Business in today’s data-driven, information sharing era is a ruthless ring of competition. It’s no longer viable to offer customers appropriate products only. You need to create distinct value and customer experiences.
This calls for companies to adopt the best CRM software that enables ready access to customer data and processes it in a way that will help anticipate and resolve customer issues, lay better strategy, and make informed decisions.
Here’s why you should have your customer’s data with you on the go.
Whenever you encounter entrepreneurs and ask what their most important assets are, there’s usually a flurry of answers. Hoteliers will say location and techpreneurs will vouch for hot products. Sadly, customers often find a place in the bottom percentile.
It is not surprising therefore to come across research that shows that over 60 percent of customers stop doing business with a company because they feel ignored. Previously we wrote about how important it is to sort your customers.
To curb this, businesses should take an approach where customers are treated as the most valuable assets. Online CRM systems enable businesses to capture and avail customer’s data on the go. Knowing some of your customers’ important information helps you anticipate and address their needs thus deterring any feeling of neglect.
Information on what customers purchase, how many times they contact customer service, and how long they linger on a given website can create an insightful narrative about buying habits and preferences. For instance, credit-risk teams in banks can use such information to establish if a customer whose bank balance frequently breaks the red line could be a higher risk of default. They can, in turn, implement a more proactive collective strategy and cross-sell financial-planning services. Marketing teams will also know which language and channel to use when addressing a specific segment and how to maximize campaigns. This will also enable you to set goals easier.
Data-driven decisions are factual decisions. It is better than decisions made on the basis of a hunch or imitating the actions of your competitors. Such decisions could be as simple as “I will start sending an email on this day of the week because my data says that more of my customers open their email on this day of the week.” As opposed to sending emails to your customers when you have free time in your schedule.
Data-informed decisions make a business more efficient – we have also established that in a previous article. On the other hand, when business owners make decisions without data, they often end up doing a lot of work with little or no results. Worse still is when they don’t know why there are no results.
To conclude, for any company to take good care of its most valuable asset, strategize better and make better decisions, it is crucial to have customer data at hand. The best CRM software makes this possible and convenient. It’s a must-have for any forward-looking business.
Find out more about our in-house developed, super easy to handle CRM system, QuickDesk: