What is a CRM?

In an increasingly digital and connected environment, companies that want to remain competitive have to ensure that they properly manage relationships with their customers. To facilitate this task, there are CRMs, a technology that can improve marketing ROI by 43% and increase sales revenue and customer satisfaction by 37%, according to Salesforce data. Its importance is such that in our master in Marketing, we address the management of CRM tools so that you can lead the digital transformation process of any company or launch your own start up.

What does CRM stand for?

CRM stands for Customer Relationship Management. It is a technology that facilitates the management of the sales, marketing and customer service areas, keeping a record of all contact points and interactions with leads, users and customers.

In fact, more advanced CRMs not only collect and track basic lead information but can also direct leads to the right sales reps or record their interactions with customer service or help desk teams to build a more complete profile.

What are the types of CRM?

Currently, there are different types of CRM, from those of open source to closed source programs. You can also find CRM in the cloud, which facilitate installation and maintenance in exchange for a monthly fee, as well as CRM on demand that involve the acquisition of a license to install the programs on company servers and equipment, giving the possibility to customise its features according to business needs.

Another classification of CRMs refers to the function they fulfil:

• Operational CRM: This software makes it possible to manage relationships with customers in a general way, which is why it usually provides information on the level of satisfaction with the care received and the company's products or services. It is usually used to design customer approach and treatment strategies at different stages of the sales cycle.
• Collaborative CRM: Through this software it is possible to follow up on clients in the different communication channels. It centralises all the interactions that leads and customers have with the service or sales area, so their information is used to improve the relationship with customers and detect the leads that are most likely to purchase the products or contract the services of the company.
• Analytical CRM: This software collects and analyses a large amount of data from past, present and future customers with a global approach to classify them into different groups, create profiles based on behaviours or identify preferences in the sales cycle. By detecting trends, it allows you to know exactly what customers are looking for and define what type of products or services are most interesting.

What can you use salesforce for?

In essence, a CRM provides a global and centralised platform to store customer and user information. Collect associations, records, and detailed reports to identify leads and track marketing, sales, and customer service actions.

In the area of marketing, for example, CRM provides a general overview of the target audience, allows you to focus campaigns on specific segments based on their profile or purchase history, as well as identify trends and patterns of audience behaviour to develop more effective strategies. and spot prospects.

In the sales area, CRM allows you to simplify and automate different business processes to boost sales and convert leads into customers. This software provides real-time customer information so sales reps can use it during interaction, monitors the sales cycle so they know if a lead is close to closing a deal, and allows custom promotions to be designed based on customer profiles. users.

In customer service, this technology helps the company stay in touch with its customers, automating the sending of emails to update them on product launches or promotions. By collecting customers' interests, preferences and purchase history, it helps companies tailor their services and build stronger customer relationships, which improves customer satisfaction and increases loyalty.

Remember that if you are interested in everything related to the latest methodologies and technological tools applied to the business world, you can also study our Bachelor's Degree in Marketing in Valencia.