In today’s day in age, it takes more to keep a customer happy than by simply being nice to them. You will need more than a smile and if that is your only option, no need to fear. Customer Relationship Management software, commonly referred to as CRM, helps improve the customer service experience with specific modules in marketing, sales and another avenue that isn’t discussed as often, analytics.
CRM software gives users a birds eye view over your entire business, from your customer base to your marketing efforts and sales.
In order to know exactly how well your business is doing, knowing the specifics in terms of numbers will give a business a perfect idea of where they are doing well and areas that need improvement.
CRM analytics is a series of processes that capture and analyze customer data and present the findings in the form of different, easy to read documents. CRM analytics helps make better, customer-conscious business decisions.
Analytics are important to know for all business, no matter the industry type or size however, having numbers and statistics are especially helpful for larger businesses. Typically the larger the size, the more information a business will have to sift through on a daily business. That makes it easier to make costly mistakes.
How Can CRM Analytics Help a Business
Provide Website Analytics
Outside of brick and mortar stores, a business’s greatest asset is their website. Online shopping has become increasingly popular overtime with no signs of slowing down, so the upkeep of a website is crucial. With these analytics, you can find out how often you have website visitors, what site pages are the most popular and what to do about pages that do not receive a lot of traffic.
Businesses should be aware of their most popular services and products. Analytics will provide statistics on what is purchased the most so you can ensure that inventory is always satisfactory and you can find additional ways to promote those products. On the flip side, you can find ways to promote services/products that aren’t as popular.
Knowing customer analytics gives you the opportunity to break your customers into groups based on age, gender and spending habits, among other attributes that they may share. Within these smaller groups, becomes easier to market and sell.
Benefits of CRM Analytics
Knowing important business information based off of analytical reporting can help build your business up and move things in a positive direction. Here are some benefits that you may begin to see with the usage of CRM analytics:
Increase in Sales
Knowing the ins and outs of your business, what products are most popular, what sells out quickly, etc.. allows business owners ways to continue to encourage sales and develop creative marketing campaigns for lower selling items.
Improved Customer Service
Analytics will also provide insight into your customer service actions. Using the information to learn about your response rates, how to improve or maintain it and what to do to keep your customers happy.
Better Understanding of Your Business
Overall, analytics provide you with a true understanding of where your business is, which allows you to grow from your starting point. Understanding where the business thrives and suffers gives you all the ammo you need to build a stronger base so that both customers and the business are happy and feel supported.