Using data obtained through CRM analytics to make more assertive decisions and drive business is an essential strategy for the success of a company. But first, do you know what a CRM is and what it’s used for?
CRM is an acronym for Customer Relationship Management. It is a strategy used by companies to optimise the organisation of all their contacts and prospects.
According to LinkedIn sales research, 44% of employees of medium-sized companies use a CRM tool, compared to just 27% of large companies, which shows there is still a lot of work to do when it comes to process and service optimisation.
In order to show the importance of tracking data to make better decisions and achieve greater results, we have listed the main advantages of this process.
6 advantages of CRM analytics
1. Organisation of data from the marketing and sales teams
A well-structured marketing process makes it possible for leads to be qualified before they reach the sales team in order to optimise time and improve business opportunities. With a CRM tool, data is better organised and all teams can operate in an integrated manner, avoiding mismatching of information.
2. A more streamlined service
Existing and future customers highly value agility and efficiency. Therefore, ensuring that their expectations are met is essential to successful sales.
Since CRM software makes it possible to centralise all data in one place, the service is optimised and the consultant gains a better understanding of the issues faced by his or her leads and how to handle each one.
3. Conversion optimisation
CRM analytics makes it possible to carefully examine all data on the company's leads, especially when identifying which stage the contacts are at in the sales funnel. Therefore, it is possible to guide them through their respective journeys and to create specific strategies for each of them, thus increasing the chances of conversion and retention.
Further reading: Top CRM benefits for sales and support teams
4. Reducing the CAC (Customer Acquisition Cost)
The CAC can be reduced significantly through the use of CRM software which allows companies to adopt more accurate strategies, both in prospecting and in attracting leads. This means that marketing resources can be allocated to the right lead at the right time, resulting in savings for the company.
5. More assertiveness in decision making
Decisions taken based on data are much more assertive than those taken based on “hunches”. With CRM, team leaders will be able to analyse the information provided by the tool and compare reports, data, and spreadsheets in order to make informed decisions to ensure business growth.
6. Achieving customer loyalty
A Customer Relationship Management solution is also important for customer retention and loyalty, since it helps to build a relationship with the client.. By being clear about the timing of each of the leads and their needs and demands, it is possible to be more assertive in communicating with them, thus increasing the chances of conversion and eventual loyalty.
How to conduct a proper CRM analysis?
When having a CRM software at your disposal that collects and organises all your data, at first you may be unsure about how to begin your analysis.
Therefore, keeping a few steps in mind might be helpful to you:
- Define what you wish to find: establish what information is most relevant to your business strategy and list everything that you need to find in the tool. Consider this process as a “map” to help you know where you want to go:
- Organise information: with the map in hand, it will be much easier to start the data collection and organisation process. Your CRM analysis can be segmented by customer profiles, acquisition channels, sales funnel stages, and conversion rates, among others. Also remember to standardise the information periods in order to conduct a comparative analysis of the data (such as by week, month, quarter, etc.);
- Qualitative and quantitative analysis: finally, the next step is to actually analyse the information. It is important for this process to be done both qualitatively — customer profiles, for example — and quantitatively, as a comparison of conversion rates. This type of survey is one of the main advantages of CRM analytics since all the information is available in one place.
Therefore, choosing the right software is essential for you to optimise your sales strategy and boost your conversions through data analysis for decision making. A CRM solution will allow you to organise all your customers' information, integrate different areas of the company, and streamline processes.
Zendesk Sell is a sales CRM that provides all of these solutions and can be used throughout the entire flow, from prospecting to support during post-sales services. By using this tool, it is possible to structure your entire strategy, conduct tests, monitor results, and optimise the entire process.