14 Oct How To Utilize Your Customer Data With CRM ?
As the fast changing retail industry becomes more and more competitive, it is crucial for retailers to develop a good CRM (Customer Relationship Management) strategy that could make them stand out among the competitors. However, as you think about investing in a CRM software, you might have thoughts on how the customer data could be utilized to achieve your business objectives. Hence, we are going to find out how customers’ data in your CRM could be fully utilized to skyrocket your business.
How To Utilize Your Customer Data With CRM?
- Centralizing all your customer data
- Automating customer-facing business processes
- Supporting sales and marketing efforts
Centralizing All Your Customer Data
First of all, one of the challenges retailers might face is to keep track of the customer preferences and their previous shopping behaviors. In order to provide a better shopping experience for customers, retailers might need to individually record the customers’ data and information. However, the information might not be transferable to other employees of the company. Thus, if a customer is being served by another employee of the company, the customer would need to provide his information and data all over again. On the other hand, with CRM, it will allow you to manage all your customer data in one central database. As all the customer data is readily accessible in the CRM, your employee would be able to utilize this integrated information to quickly understand any customers in just a glance of the CRM interface, hence increasing your sales conversion rate.
Automating Customer-facing Business Processes
To convert cold leads to loyal customers, retailers have to manage many customer-facing processes such as marketing, identifying prospecting customers, generating leads, sales conversion and members subscription management. Without CRM, retailers might need to manually track and follow up with customers individually. Inversely, having a CRM means that you could have a clearly defined process of how customers should be approached and followed up. Once a prospect is being logged in the system, every interaction done with the prospect will be recorded in your CRM. This means that the system could automatically show the next course of action that is required to be done or said to the customers. With the information tracking system on CRM, retailers could also utilize the customer information in CRM to follow up with the customers using marketing automation tools such as app notifications, messaging or email. Thus, no customer will be left hanging throughout the shopping journey with the company, ensuring that all customers are being followed up accordingly and timely.
Supporting Sales And Marketing Efforts
One of the headaches of retailers is that previous customers stop purchasing from their company, which is also known as customer churn. Nevertheless, with the comprehensive database of customer profiles in CRM, it provides a holistic view of the customers needs and preferences. This would then help the retailers to enhance their customers’ retention rate. For example, sales employees could utilize information such as customers’ remaining membership points and previous purchase history to support their sales effort, enabling them to better retain, up-sell or cross-sell the customers. Besides that, the marketing team could also utilize information such as previous search and enquiry history of the customer to send personalized marketing ads to the customers. This would help the company to determine the most suitable marketing ads that would most likely interest the customers. Thus, with the database that provides a complete view of the customers, it would maximize the result of the sales and marketing effort.
In conclusion, a company that fully utilizes customer data would help to increase their sales conversion, customer retention, and maximize their sales and marketing effort with the aid of centralized customer data and automation of customer-facing business processes, hence bringing your business to the next level. Interested in knowing where you could get a CRM software at an affordable price? Fortunately, we’re here to help you cut costs in your company’s operations. Don’t hesitate to reach out to Senwave, for the solutions to all your problems.