Do you really need customer relationship management (CRM) software? Research reveals CRM is more important than ever, as it is the underlying force that defines wise business decisions.
The business world is undergoing a transition; where key decisions are made based on data, not opinion. CRM provides all the necessary statistical data necessary to enable educated business decision to be taken.
Having the ability to undertake data analysis at the touch of a button is fundamental. The data companies analyze include customer demographic information; purchase history, such as purchase time, amount, quantity, price; purchase channel — online, offline or catalog; payment medium —whether the purchase was a response to promotion.
Although business smarts and intuition are still essential traits for decision makers, their value is “enhanced” by data analyses. Such data-driven decision-making can be seen everywhere, from business to sports and politics.
Benefits of CRM
The benefits of using customer data and trends derived from CRM software are two-fold,
- By capturing the data and identifying trends companies can provide customized offerings to different customers
- By tracking the effectiveness of marketing campaigns companies can deliver highly-targeted campaigns based on proven strategies.
For instance, by analysing data, such as customers’ shopping habits, CRM can help determine when and which customers will receive promotional materials and whether those materials should be sent by mail or email marketing.
In this way, firms can increase return on investment ROI. For the same amount of investment, profits or revenues become higher when they use customer relationship management techniques. This is because more people will respond to promotions as firms target the right customers who have higher probability to purchase.
CRM data sources
CRM software collects data from various sources; website registrations contain treasure troves of data, such as purchase history and demographic information, while social media and Web analytics can provide additional information.
If you require assistance in understanding how CRM can benefit your business, contact ProAptivity. ProAptivity specialize in the implementation of Maximizer CRM. Contact us today on 028 9073 5630 for your free consultation to understand how CRM can benefit your business.