What is CRM Software?

Satisfied customers form the crux of a successful business. If your firm or organization has a long list of satisfied patrons, no one can really stop you from touching astounding heights. 

Now, before you start counting your happy customers, have you ever thought how to retain or in fact increase this count? It can be done with quality services, competitive pricing and healthy relations with customers. 

While you take care of the first two, the third option can be taken care of by Customer Relationship Management - CRM software available in the global market.

An Introduction to CRM Software

Before talking about CRM software, let’s define what CRM is. CRM or Customer Relationship Management is a model for managing a company’s interactions with current and future customers.

Thus, CRM software is a technology which allows organizations to carry out interactions with existing as well as prospective customers in an organized and effective manner. 

Though installing a single CRM software solution, one can easily organize, automate and synchronize sales, marketing, customer service and technical support.

Why do you need CRM software?

According to a recent survey conducted by Gartner, customer relationship management software will be the apex for additional spending on enterprise applications, followed by ERP and office suites. 

Other possible reasons why one might need online CRM software are mentioned below.

Foresee Customer Needs

CRM software solutions include detailed data about customers, which can be analyzed to figure out the needs of existing/prospective customers.  

Recording Customer Details

One of the key reasons for using CRM solution is to record even the atomic details about customers in a hassle free manner. 

When you buy a CRM solution for your business, you can experience how easy it is to store and retrieve data about your valuable customers whenever required. 

Acquiring New Customers

Apart from helping businesses in maintaining healthy relations with existing patrons, CRM software plays a pivotal role in acquiring new customers.

Using customer relationship management software, you first identify a customer (who can be valuable for the growth of your business) and then maintain his details in a suitable column of the software. 

In corporate terminology, it is often referred to as “Opportunity of Business.” Further, sales representatives work upon the filled in information to convert it into a winning deal.  

Cost-effective

In comparison to features and functionalities offered by a CRM solution, its cost is very nominal. 

Integrating such an application in your business process, you can cut down on manual resources remarkably. 

Accessible to All

To ensure effective communication amongst all employees in the company, CRM systems are kept centralized.

Due to centralization, all associated professionals can access customer details and work together towards achieving organizations’ goals in real time.

Reduced Processing Time

In today’s age of cut-throat competition, turnaround time plays a key role in keeping customers contented and satisfied. 

Since the entire system is automated, you can retrieve chunks of information in just a few seconds. As a result, the time required to process queries is reduced manifold times.

Types of CRM Software

By now you must have got an idea why a business should invest in a customer relation management solution.

But, before you buy just any CRM solution, it would be wise to acquaint yourself with different types of solutions available in the software industry.

While purchasing CRM software systems, people usually run after big brands. Well, this is certainly not the right approach and your decision should be based on firm groundwork.

To ease things a bit for you, here are mentioned three broad categories in which CRM software applications are categorized.

Windows CRM Software

As suggested by the name, this type of software are actually Windows application that need to be installed on every representative’s system. 

Another challenge involved is to update the application on every system in accordance to the central server and database. 

Web CRM Software

Overcoming most of the challenges posed by Windows CRM software, Web CRM software is used widely across industries.

In this type of application, you are just required to pay a nominal monthly subscription fees instead of hefty license fees. Further, the IT cost is reduced as it can be accessed on almost any web browser.

Further, updates are installed automatically without hampering the flow of work and its users. Lastly, web-based CRM software features user-friendly GUI and thus it is easy to work and learn. 

Cloud CRM Software

The latest in the category is Cloud CRM Software. Deriving its roots from web-based CRM architecture, it offers all those benefits users avail with Web CRM applications.

Along with that, it offers flexibility in terms of usability and compatibility.

Today, the market is flooded with CRM solutions like SugarCRM,Salesforce.com and ZOHO for small, medium-sized businesses and large organizations too. As a business, it is vital to analyze all the aspects; read reviews and choose the best software CRM software for your business.

How to Select CRM Software

Selecting a CRM solution for your business is certainly a daunting task. A feature that is important for you might take the last position in the priority list of another organization.

To put it in another way, the needs and requirements of every business is different and thus you must make the choice wisely. Some of the factors that should be kept in mind which comparing different CRM solutions are:

Scope of Customization

Since different businesses have different requirements, a good application will always provide the facility for customizing settings. Higher the level of customization, better are the results. 

Data Import

The main purpose of employing CRM software is to store, retrieve and analyze data. So, the solution you choose should aid in convenient and effective data import.

Additional Features

If you compare different types of CRM software available in the market, you can see some standard features offered by all. 

While making the final choice, you should always go with the one that offers additional features at the same price.

Pricing

Lastly, compare the subscription fees of these software before striking the final deal. 

Through this article, we endeavored to compile information that might be useful for businesses looking forward to buy CRM software. 

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