CRM stands for customer relationship management software. It’s a software designed to attract and retain customers in business.
About CRM software and their role in small businesses
There are many different CRM software available in the market. CRM is indispensable to all businesses including small businesses. If you are a small business owner, you can use any one of the many free CRM software available in the market. If you do your research, you should be able to find a relatively inexpensive but quality CRM software right at your fingertips. It is recommended that all small businesses use some sort of way to keep track and organize their customers. This would prove immensely useful to the firms both in the short and long run. Authoritative statistics demonstrate that leveraging this modern innovation has contributed to significant consumer service as well as growth.
There are 5 different types of CRM software which include the following:
Analytical CRM software
This CRM analyses current customer trends and does forecasting of future trends.
Collaborative CRM software
This CRM allows users to share and exchange customer data across any geographical location.
Social CRM software
This CRM integrates with social media sites such as Twitter, LinkedIn and Facebook to maximize customer base and provide top notch customer service.
Operational CRM software
This CRM is predominantly used in Sales Force Automation.
Marketing CRM software
This CRM employs surveys to fashion appropriate response.
Benefits of using CRM
- Automates customer interaction
- Lowers costs in terms of manpower
- Saves time
- Leverages the latest technology
- Can be used on multiple electronic devices
- Organizes and gives efficient and effective access to customer data
- Can be used by multiple users
- Effective tracking of customers and implementing superior customer services
- Helps give an edge over competitors not using this technology
- Gives access to important customer data such as price wanted, product and service preferences and personal data
- Ability to send messages and timely reminders such as payment reminders and anniversary greetings from the small business
- Business intelligence helps predict future customer growth and appropriate strategy
- Customer data is encrypted thus preventing unauthorized access and company secrecy as well as privacy