A tool that streamlines all your sales processes manages your customer’s data, and assists in nurturing new leads is invaluable.
That’s Customer Relationship Management or CRM in a nutshell. Think of CRM as an efficient right-hand person who does all the sales talk, follow-ups, after-sales management, and everything in-between for your business.
In this article, we cover how you can further manage your customers without being overly hands-on.
The benefits of CRM
To create, build, or maintain relationships with your customers, you first need a customer-centric marketing strategy. Keep in mind that offering long-lasting, mutually-beneficial solutions is the goal, as it gives you a higher chance of retaining your customers over time. Successfully doing so will lead to increased lifetime value for your brand.
Here’s why CRM is a great tool: all the information about your leads and customers are well organised and kept in a digital database system. This means that every interaction that takes place by a customer can be tracked to allow your teams to oversee and monitor what’s happening at any given point in time.
In addition, CRM ensures trustworthy reports, improved efficiency and happy customers.
CRM is also highly effective and efficient when it comes to marketing. Looking to set up a lead-nurture flow, or send out a generic newsletter every week? You can do so with CRM automation. You can even set up an A/B test to experiment with your email messaging or creative elements. There’s even the means of creating a campaign that could be sent to different segments at various times. With a CRM system in place, you’re able to generate insights and learn how your customers react to different messaging styles, email designs, and when they usually read your emails.
All this data can assist you in creating more relevant content, building better segments, and solidifying your email marketing strategies.
One way of further optimising the functions of your CRM platform is by automating the sales flow. This involves customising your communications towards customers based on the given situation, for example, the buyer decision process of the sales cycle.
This is, of course, assuming you know enough about your customers, which brings us back to why CRM systems track your customer’s digital footprint. Getting to know your audience as much as possible helps tailor those communications more personally.
Categorising recent sales leads accurately is an important practice to consider. This will help you target a broader demographic with tailored promotions that best fit their needs. From this, CRM firms will be able to identify the right leads and ultimately determine the best opportunities in acquiring sales for your business. This, in turn, avoids wasting valuable resources on unlikely customers and clients.
These finer points can help sales representatives work more efficiently while optimising sales forecasting to be more accurate.
Another feature available through CRM is the ability to sift through customer data that comes from multiple sources; also known as a form of “data mining”.
This function enables businesses to learn more about their customers; from their characteristics, to the best way of communicating with them, and even where their sales came from (desktop, mobile app, etc.).
On top of tracking digital footprints, you can also detect patterns and habits formed from customer behaviour. This not only helps inform your decision-making processes, but also determines positive and negative triggers based on your customers’ actions.
Apart from prediction, analytics also allows you to leverage past sales data and the response to previous marketing efforts. Through certain sales retrospectives, you’ll be able to discern what was not working for your customers and alter the promotion accordingly.
Although some instances of data analytics appear to risk trial-and-error, it’s still a vastly optimised approach of understanding and engaging your customers, versus tossing everything at the wall to see what sticks.
We hope you found this article to be relevant and useful. If you’re interested in learning more about CRM, be sure to sign-up for our newsletter. Or if you have any questions, feel free to contact us at email@example.com.