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How many types of CRM are there?

CRM system can be used in small businesses to bigger businesses. The system permits the organization to better serve clients and customers, as well as probable clients/customers, by putting together information from various departments of the organization and offering them in a cohesive manner.
There are 3 different types of CRM System used for the businesses.
Here is the explanation of the types of CRM system

Operational CRM
Operational CRM centralizes the business process, includes Sales, Marketing and Service automation. The main objective of this kind of CRM is to generate leads, change them into contacts, hold all required details and offer service throughout the life cycle.

Collaborative CRM
Collaborative CRM is otherwise called as Strategic CRM, which enables an organization to distribute customer data among various business units like the sales team, finance team, marketing team, service team and support team. The purpose of collaboration is to uplift the quality of service and customer satisfaction.

Collaborative CRM benefits are as follows:

  • Recognizes customer service payment reduction opportunities
  • Combines data to create an improved customer service overview
  • Promotes customer-channel communication

Analytical CRM
Analytical CRM helps management, marketing, sales and support organization to determine the desirable way to serve their customers. Data analysis is the major function of this type of CRM applications. It examines customer information, coming from various touch points, to get valid insights about the current status of an organization. It helps management to take the honorable decision, marketing executives to know the campaign effectiveness, sales administrators to increase sales and support organization to improve quality of support and build the strong customer relationship.