4 Types of CRM: Categorizing Customer Relationship Management Approaches

Customer Relationship Management (CRM) is a strategic approach that companies use to manage and analyze customer interactions and data throughout the customer lifecycle¹. The goal is to improve business relationships with customers, assist in customer retention, and drive sales growth¹. There are four classic types of CRM systems that are generally agreed upon²³:

1. Operational CRM

Operational CRM provides customer service or marketing support through automation and streamlining business processes². They capture customer interactions and track lead qualification and action marketing automation². Operational CRMs collect data from different marketing sources like social media, emails, or website visitors². An example of an operational CRM is Spotio².

2. Analytical CRM

Analytical CRMs use algorithms and machine learning to analyze the data they gather to create optimal customer targeting². Analytical CRMs provide insight into data and then understand and anticipate the customer’s needs that humans would otherwise miss². An example of an analytical CRM is OLAP².

3. Collaborative CRM

Collaborative CRMs are mainly for customer relationship management tracking². These CRM solutions allow you to manage and track interactions with customers who contact your company via resources like social media, emails, and websites². An example of a collaborative CRM is Dynamics 365 Sales².

4. Strategic CRM

Business models that focus on repeat and loyal customer bases use strategic CRMs to learn more about their customers². They then use this knowledge to build and maintain long-term relationships². Like the other types, strategic CRMs collect, analyze, segregate, and apply customer information and market trends to develop better value propositions².

Relevant SaaS Products for the SaaS Subscription Stack

Here are some relevant SaaS products that can be beneficial for the SaaS subscription stack:

1. Whop⁴: A top-rated SaaS subscription management software. Official Website
2. Stripe Billing⁵: Known as a payment provider, Stripe also offers subscription management features. Official Website
3. Chargebee⁶: A globally used SaaS subscription management software. Official Website
4. Zuora⁷: A comprehensive subscription management platform. Official Website
5. Pabbly⁸: A subscription management software that offers a range of features. Official Website

Conclusion

CRM systems are crucial for managing customer relationships and driving business growth. Different types of CRM systems cater to various aspects of customer relationship management, including operational, analytical, collaborative, and strategic. Additionally, there are numerous SaaS products available that can enhance the functionality of a CRM system, particularly in the realm of subscription management. By leveraging these tools, businesses can create a robust and efficient customer relationship management system.

Relevant Links

1. Operational CRM
2. Analytical CRM
3. Collaborative CRM
4. Strategic CRM
5. Whop
6. Stripe Billing
7. Chargebee
8. Zuora
9. Pabbly.