Before we get to the main point on how CRM improves Sales and Marketing results, let’s see what CRM is about:
CRM stands for Customer Relationship Management – and it’s a software which combines all customer interactions from across departments into one place and gives you an opportunity to improve customer experience and satisfaction, service, and profitability due to centralisation of all existing data. It helps you not only gain new customers but also to keep the existing ones.
CRM contains customer related information such as leads, marketing contacts: their phone numbers, addresses, communications, campaign history and so on. This information is later used for personalisation, segmentation, campaigns and other sales, marketing, and customer service-related activities. However, having only CRM software is not enough to have deep insights of your business performance. You need to utilise your data and analytics to gain an access to that information.
Using CRM Analytics allows you to automate the process of collection your CRM data to unwrap main insights about your customers, generate relevant reports and make smarter business decisions.
Let’s see which aspects benefit the most if you are using CRM Analytics:
Customer service assessment – CRM Analytics can update you on how your team is performing by showing you figures that can be improved and goals that need to be achieved.
Improves your sales performance – By showing insights on total amount of won opportunities and opportunities win rate. You can also look at your sales pipeline, review your opportunities by sales stage and track actual against your target.
Productive lead generation and handling – You get a better insight on how your leads are generated and handled by showing number of leads that were generated, contacted, disqualified, and qualified for an opportunity.
Factual customer data – CRM Analytics makes sure that you are contacting the right person.
Detailed customer analytics – How often does a customer buys/use your products or services and how much does he spend? Which products does he buy more often? CRM Analytics gives you sharp answers and lets you build your strategy based on that.
To sum it all up, having only CRM is not enough for a business these days. If you integrate your CRM with data analytics solution will help you highlight points of development and opportunities to improve. Data needs to be collected and analysed to bring value to the decision-maker.
Take a look at our CRM Solution which is built on Microsoft Power BI and easily integrated with Dynamics 365:
Sources:
- Find the Best CRM Software for Your Business – https://crm.org/crmland/best-crm-software
- What is CRM? https://www.superoffice.com/blog/what-is-crm/
- How CRM Analytics Work https://www.businessnewsdaily.com/15918-how-to-use-crm-analytics
- CRM Analytics – Dig Deeper to Know Your Customers Better https://www.rolustech.com/blog/crm-analytics-dig-deeper-know-customers-better
