CRM refers to the process of maintaining valuable relationships with customers. A CRM platform helps a company to be in touch with the customers, manage efficient processes, and be lucrative at the same time. CRM is not just an interaction between consumer and supplier, but when a businessperson uses the term CRM, he might refer to any of the three relationships ─ CRM as a plan/strategy, CRM as a technology, or CRM as a process. It is not just a relationship with the consumer; it is also a relationship with your employees and suppliers too.
How do different departments benefit from CRM?
Customer Relationship Management (CRM) is not just a tool for human resources or customer support to maintain a healthy consumer-firm relationship, but every other department can benefit from it.
CRM and the marketing team
Your firm’s marketing team can plan out the whole information available from the sales team and deliver it in a better form to the customers. This will not only help you attract more customers, but your current customers will become more loyal to you.
The benefits to the sales team:
With CRM, sales managers can assess their subordinates efficiently. It will be easier to check if the targets are being met or not. Ultimately, the decision will be more accurate and quick.
Customer support team and CRM:
CRM refers to maintaining healthy customer relationships and of the customer support team is best with CRM. Obviously the company will become more profitable than the expectations.
CRM benefits Human Resources, too:
Human resource managers are responsible for hiring and elimination of employees. Hiring is not as easy as it seems to be. An HR manager needs a lot of time to question every applicant and choose the very best for the firm. With CRM, hiring becomes easier and quicker, making the firm efficient and earning a competitive edge.
Supply chain department and CRM:
Meetings with suppliers and shareholders can be set at a faster rate, and efficient processes and deals can be made with CRM.
Now you know how CRM can benefit every department of a firm and become the reason for the increased productivity of your company. CRM is a now available as an online development tool too. Being a strategy, advancements have led to the division of CRM into three types:
Operational CRM:
This is mainly adopted by operational departments like sales and marketing. It helps you keep track of the records of all the sales you have made or all the customers you have attracted.
Analytical CRM:
It helps you analyze the market and economic trends. If you are losing the market share, CRM will help you increase it. The basic motive of analytical CRM is to satisfy customers at best possible level.
Collaborative CRM:
Companies have come up with another strategy to boost themselves. This is the collaborative CRM where some companies share a certain amount of customers’ data with outside companies. This gives businesses a chance to build better customer experience.
