It is a common misconception that ‘more data’ is what marketer needs at the moment. In fact, it is the other way round. One of the main areas of focus is how to turn the current data into actionable insights. For quite a few marketing teams, the answer lies in their CRM.
There was a time when we used to consider CRM software as an expensive affair. But with the changing dynamics of the market, the CRM solution is increasingly becoming viable for every company, industry vertical and also small and medium enterprises (SMEs).
Recently, research firm Gartner had predicted that the revenue of CRM software will successfully touch $36 billion by the year 2017, witnessing jump from $23.9 billion this year.
Let us take a close look at few of the steps through which the marketers could easily capitalize on a CRMin today’s tough cut throat competition –
- Offering customized messages to potential and existing clients
A recent study claimed that in 2014, just 38% of the marketers are in a position to make a differentiation between the prospective clients and current clients. This display the growing number of opportunities companies are missing out on routine basis.
It has been proved that CRM targeted at advertising initiatives has the potential to bring dramatic improvement in campaigns. Many entertainment and retail advertisers who took up this approach has witnessed almost 100% jump in their leads as compared to the average ad performance.
Yes, CRM tool is an excellent one to help connect/ talk to your targeted audiences but at the same time, it can be efficiently used as a listening tool as well. It helps the organizations to better understand the behavioral trends of clients, which later helps in identifying opportunities to upsell the satisfied clients or even reach out to those clients who are planning to discontinue your products/services.
- Searching/tapping of new clients by finding out more about your current clientele
It is believed that once you have been able to develop a comprehensive understanding of your clients, it becomes easier to identify the similar trends among other prospects and later bring them on board. Many companies have witnessed about 40-50% jump in order conversions via through this approach.
But, as this approach is still new to the market, many marketers are lagging behind in it.
- Impacting client interactions in real time
It has been found that CRM data enjoys the potential to consistently influence interactions carried out in real time. The best part is that it works and integrates well with the old fashioned events such as phone calls and store visits as well.
When a client service representative is discussing any client’s grievances, real time analytics offer options that helps in peacefully resolving the matter for instance, is there a particular offer that is specific to any particular situation?
‘Real time’ is creating huge wave in the market, primarily for brands and retail industry. As per the 2014 CRM/Unified Commerce Benchmark Survey, currently just 22% of the retailers ate using real-time analytics and approximately 60% plan to implement it in the coming two years.
If this solution is implemented, it is guaranteed that it will be offering a personalized approach for the clients, across all channels, be it online or offline.
It is high time for players across different industry verticals to rapidly adopt CRM in their day to day activities, so that they are able to drive growth and profit both.
There was a time when we used to consider CRM software as an expensive affair. But with the changing dynamics of the market, the CRM solution is increasingly becoming viable for every company, industry vertical and also small and medium enterprises (SMEs).
Let us take a close look at few of the steps through which the marketers could easily capitalize on a CRMin today’s tough cut throat competition –
- Offering customized messages to potential and existing clients
A recent study claimed that in 2014, just 38% of the marketers are in a position to make a differentiation between the prospective clients and current clients. This display the growing number of opportunities companies are missing out on routine basis.
It has been proved that CRM targeted at advertising initiatives has the potential to bring dramatic improvement in campaigns. Many entertainment and retail advertisers who took up this approach has witnessed almost 100% jump in their leads as compared to the average ad performance.
Yes, CRM tool is an excellent one to help connect/ talk to your targeted audiences but at the same time, it can be efficiently used as a listening tool as well. It helps the organizations to better understand the behavioral trends of clients, which later helps in identifying opportunities to upsell the satisfied clients or even reach out to those clients who are planning to discontinue your products/services.
- Searching/tapping of new clients by finding out more about your current clientele
It is believed that once you have been able to develop a comprehensive understanding of your clients, it becomes easier to identify the similar trends among other prospects and later bring them on board. Many companies have witnessed about 40-50% jump in order conversions via through this approach.
But, as this approach is still new to the market, many marketers are lagging behind in it.
- Impacting client interactions in real time
It has been found that CRM data enjoys the potential to consistently influence interactions carried out in real time. The best part is that it works and integrates well with the old fashioned events such as phone calls and store visits as well.
When a client service representative is discussing any client’s grievances, real time analytics offer options that helps in peacefully resolving the matter for instance, is there a particular offer that is specific to any particular situation?
‘Real time’ is creating huge wave in the market, primarily for brands and retail industry. As per the 2014 CRM/Unified Commerce Benchmark Survey, currently just 22% of the retailers ate using real-time analytics and approximately 60% plan to implement it in the coming two years.
If this solution is implemented, it is guaranteed that it will be offering a personalized approach for the clients, across all channels, be it online or offline.
It is high time for players across different industry verticals to rapidly adopt CRM in their day to day activities, so that they are able to drive growth and profit both.
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