3 Types of CRMs You Need to Know About

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3 Types of CRMs You Need to Know About
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Whats driving your search for the perfect CRM?
Do you want to optimize your sales process or
automate your marketing efforts? Maybe you want
to increase customer satisfaction. Or maybe you
just want a single source of truth for your
business that'll increase collaboration between
various departments.
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A customer relationship management (CRM) software
is the ideal solution for all these problems.
But not just any CRM will do the trick. There are
three core types of CRM on the market, and you
need to choose the right one for your needs.
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In this article, we breakdown what those three
different types of CRM are, when they are most
useful, and how you can ensure you pick the
perfect CRM for your business.
What is a CRM?
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A CRM is a software solution that manages,
records and facilitates interactions between
sales and marketing teams and customers.
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At a basic level, CRMs are essential for contact
management. They store records of customers and
potential customers. But modern CRMs do so much
more. They can also
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Automate sales processes Track leads Personalize
marketing messages Provide business
analytics Act as a centralized customer
messaging platform As you can see, CRMs are a
vital tool for a number of departments and
business functions. Marketing teams rely on them
to run lead generation and nurture campaigns,
personalizing messages with customer data. Sales
teams rely on them to manage their pipeline,
track customer interactions, and automate manual
sales tasks so they can spend more time speaking
to consumers. Customer service teams rely on CRMs
to understand each customer, provide
personalized support and chase down the right
employee to speak to when problems occur. Not
all of the features above are available in every
CRM. While many CRMs have a broad range of
features, most focus on one speci?c part of the
customer lifecycle. Download the How to Choose
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What are the 3 types of CRM? There are three core
types of CRM operational CRMs, analytical CRMs,
and collaborative CRMs. Each type has its own
set of distinct advantages and is geared towards
a different process.
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Operational CRMs An operational CRM aims to
improve the customer-facing aspects of your
business, speci?cally how well your marketing
and sales teams generate new leads and convert
them into customers. They provide a complete
overview of how customers interact with your
company and a range of features that help sales
and marketing teams engage them. Operational
CRMs can also improve the way customer success
teams and account managers interact with
existing customers and upsell additional
products or features. Operational CRMs are useful
to the vast majority of your employees, but
they'll be particularly valuable to sales and
marketing executives who are in the trenches
every day, speaking to customers and launching
marketing campaigns. An operational CRMs
features center around sales and revenue growth.
They include Contact management Storing all
customer information (contact details, pain
points, previous interactions) in a single place
accessible to everyone. Lead scoring
Automatically scores leads based on their
propensity to buy. This helps salespeople
prioritize the best accounts. Sales automation
and marketing automation Employees can use
functionality in operational CRMs to
automatically send email campaigns to prospects
based on their activity. TigerLRM has a suite of
operational tools that give your sales team more
time by automating tedious sales cadences and
sending out messages across a multitude of
channels. Analytical CRMs Analytical CRMs help
your sales and marketing teams make better
decisions. It takes all of the data youve
stored in your CRM (things like average deal
size, sales cycle length, customer engagement
metrics, etc.) and turns them into actionable
reports and graphs. Analytical CRMs are best
used by mid to senior-level managers in sales and
marketing teams, people who are responsible for
setting strategy and targets as opposed to doing
the work of contacting prospects. An analytical
CRMs features center around storing and
analyzing data. They include Data warehousing
Storing all customer data in a single, accessible
place. Data mining Understanding similarities
and differences in data sets, like ?nding out
what your best customers have in common, for
instance. Sales forecasting Analyzing past sales
history to predict future demand. This is a
valuable tool for sales managers looking to set
targets. Sales and marketing attribution
Understanding which touchpoints were most
valuable when converting prospects to
customers. TigerLRM lets sales managers create
automated leaderboards, analyze sales pipelines
and integrate sales enablement material to boost
rep performance. Collaborative CRMs
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Collaborative CRMs (also called strategic CRMs)
share customer information across departments,
removing siloed data and allowing teams to serve
customers better and increase customer
satisfaction. While all of the CRMs discussed so
far make it easier to work together as a
business, collaborative CRMs focus on improving
the ways you can work together to serve
customers, as opposed to acquiring them. This
means collaborative CRMs are ideal for anyone
working in customer support or customer success.
It makes it easy to ?nd out everything they need
to know about a customer, have a full record of
every previous interaction and see at a glance
who in the business they need to speak to when
solving an issue. Collaborative CRMs focus on
communication. They include Uni?ed customer
inboxes Third-party app integrations Interaction
and channel management Collaboration is
incredibly important in a CRM. TigerLRM provides
sales reps and customer success teams with a
uni?ed multi-channel inbox that lets team members
engage prospects and customers on their favorite
channels. When should you use each type of
CRM? There's a time and a place for each of the
CRM types listed above. You should have an
operational CRM if your focus is on growing your
business. Operational CRMs are the ideal
solutions to empower sales and marketing teams,
automate their processes and help them generate
and close more leads. They are also suitable if
you want to manage your customer information
better, keep everything in one place, and
encourage employees to make in-depth notes
whenever they speak to customers. Operational
CRMs are also suitable for businesses that want
to automate their marketing processes. You can
use these CRMs to automatically send out
personalized emails to prospects as part of a
drip campaign or based on a prede?ned set of
trigger events.
You should use an analytical CRM if you want to
better understand your customers and your
companys sales and marketing processes. The
reports that this type of CRM can generate will
allow sales and marketing leaders to see how
customers actually behave and optimize
strategies accordingly. This type of CRM is also
a good choice if you want to gather more data
from your customers and prospects in the ?rst
place. This can be particularly useful if you are
a startup looking to understand your ideal
customer and create buyer personas.
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You should use a collaborative CRM if you are
facing communication problems between
departments and want to get everyone on the same
page. A collaborative CRM is also a good choice
for companies that want to improve customer
engagement, increase loyalty, and decrease churn.
Collaborative CRMs make it easier for your
customer support teams to have meaningful
conversations with customers and take action to
improve their customer experience.
Can you use more than one type of CRM? Yes, you
absolutely can, and many businesses prefer to do
so. Using several types of CRM (either separate
tools or a single uni?ed platform) lets your
business accomplish multiple tasks at once and
ensures every department gets value from your
customer relationship software. For example,
sales reps may want to use an operational CRM to
manage their pipeline, store customer
information, and automate some of the routine
tasks they do every day. At the same time, their
managers and people in sales ops teams may want
to use analytical CRMs to understand the sales
process, identify areas for improvement, and set
achievable targets for sales reps. Thats why
weve designed TigerLRM to be an all-in-one
solution. Sales reps get a range of automated
tools they can use at the same time and close
more deals, customer service teams can access a
uni?ed multichannel inbox that lets them manage
every interaction from a single place, and
managers can use a range of in- depth reports to
optimize business processes. How to choose the
right type of CRM for your business? Follow the
steps below to ?nd the right type of CRM for your
business.
De?ne your goals
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First things ?rst, nail down exactly why you want
a new CRM. What are you trying to achieve? There
are dozens of reasons to start using a CRM or to
switch providers, including Generating more
leads and closing more deals Improving your
customer relationships Understanding and
improving your sales process Increasing access to
your CRM data, like through a smartphone app
Increasing the number of third-party tools that
integrate with your CRM. Once you know exactly
why you need a CRM, it's much easier to ?nd the
features that matter most to you and decide
which type of CRM you need. Think about
integrations You probably use a lot of other
software tools to manage other parts of your
business. While these tools can work perfectly
?ne in isolation, they become much more powerful
and have a much bigger impact on the customer
lifecycle when you integrate them together.
For instance, you can integrate your VoIP system
and CRM so that sales reps can make calls
directly from your CRM and have customer data
automatically updated when they are ?nished. Or
you can integrate a uni?ed engagement platform
like Twilio so that customer success reps can
draw on every single customer interaction when
managing accounts. Identify features that are
important to you Next, use your goals to identify
the features that you care about most. These can
include the following Data warehousing Lead
scoring Pipeline management Sales and marketing
automation Reporting and analysis Customer
interaction management Remember, these features
will probably coincide with the type or CRM that
you choose. For example, if you want lead
scoring and pipeline management features, an
operational CRM is going to be your best bet. If
you want to track customer KPIs, an analytical
CRM is best. Find a CRM that's easy to use You
dont want to waste time training your sales team
on how to use an overly- complicated CRM. Choose
one that's easy to set up and learn, instead.
Ideally, the provider will have a resource
database or provide remote training, like
TigerLRM. Spend some time thinking about how
youll migrate your existing CRM data to your
new platform, too. Most CRM providers make it
easy to migrate data (its a free service at
TigerLRM, for instance) but thats not always the
case.
Consider the future Its important to choose a
CRM that can scale with your company. After all,
you wont be the same size for long if your team
uses your new sales software effectively and
closes more deals.
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Youll need to consider how much data you can
store in your CRM and how the price changes when
you add more users. It should be easy to scale
cloud-based solutions, but on-premise upgrades
can be complicated. Stick to your budget You
dont need to spend thousands of dollars a month
on CRM. Most cloud providers offer technology
for a monthly subscription. In some cases, you
can get one for free, like TigerLRM. Closing
thoughts There are three different types of CRM
software, but that doesnt mean you have to use
one at the expense of another. The best solutions
combine each type of CRM. Thats what weve done
at TigerLRM. Our free CRM software makes it easy
for sales reps to streamline their work?ows,
managers to create reports, and customer service
teams to communicate with customers.
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