What Is a CRM and Why Is It Important?
August 2, 2022

What Is a CRM and Why Is It Important?

It is a well-known fact that customers are the lifeblood of any business. Customers now have many options when making an in-person or digital purchase; in return, customer relationships are no longer as meaningful as before. Today, managing customer relationships is more challenging than it once was. Modern customers are informed and immune to traditional marketing tactics, which is why businesses opt for customer relationship management (CRM) tools and applications.

What Is Customer Relationship Management (CRM)?

Most people consider a CRM a system that collects and stores customer information. Customer relationship management is a business strategy designed to improve customer relationships and increase revenue and profitability. In short, it's a formula for business success through enhanced customer relationships.

Today's CRM applications entail cultivating customer relationships and delivering engaging experiences while maintaining an active database of customer interactions. CRM software gathers customer data from multiple channels, including overall purchase history, personal information, and purchasing behavior patterns. In return, businesses use the data to develop different strategies to acquire new customers and retain existing customers while maintaining good relationships with them.

Benefits of a CRM

Since customers are vital to a successful business, it's crucial to acquire new customers while still retaining the existing ones. A CRM is a cheat sheet that offers everything you need to ace the customer relationship aspect of business. CRMs provide a better understanding of customer demographics, needs, habits, and overall experience. Using one helps the user tailor products according to the customer's needs and conversation history, resulting in higher customer satisfaction and loyalty.

Furthermore, the automation and simplification of processes help companies become well-organized and productive. CRMs can also integrate with several other services and channels, making it easier and faster to connect with the customer, thus, enhancing business productivity.

CRMs are great for segmenting customer data making it easier to run targeted campaigns. They combine sales, marketing, and customer service teams to create synergy and pave the way for business growth. CRMs even offer data privacy because they acquire permission from the customers to access their data without violating their privacy.

In the end, CRMs help businesses foster customer relationships, increase sales and profit, and pave the way for professional growth and success.


B2B (Business to Business) refers to the business transaction between two or more businesses, whereas B2C (Business to Customer) refers to a business transaction between a business and customers.

Since the target market for each module is different, their respective customer relationship management (CRM) platforms must be tailored accordingly. Here are some differences between B2C and B2B CRM:

Industry-Specific CRMs

The industry-specific CRMs offer specialized features based on specific industry needs. Several CRMs focus on unique business models such as mortgage, real estate, small and medium businesses, automobiles, and more. Below are some of the top industry-specific CRMs:

* The indicated CRMs are currently integrated with Botsplash, making client onboarding easy and efficient. We currently have the rest of the programs listed below on our roadmap for integration and we can integrate with most applications that offer an open API.

Top Mortgage CRMs


Velocify is the market-leading sales automation solution, enabling loan officers to drive sales, communicate with borrowers, and close loans more quickly.


  • Automated multi-channel marketing and communications solution
  • Reliable and functionally-rich sales dialer
  • Powerful multi-channel communication

Big Purple Dot

Big Purple Dot is a top-notch mortgage CRM software that enables mortgage lenders and realtors to collaborate with team members to capture and generate leads.


  • Automated lead distribution
  • Call tracking and recording
  • Automated pre and post-sale marketing
  • Robust CRM app
  • SMS marketing
  • Email marketing


Ricochet360 is a popular mortgage CRM and marketing automation platform that combines the fastest dialer with comprehensive mortgage tools. It automates the entire workflow, and the mortgage lead management software makes it possible for lenders to contact and nurture leads efficiently.


  • Easy-To-Use Lead Management System
  • Automated Email and SMS campaigns
  • Cloud-based phone system
  • Social media integration
  • Gamification for loan officers
  • Real-time chat
  • Inbound call tracking
  • Skill-Based Call Routing
  • Intelligent Calling Cadence


Insellerate is a pioneer sales and customer retention platform that is easy to use, scalable, and customizable. It includes full CRM functionality, including built-in lead management and automated marketing.


  • Real-time automated communications
  • Contact strategy management and automation
  • Easy to use tools
  • Automated loan status updates through text and emails.
  • Automated branded marketing and co-marketing
  • Lead & workflow prioritization
  • Inbound & Outbound Call Handling
  • Priority alerts

Top of Mind

Top of Mind is an industry-leading mortgage CRM software that helps mortgage professionals easily maintain and strengthen their relationships with borrowers, recruits, members, brokers, and real estate agents. The company was merged into Black Knight, Inc in 2021.


  • Automated omnichannel marketing
  • Automated workflow
  • Custom lead nurturing campaigns
  • Automated thank you cards
  • Follow-up communication
  • Customizable for all-size business

Top Real Estate CRMs


BoomTown is comprehensive CRM software built with all the tools, technology, and teams for real estate success. It is a top user-rated real estate CRM that offers a robust online marketing system for real estate professionals.


  • Predictive CRM
  • Lead generation
  • Marketing automation and lead nurturing
  • Lead qualification and concierge service
  • Customizable for all-size business

*Follow Up Boss

Follow Up Boss is the top real estate choice for growing teams and high-producing agents. It is perfect for the real estate professionals who use multiple lead sources and other tech tools with which they need their CRM to integrate.


  • Calendar Management
  • Client/Property Matching
  • Contact Management
  • Lead Management


ClickUp is a user-friendly CRM software that centralizes tracking, data visualizations, email, and other features into one place, allowing you to better manage and grow your interactions with customers. It offers top-notch service to both small as well as large businesses.


  • Automated sales pipelines
  • Simplified account management
  • Communication tools
  • Customized customer database
  • Automated onboarding
  • App integration


Freshsales (formerly Freshworks CRM) is a popular CRM software that offers robust features at affordable prices. The CRM caters to all-size businesses and has a simple, easy-to-use interface that distinguishes it from the rest.


  • AI-powered chatbots
  • Custom sales activities
  • Auto-assignment rules
  • SMS integration
  • Multiple sales pipelines
  • Predictive contact scoring

Top Producer

Top Producer is a foundational product in the real estate market that offers robust features required by real estate agents, teams, and brokers to grow their business. It is best for real estate agents who want to access real-time market data to share with their clients.


  • Personalized multi-channel marketing
  • Automated follow-up for leads
  • Predictive marketing
  • Automated follow-ups

Top Automotive CRMs


Dealersocket is a leading CRM that transforms the automotive experience through a CRM platform leveraging integrated customer data. It gives auto dealers the power to manage the customer relationship throughout the lifecycle.


  • Centralized customer management
  • Automated and insight-driven marketing
  • Real-time analytics
  • Enterprise-wide insights

Dominion Dealer Solutions

Dominion Dealer Solutions offers market-leading CRM software that helps owners run their auto dealerships effectively. DDS helps with the automated tapping of multiple data sources and customer engagement.


  • Multi-channel solution
  • Automated marketing services
  • VIN-based marketing

Selly Automotive

Selly Automotive is a modern CRM platform that allows dealers to manage internet leads, text messages, calls, and automated customer follow-up. It provides innovative customer solutions for the BHPH, independent, small franchise, RV, and power sports dealers.


  • Dealership phone routing system
  • Inventory and sales sync
  • VIN and driver license scanner
  • Lead analytics and track sources

DealerMine CRM

DealerMine CRM offers solutions to discover revenue opportunities through customer data and drive new customers down your service lane. Its goal is to create a lasting legacy for the auto dealership by implementing the CRM.


  • Multi-channel outreach
  • Internet lead management
  • Portfolio management
  • Follow-up management


DealerPeak is an all-in-one CRM for auto dealerships that efficiently manages customers, sales, and marketing across the entire dealership group. It offers a data-driven, enterprise-wide CRM platform for the automotive industry.


  • Data warehouse integration
  • Multi-source marketing campaigns
  • Customer lifecycle management
  • Open API feature

Top Small and Medium Sized Business CRMs


Zoho is an omnichannel, cloud-based CRM software that helps organizations maintain and expand customer connections. It offers end-to-end, fully customizable CRM solutions for growing businesses and enterprises.


  • Business intelligence and analytics platform
  • Custom solutions
  • Team collaboration
  • Marketing automation
  • Canvas design studio
  • Predictive sales and intelligence


Streak is a CRM built into Gmail and google workplace, making it easier for users to manage customers directly from Gmail. Individuals can use Streak to track business processes, including sales, partnerships, support, hiring, deal flow, and more. It is best for freelancers, startups, and small businesses.


  • Autopilot pipeline management
  • Google workplace integration
  • Centralized data
  • Customizable workflow


Salesforce is a top-reviewed CRM software that offers many features, customization capabilities, and automation options for your business needs. It is an all-inclusive solution best suited for large or scaling businesses.


  • Customized sales and marketing service
  • Einstein analytics
  • Lead management
  • Comprehensive sales forecasting


Freshdesk is an industry-leading CRM with many features to track and manage customer service, customer engagement, and team collaboration. It is best suited for smaller businesses and startups.


  • SLA management
  • Scenario automation
  • Canned responses
  • AI-powered chatbot


The use of a CRM focuses on building good relationships with customers. They allow businesses to understand customer needs and enhance customer satisfaction and loyalty. Additional CRM benefits include transparent and effective communication channels and improved business productivity. The business model and the company's industry might influence how CRMs are configured.

For more information about Botsplash, we encourage you to email us or schedule a demo. We can work with you and your team to determine if we are the right fit for your communication needs and highlight the added benefits that a CRM integration can provide.

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