Customer relationship management systems (CRMs) are great for collecting and organizing data. But, what are we doing with all this data? Promoting new services to existing customers, improve customers loyalty, repurpose old leads that could be interested in new products or services?
A CRM system can store a big amount of customer data and by using this data you can form deep insights of how your prospects and customers interact with your business. This will help you to build a better customer experience, increase the customer engagement and loyalty.
Let the data guide you
Use your sales dashboard to check progress towards your sales quota, monthly trends, and overall value of your sales pipeline. Without a good CRM, you simply won’t be able to manage your sales pipeline properly. Gain a full view of your entire sales pipeline and never get lost about how your team is tracking toward quota, and you’ll have all the data you need to coach your team to success.
Updated and correct data
CRM is most effective when the data is updated and fresh. If the customer’s address, company name, or preferred method of contact has changed, your staff should update the information immediately, so your sales and marketing teams are always equipped with the right information.
Find potential money between the cracks using filters
Filter data in your CRM to find prospects that you haven’t spoken to in a certain time, maybe they said no due to bad timing or the price. Maybe their attitude has changed? Play with different ways to filter data and soon your salespeople will have a golden mine to pick from. The next step is to automate this process so that these lists are created and served to the salespeople automatically.
Set up automated email sequences and collect more leads
Since many sales teams are more data-driven than ever, take the advantage to automate your workflows to eliminate time-consuming and repetitive functions. When new leads are added to a CRM (newsletter subscriptions or website visits), you can program your CRM to send follow-up emails, offer promotions, invites to webinars and events to keep your business at the forefront of their attention. This saves you a lot of time, spent on writing emails while also making sure that you are engaging your prospects throughout the whole sales process.
Unlock hidden insights from your customers’ purchase history
With a CRM you can boost your sales performance by analyzing your existing customers’ purchasing history. It’s easier to sell to existing customers than acquiring new ones. One of the keys to upselling is that you offer products that add value and improve your customer’s life.
If your company uses a CRM tool, you already own all the information needed, the challenge is to find a clear and organized way to access this knowledge by unlocking the value stored deep in your CRM data.
It is important to have as much data as possible about customers, products, and revenues in your CRM, but this information will never be useful or bring value to your business if you don’t define which type of data, metrics and KPIs you need to follow-up on a regular basis. Once your data is organized, it will be easier for your sales teams to adopt a data-driven approach.