5 Critical Areas Where CRM Data Can Help Decision Making

Running a business and making it a success in the long run is a complicated process. So, no matter how large or small your organization is, making informed decisions is important at every stage of business.

A high-impact cloud CRM software provides a single platform, where a comprehensive 360 degree view of all the customers is readily available on a real-time basis. With the help of the existing information about customers, purchase trends etc., business leaders can review and analyze information flow effectively. Decisions that were once made on excel sheets and paper; can be viewed by mangers and team members with the help of dynamic dashboards and reports that are available internally. Moreover, using a commutable cloud CRM software, businesses can accurately identify opportunities and threats. They can also keep close track on competitors’ activities and accordingly make informed business decisions.

5 Critical Areas Where CRM Data Can Help Decision Making

Some common areas where CRM data can help inform decision making include the following:

1) Sales forecasting
Forecasting will help business to identify sales based on multiple parameters like product, geography, units, amount, teams, period, etc. It will help in analyzing, studying and calculating opportunities on the basis of a specified time period.

2) Sales management
CRM software will enable businesses to monitor the performance of the sales team. It will enable top level mangers to see the status of the sales pipeline and also analyze why a particular deal was won or lost. It will also observe individual team member's performance and contribution for achieving the overall sales target.

3) Product planning
Based on the information on competitors, their activities and current market trends businesses can plan out and prepare an effective marketing strategy to improvise products. Also by conducting a market research, they can understand the needs of the audience and develop products accordingly.

4) Customer service
A good CRM software will help in increasing first time resolution rates. It will help the service agents to build better relations with customers by resolving cases, queries and complaints at a faster rate.

5) Marketing campaign planning
With the help of the best cloud CRM software, business can identify which campaign worked in the past, what was the ROI and accordingly plan future campaigns. Also, budgets and expenses can be accurately calculated.

In addition to enabling organizations to monitor the ongoing health and performance of the business, it can also help in automating business processes. Since, most of them have the advanced capability of integrating with multiple Social Media platforms like; Twitter, Facebook, Google Plus and LinkedIn, staying in touch with customers is instant and without bottlenecks. Also, through these networking sites, additional details about the customers can be easily tracked. 

This will help organizations to up sell and cross sell effectively. Furthermore, since most of the customers’ share their experiences on social networking sites, it serves as a good medium for ‘Word of Mouth’ publicity. Service agents can address customer problems quickly via social networking interaction. And, these new channels can be used to provide updates from the company, deliver promotions, and gather feedback.

Be assured that the sophistication of CRM systems can be deployed correctly to help transform your business success beyond that of your competition.