What is CRM Software? Its Benefits & Best CRM System
CRM stands for Customer Relationship Management. The primary objective of a CRM system is to connect different departments like sales, marketing, services, etc. This provides users with the ease to adopt a data-driven approach for enhancing business operations. In the past few decades, technology has played a crucial role in renovating and transforming CRM systems. Now, you can get tailored CRM applications like CRM for Real Estate, and CRM software for small businesses. These are completely capable of identifying the needs of a particular industry and then act accordingly.
CRM software has proved itself a revolutionary technology in terms of improving the customer experience and interaction. From establishing a perfect harmony between various departments to real-time access to customer’s data, CRM comes on top in every aspect. The CRM system has enormous benefits for everyone irrespective of the size and scale of the company.
Key Benefits of CRM Software
As we mentioned earlier, CRM comprises tons of special features that can skyrocket the growth of a business. Not just only for existing customers but it can also anticipate the needs of potential customers in advance. Let’s have a look at some of the advantages of an effective CRM solution.
- Excellent Customer Service: One of the major functions of CRM is to record the history of customer interactions from various sources like social media, emails, etc. This vital information can later be used for providing the best possible solutions to the customers. Customer satisfaction plays a crucial role in the retention of customers in the long run.
- Hike in Sales Number: A lot of CRM platforms, especially Sales CRM, are designed for performing automated tasks, sales pipelines, sales data assessment. All these amazing functionalities will eventually assist in the sales growth of a company. CRM software provides an effective way of communicating with customers at the right time. From finding the right customers to retaining them. A study suggests that CRM can increase the lead conversion rate by as much as 30%.
- Increased Customer Retention Rate: A perfect CRM will allow users to improve the customer retention rate without jeopardizing existing relationships with customers. Transforming a new customer to a loyal customer is not an easy path to walk. But, CRM system is developed to perform these sorts of things. Nearly 47% of users believe that CRM systems have positively impacted their customer retention rate.
- Better Customer Interaction: With a CRM system integrated with other major software your business uses, it will become easier to access the information. You can find entire data in one place Instead of collecting it from various sources like emails, social media, chats, notes. Besides this, some CRM platforms also provide email templates, newsletters, proposals for personalized interaction with customers.
The Best and Most Used CRM Software
Below, we have mentioned some of the most used CRM software in the world. These are used by MSME (Medium Small and Micro Enterprises) as well as big reputed companies. If you’re intrigued with the benefits that your business can have then check out the details meticulously.
What is Salesforce? It is one of the most popular CRM software for a while now. You can have an idea about the popularity of Salesforce from its diversified user base. From small-medium sized businesses to huge Fortune 500 companies, everyone is somehow connected to the Salesforce Ecosystem.
Top firms like CEAT, Godrej, Edelweiss have joined their hands with Salesforce and witnessed great Return on Investment (ROI). Salesforce has developed products to fulfill the needs of Sales, Marketing, Commerce, and many other industries. They have also developed a smart AI-based CRM assistant called “Einstein” that can add a whole lot of value to your existing business.
After conquering the open-source CRM market for more than a decade, SugarCRM has now stepped into the vertical and cloud-based CRM software market. Currently, they have got a user base of more than 5 Million. Their vertical CRM solutions are Sugar Market, Sell, and Serve are perfectly industry oriented. Besides that, they also provide On-premises CRM and tailored CRM platforms for small businesses as well. In terms of SugarCRM pricing, all of their products are available in a very affordable range.
SuiteCRM is open-source and free CRM software. It is a software fork of SugarCRM Community Edition (CE). After the discontinuation of SugarCRM CE in 2014, SuiteCRM has been the leading open source CRM software in the world. With a humongous user base of more than 4.5 Million users. Their hosting CRM service SuiteCRM: OnDemand has been gaining quite popularity these days due to its unique per-user charging feature.
We can assure you that CRM (Customer Relationship Management) software can bring you deeper insights related to customer experience, interaction, lead generation, etc. These key aspects will inevitably lead to sales growth, improved customer satisfaction, and many other benefits. Your business can attain new heights and gain untapped potential.