11 Aug The Different Types of CRM that Businesses Must Know of
CRM or Customer Relationship Management is the process of integrating different strategies and technologies to track and manage customers and their details by an organization. There is fierce competition everywhere, and organizations work relentlessly to run each other down for their profits. And that is why, it is essential that businesses, no matter what their scale is, use strategies and methods to function seamlessly. And CRM happens to be one of those techniques. Speaking of CRM, there are different kinds. And all these different kinds have their own functions. An awareness of these kinds of CRM can help organizations to make better decisions about their customers and foster healthier relationships with them. Therefore, without any further ado, let us move on to looking at these types of CRM and where they can be implemented.
This kind of CRM requires the technology to maintain, control and oversee the company’s details that are available on the company’s servers. With this kind of software, the company does not require to purchase the license from a cloud CRM provider. There are no purchases of yearly licenses that need to be made. This type of CRM finds its utility in companies that have quite a complex structure and dynamics, and also serves as a great option if organizations do not want to spend much on software. Since there are no yearly subscriptions involved, the costs involved are quite less.
We have already mentioned a bit about cloud-based CRM in the previous point, and thus, we shall be taking it up from there. Unlike the On-Premises CRM, where the data is stored on the company’s server, in this kind of CRM, the data can be accessible by employees from an external network. In other words, there is a third-party involved in the entire process of data storage and the accessibility of the same. Plus, if you must know, this kind of CRM is costlier than the others since organizations need to pay a yearly subscription to enjoy the services and therefore, might not be a great idea if they are looking to cut costs.
Finally, Open-Source CRM:
An Open-Source CRM, as the name suggests, is open to all and devised for public accessibility. The code is available for the public to access for their benefit. And companies can leverage this system to use the data or make alterations without having to spend their money for the use. Open-Source CRM helps in the customization of data and helps companies to improve their social media connectivity and also improve their social media CRM practices.
An understanding of the different kinds of CRM can assist companies in making better decisions about their customer management practices and scaling their businesses using the technology to new heights.