Customer Relationship Management (CRM) – Using Data to Understand Customers and Boost Sales

Customer Relationship Management (CRM) – Using Data to Understand Customers and Boost Sales

Equal parts strategy and technology CRM is all about using data to understand the needs of customers and increase sales. The success of CRM is contingent on the business developing a clear plan around which to make use of the CRM tools and then applying that plan to the entire company.

CRM is an application that allows businesses to store data on prospects and customers, monitor interactions, automate campaigns, and generate reports. It business advertising boosts sales lets businesses communicate and connect with their customers and prospects through a variety such as email, text message and other social media platforms.

While most people think of CRM as sales but the reality is that it can be utilized by any department within any business. For instance finance and billing departments can use CRM to monitor commissions, analyze contracts, and compare sales forecasts with actual revenue. Marketing departments can utilize it to spot patterns and opportunities to better target potential customers.

Sales teams create a tsunami of data each time they talk to customers, meet the new prospect, or follow up on leads. Traditionally, this data went into non-connected media such as laptops and notebooks or remained in team members heads. CRM systems allow this information to be organizedly collected and stored in a central location that is instantly shared with all of the company’s representatives, regardless of which channel they are interacting on.

The most advanced CRMs currently integrate AI and machine learning, which analyze data and provide actionable insight on every opportunity. The company can then enhance their customer experience, and increase engagement to increase loyalty and retention.

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