and support. They allow businesses to track customer inquiries, manage support tickets, and provide timely responses to customer issues.

Different CRM systems.

Overall, there are three different types of CRMs:

Operational CRM

CRM tracks customer interactions and improves customer acquisition and retention. The software helps you store customer information, deals, and leads in the platform.

Analytical CRM

An analytical CRM system analyzes the sales data gathered by operational CRM apps. It tracks various performance metrics to offer insights.

Collaborative CRM

CRM provides a place for teams to work together. The CRM enables messaging, and sharing information across different departments.

Most modern CRM systems include analytical, operational, and collaborative features.

Some of the most popular CRM systems:

Choosing the right CRM system for your company can be daunting. Which CRM is right for your business depends on your budget, the size of the company, and the desired functionality; luckily, research firms like G2.com help business leaders make software decisions. G2 is one of the largest business software review websites. G2 encourages LinkedIn users to review software platforms. The cumulative score is added to a grid. Below, you will find the grid for CRM systems. According to the G2 reviews, Salesforce is the most popular CRM platform, followed by Hubspot.