CRM industries: breaking down CRM needs by industry

Not all industries have the same customer relationship management needs. Real estate agents rely on their network to close deals, whereas contractors might use a CRM system to track employees’ work times.

With an abundance of CRMs for every industry, choosing one can be challenging. Not to mention there are also plenty of CRMs that can be adapted to any industry. To help you on your software journey, let’s take a look at what type of CRM you should choose, what to consider, and the different industries that rely on CRMs.

Different types of CRMs: industry-specific vs. general

Many companies opt for an industry-specific CRM as they offer a number of advantages, such as:

• Niche features that fit your work
• Meeting industry requirements for safety or compliance
• Access to industry expertise of CRM vendor
• Not necessary to adapt generic features to industry needs

While industry-specific CRMs have their advantages, there are general CRMs that can fit niche requirements as well, and they come with their own benefits:

• Flexible to fit your needs
• Can be adapted to any team in your company
• More customization options to build your CRM to your liking
• Generally cheaper than industry-specific options
• Access to a more comprehensive set of features

So, how should you choose between the two? Let’s take a look at some considerations to keep in mind.

5 considerations before purchasing a CRM

Before jumping into any CRM solution, take a moment to analyze your business’s unique needs. By looking at your day-to-day activities and at operations you want to optimize, you may realize that you need different CRM functionalities than initially expected. Here are some key factors to consider before purchasing a CRM.

1. Look at your budget

Of course, don’t choose a CRM platform that’s outside of what your budget permits. Make a list of everyone in or out of your organization who would need access to a CRM to see how many account seats you would need, and consider the cost of additional features as well.

2. Know your business requirements

Narrow down your main needs when it comes to implementing a CRM. Do you need to automate many manual tasks? Do you want to focus on nurturing leads? Different CRMs might be better for different goals, so decide on what’s your primary concern that you want to address.

3. Check compliance and regulations

If you’re in an industry with specific requirements for security or how data is stored, then use that to help you narrow down your list for products that are compliant. There’s no point shopping around for products that won’t get approved by management or regulatory bodies.

4. Find a mobile-friendly option

Many industries don’t work just in one place. Whether your team often moves between offices, client appointments, work sites, or branches, you want a CRM that you can take with you. Look for a platform that offers a mobile version to keep track of tasks and clients on the go.

5. Understand your customization needs

Consider whether you want a platform that’s ready for you to use as-is or if you plan on customizing it to fit your business. It’s best to go with a CRM that can be configured and adjusted with any changes your company goes through, whether that’s shifting or scaling. monday sales CRM is flexible enough to meet any business’s needs and can scale up as you grow.

Industry-specific CRMs

Below are some examples of industries that use CRMs as a daily work tool. While each industry has its own needs, each can benefit from either industry-specific or general CRM platforms.

CRM for different business sizes

• CRM for SaaS: Organizations in the SaaS space can use a CRM to track leads, help sales teams automate processes, and retain customers while tracking where they are in the pipeline.
• CRM for small businesses: Any small business can benefit from a CRM for lead management, sales pipeline management, employee collaboration, and storing customer data.
• CRM for startups: Startups can use CRMs to nurture relationships with both clients and investors, centralize data, collaborate between teams, and offer great customer experiences.

CRM for financial & insurance services

• CRM for banking: Banks can use a CRM platform to help keep customer data cohesive in multiple branches while also helping personalize each interaction.
• CRM for insurance: CRMs can help insurance agents automate certain work processes, manage leads, and better track the status of each client’s claim.
• Life insurance CRM: CRMs help life insurance companies improve their customer service, automate tasks, collaborate between teams, run reports, and centralize their data.
• Mortgage CRM: Mortgage brokers turn to CRM systems to communicate efficiently, keep records of clients and leads, and organize the details of each client interaction.
• Venture capital CRM: CRMs help venture capital firms manage their portfolios, ongoing deals, store important files, and raise capital based on data.

CRM for customer service-orientated industries

• CRM for hotels: The information gathered from a CRM can help hotel workers improve customer loyalty, manage vacation rentals, and better meet client expectations.
• CRM for retail: Retail businesses can use a CRM to personalize customer experiences and optimize sales strategies by analyzing customer data.
• CRM for restaurants: Restaurants can use a CRM platform to enhance their loyalty programs by tracking customer interactions to create a personalized experience and keep patrons coming back.
• CRM for real estate: Real estate agents use CRMs in brokerages or on the go to manage communication, organize appointments and viewings, and keep track of each client’s needs.
• CRM for lawyers: Lawyers can use a CRM to upload and store important documents, attract and retain clients, and track case progress.
• CRM for publishers: CRMs help publishers better understand their reader base so that they can release products that are relevant to their needs.
• Recruitment CRM: Recruitment firms or agents use CRMs to nurture candidates, track the recruitment process, and keep a database of possible candidates.

CRM for public service-orientated industries

• CRM for education: A CRM can help educational institutions personalize outreach initiatives, improve donor engagements, and streamline admissions processes.
• HIPAA-compliant-CRM: Healthcare organizations need a HIPAA-compliant CRM as a legal requirement as it improves the patient experience and keeps data secure.
• CRM for nonprofits: Nonprofits can use CRMs to measure the effectiveness of their campaigns, easily communicate with donors, and track campaign engagement and success
• CRM for sports: CRMs help sports teams market their events, engage with fans, sell more tickets, and attract more sponsors by organizing all data in one place.