The modern online CRM software has a vast amount of features and benefits. They’re no longer just one-size-fits-all and instead are often tailor-fit to suit a business’ needs. But analytics remains one of its core functions. If you don’t how to use it the right way, then you’re missing out on perhaps the most important feature. Below are a few ways you can use the data from CRM software to achieve the best results:
CRM software collects a lot of data about your potential, current, and future customers, but all of that data will be a huge mess if they are not segmented properly. But if you do separate them into segments, either via their behaviour and demographics (or both), you could target different users with special offers made specifically based on their interests.
The best crm software are those who take this information and create different targetable segments for you so you don’t have to go through all the trouble.
If you thought there was no way to track how satisfied your customers were, then you’re wrong. Case in point, if customers call your customer service regularly about a particular product, there’s a huge chance that the product is either flawed or has problems, resulting in a poor user experience.
CRM software gathers the data of such complaints and presents them to you so you can identify what the problem is and come up with a solution, improving customer satisfaction and increasing chances of customer retention. This, in turn, will increase ‘customer lifetime value’, which is a prediction based on the possible future net profit from an ongoing relationship with a customer.
The data analytic features of today’s CRM software can offer you valuable insight into how your salespeople are performing and how to develop them. Available information includes, but is not limited to revenue generated, sales margins, and sales cycles.
Access to such information will make it easier for you and your sales managers to point out problems that employees experience and help them become more effective. Overloaded employees are also much more visible thanks to the data available. Brought to prominence also are those who have been performing very well and how and why they’re selling more compared to others. This is valuable data that you can then use to re-balance and re-distribute your respective teams for maximum efficiency.
The analytical value of CRM software just cannot be overstated; it’s like a treasure of data just waiting to be unearthed. All you have to do is dig it up, learn how to use it, and find a way to make the most out of the data provided. If you take the time to learn each of the insights provided, you can create different kinds of targeted campaigns that will help you increase your organization’s visibility, increase sales, and ultimately, maximize your return of income.