Let's Talk
What is CRM data and why is it important?
CRM refers to the system a business uses to manage and analyze its contacts and relationships with customers. Information such as the customer's personal details, purchase history, preferences and points of contact with the business are just some of the data you can collect from CRM.
This data is the treasure of modern businesses because it enables businesses to understand in depth what each customer wants and is looking for. In addition, thanks to them, a business can adapt its offers and services according to the needs of each person, thus increasing the likelihood that the customer will be satisfied and come back for further purchases.
How can you collect data from your CRM?
CRM data is collected and stored through various channels, such as the business website, social media, emails, phone contacts and other communication sources. The ideal CRM system should be able to gather and analyze all this data in an efficient manner, to provide as much information as possible to the business.
This data is not just information stored on a hard drive, it is the key to developing long-term and profitable relationships with your customers.
How to increase sales with data from CRM?
After analyzing the importance of CRM data, it's time to see in practice how it can be useful in increasing your sales.
Analysis of customers to adjust offers and sales promotion
As mentioned above, CRM data can give you a detailed picture of your customers. This knowledge can be used to tailor offers to each customer's needs and wants.
This means that instead of promoting generic offers or products to all customers, you can with a person-centered approach based on the preferences and interaction history of each customer, create a personalized strategy.
Identifying and exploiting new market opportunities
Analyzing CRM data can help identify new market opportunities. This may mean discovering new market trends, identifying growing customer communities, or detecting changes in customer behavior that may create new sales opportunities.
Improving customer service and increasing customer loyalty
In addition, thanks to CRM data you can improve your customer service, offering a more personalized and pleasant experience. This can lead to increased customer loyalty, reducing the likelihood of customers leaving your business.
How CRM data can reduce churn rate
Identifying difficult cases
By using CRM data, you can more easily identify customers who are likely to leave your business so that you can take action to keep them. Read the data properly and recognize the signs that indicate an increased likelihood of churn. Negative feedback or a decrease in a customer's activity are just some of the signs that increase the likelihood.
Provide efficient customer service to prevent churn
It is important to ensure that your customers are satisfied with their products and their overall experience. With the data in your CRM, you can understand your customers' needs and preferences and provide high-quality customer service.
Analysis of reasons for abandonment for continuous improvement
By understanding the reasons why customers leave your business, you can improve your services and adapt them to their needs. Simply filling out a form that will ask your customers the reasons for abandonment, is valuable data that you can analyze and make the necessary changes so that in the future you have less losses.
Creation of customer loyalty programs
Customer loyalty programs are a great way to encourage customers to stay loyal to our business. CRM data can help understand what customers value most and design customer loyalty programs that will attract them. Think of it as a small reward and appreciation for the loyalty they show to your brand.
Practical tips for using CRM data
Take advantage of the comprehensive view of customers
The value of CRM data is greatly increased when it is used to create a complete picture of each customer. Don't overlook any element of his behavior, preferences and background.
Regularly review and update CRM data
CRM data can change over time. Maintaining up-to-date data is essential to ensure you rely on accurate and up-to-date information for decision-making.
Train your staff to use CRM data effectively
To be able to take full advantage of all this data, you need to have the right people handling it. Train your staff to ensure they understand how to use CRM data to improve customer interactions and produce better results.
Use analytical tools to extract additional value from CRM data
Data analysis can reveal new opportunities or challenges that are not obvious with a simple overview. Use analytics tools to maximize their value.
Summarizing
Ultimately, CRM data is nothing more than a great tool with which you can deeply understand your customers and make more personalized, effective approaches.
Read correctly, CRM data can be the basis for building a new and stronger bond with each individual customer. The result of the proper use of all this information will be an increase in sales and a decrease in the churn rate.
Prepare for the future with the help of Wizard
But like any technology, CRMs continue to evolve. To stay on top of all the opportunities that may present themselves, you need to have a partner who can fit your CRM into your business philosophy. At Wizard, we have the right people who can make your CRM the key element of your success and thus gain a competitive advantage in the Greek market.
Contact us and let's find new ways to take advantage of data to take your business to new levels of success and achieve the goals you have set.
