CRM, or Customer Relationship Management is an all-inclusive software system that controls customer relationships. It efficiently analyzes, manages and improves your customer relationships with the help of a cloud solution
What is CRM
A CRM system collects, connects and evaluates every customer data, consisting of contact details, communication with company representatives, procurements, service requests, possessions, and estimates/proposals. The software allows users to obtain that data and comprehend what occurred at each stage of engagement. As a result, a comprehensive customer profile is created, and a firm customer relationship can be nurtured.
Consolidated customer data can also be used for various sales, marketing, and customer service tasks like incentive compensation modelling, sales forecasting, territory segmentation, campaign creation, and product innovation. CRM tools enable customers to engage, increase sales, build reliable connections with them, promote customer loyalty, and improve overall revenue and profitability.
Customer Relationship Management emerged a while ago. At the beginning of 2000s, Oracle, SAP, and Microsoft were mainly focused on CRM. But then the cloud happened, and a slew of new vendors appeared. There are numerous CRM platforms available today, with NetSuite CRM and HubSpot being two of the most popular. Each has its own set of advantages.
Each vendor provides standard CRM functionality as well as sales forecasting, analytics, email marketing, reporting, and other services. Keep in mind the specific requirements of your organization when you analyze each vendor's features, pricing, and ideal user personas to determine which solution is best for you.
Who should use a CRM
NetSuite CRM is an Oracle owned CRM tool, but it has much more capabilities including business management, finance and accounting, human capital management (HCM), omnichannel e-commerce, analytics, and professional service automation. This is available as a complete suite. Buyers can also opt to use the CRM component alone.
The strength of customer relationship management originated by regularly collecting and updating the customer data, evaluating it and further utilizing these understandings to make the best suitable offer to our prospects and enhance business outcomes.
An appropriate CRM tool based upon live data, can assist you more than just sales process, which is significant to your business operations. Through a thorough analysis of your customers, you can provide and send the latest and most suitable offers at the perfect moment.
What is NetSuite CRM?
NetSuite is a CRM tool that is owned by Oracle, but it is much more than that. Finance and accounting, business management, human capital management (HCM), professional services automation, Omnichannel e-commerce, and analytics are also included. This is available as a complete suite. Buyers can also opt to use the CRM component alone.
In terms of CRM component, NetSuite facilitates the creation of a unified view of leads,prospects, customers, partners, and vendors. It aims to provide real-time data to sales, marketing, and support teams in order to improve customer experience and thereby grow your business.
What is HubSpot?
Unlike NetSuite, HubSpot concentrates only in CRM. It labels itself as a user friendly CRM, consisting of different modules for marketing, content management (CMS), customer service operations and sales. Depending upon the requirements of the organization, each of those hubs is available separately or as a package. The assimilation of CRM and web page creation via HubSpot's CMS is one of its strengths.
Depending upon the requirements of the organization, each of those hubs is available separately or as a package. The assimilation of CRM and web page creation via HubSpot's CMS is one of its strengths.
NetSuite CRM vs. HubSpot
NetSuite's forecasting tool incorporates a three-tiered probability system for assessing the likelihood of potential sales. It shows key performance indicators (KPIs) in a dashboard, but it does not depend completely on automation. Sales representatives can change forecast parameters to make them more precise as per the field reality. With Oracle NetSuite, numerous customization options are available.
HubSpot, too, has good features for sales forecasting, sales pipeline management, and sales management. NetSuite offers far more customization options and ways to tailor forecasts to specific verticals.
Oracle NetSuite Analytics is a standalone application that provides analytics to CRM, ERP, and other facets of the extensive NetSuite world. Its tools are outstanding, highly self service oriented and exhaustive in the offering.
HubSpot incorporate analytics into its marketing hub. This allows users to monitor website traffic, individual page performance, and sales pipeline trends. Some analytics capabilities assist businesses in tracking brand sentiment and the total level of involvement of various customers.
HubSpot is preferable for those who just need to possess useful analytics from their CRM data. Oracle NetSuite facilitates, if an analytics engine i required that is able to blend inputs from ERP, CRM, BI, HCM, and other systems.
NetSuite activates the handling of end-to-end email marketing campaigns through database management, segmentation, customization, and auto-unsubscribe capabilities.
This software intends to streamline lead qualification and conversion by making it simple to observe task and purchaser indicators through email marketing. As a result, NetSuite contains landing pages and forms that channelize data to a larger CRM database and place qualified leads to the appropriate salespeople.
NetSuite's lead generation features make email marketing more effective.
When leads interact with email and content, the platform notifies users, making it simple for salespeople to consolidate their favorite sales and marketing documents to send to prospects.
Users can also develop templates on the basis of the emails with the increased response rates. HubSpot automatically generates metrics about engagement rates for various aspects of ongoing email campaigns.
NetSuite CRM provides full customer service management (CSM), with access provided to anyone in your organization who interacts with customers like sales staff, sales support operations, and members of service divisions. Customers' information can be updated on the fly using mobile app facility, allowing you to guarantee that your teams are efficiently serving your clients and that there are plenty of cross-selling possibilities.
HubSpot, as anticipated, provides tools to assist you in managing consumer demands, priorities, and profiles. What's more intriguing about HubSpot is the customer support they provide.
Which is better, NetSuite or HubSpot?
There is no clear-cut answer or ideal solution when it involves choosing a CRM platform. We cannot dismiss the advantages of Oracle NetSuite, especially for organizations that utilize it as their primary ERP platform. NetSuite CRM is integral part of the ERP and hence data flows between CRM and ERP seamless.
As we have seen, HubSpot is also an easy pick for a company that depends highly on content to generate leads, but does not require the process depth.
Leverage the CRM capabilities available on the most popular CRM platforms. Contact Jobin & Jismi to explore the vast functionalities in NetSuite CRM. Connect with us today.