Customer Relationship Management (CRM) is key to successful marketing. But how? Is not CRM just a software to record customer data? No, CRM is much more important to get better sales. Let us checkout some ways in which CRM techniques can help in marketing.
1. Expanding Customer Base
Most of the users these days are inclined to social media and hence it is one of the best ways to promote goods and services. MS CRM developers are adding new techniques to their software, one of which is social feature. Now people based CRM is available on Facebook.
Marketers can directly extract customer information from the social networks and use it to contact and expand customer base. CRM also enables spreading any important message on real time basis through social media.
2. Enabling Customer Retention
As per a recent survey, CRM has improved customer retention by 27%. CRM helps marketers to know their customers, who they are and what they dream about. Marketers and sales people can keep their relationship intact with their customers through the customer data which is available in the CRM. As all data regarding customers is available online, a personal relationship can be maintained easily.
Today’s market is extremely competitive and hence just getting new customers is not enough. You need to have a loyal customer base to sustain your business through years. But how to retain customers? Each customer is unique and hence there is a special strategy for retention of each customer. MS CRM developers maintain relevant data on the purchases made by customer and also their behavior.
Marketers can frame specific strategies for every customer using the data maintained in CRM. New CRM techniques also help marketers differentiate between suspicious and genuine customers. Customers are consistently provided the same level of service, depending on the available CRM data.
3. Maintaining Cloud Database
Most of the top technological companies, like Microsoft estimate that by 2017 70% of CRM will become cloud based. So how online data storage help in better marketing of products. Cloud based CRM comes with numerous benefits, like utmost information security, easy data access and cost effective.
Cloud based CRM can be easily and quickly integrated with other software and systems of the organization. This means marketers can utilize CRM data to promote products and services through advertisements, cross channels and media. They can easily provide customer data to other departments. Another benefit of cloud based CRM is, customer data is available anytime, anywhere; ensuring instant solution to customer related issues.
4. Analyzing Real-time Data
Predictive analysis enables companies to offer real time discounts and offers to customers. How? CRM stores real time and historic data regarding the type of purchases customers have made or are making and based on these, businesses offers special discounts on products. If irrelevant discounts are provided to customers this may erode the relationship between the customers and the businesses. Hence most of the loyalty based programs these days are based on the CRM based data, so that the discounts are relevant and compelling to each customer’s and they are more interested to identify themselves amongst the crowd through their purchases.
5. Create a Seamless Experience
Users are frequently changing electronic devices these days; from computers to smartphones. Shopping is now a days more an on the go activity than visiting brick and mortar shops. New CRM techniques enable marketers to integrate CRM data with these devices; providing important communication, collection of data and for sending push notifications to customers anytime, anywhere.
6. Identifying Valuable Customers
It is important to know which customer has more contribution in your profits and the recent CRM techniques focuses on this aspect as well. CRM helps to identify the most valuable customer by tracking their share of wallet, approximate transaction value month on month, frequency of visits to the website or shops, etc. Marketers can arrange toll free numbers, memberships and separate URLs for these premium customers.
So in gist, advanced CRM techniques can
- Collect and store personal data
- Allocate customer-based resources
- Send regular updates to customers and
- Determine purchase patterns.
- Provide more value to customers.
CRM can do wonders. Marketers are not yet aware of the true potential of Customer Relationship Management tool. Using right CRM techniques can build an unbreakable relationship between customers and businesses.