The sales of Acme solutions has been falling down like a bungee jumper at Victoria Falls, with the management having no idea why. Plus, they were unable to get clear visibility on whether their business was achieving its purpose.
You need data in the form of understandable formats for
- Making intelligent marketing decisions
- Customer footfalls in your digital and offline presence.
- Find out the return on investments (ROI) for your campaigns.
- Drill down reports in targets achieved, future trends etc
- Get dynamic reports instead of plain static ones.
Analytics for growth
Analytics in CRM solutions help you to make sense of raw big data. When you take the full advantage of analytics, you will slowly notice productivity and efficiency increase in your business, especially in marketing and customer contact centers. It helps to quickly make sense of your sales, service and marketing operations at a glance.
CRM analytics can help you decide on forward-looking paths, for example, in deciding your next major process or product investments, and how to optimize your process framework for even more tangible inefficiencies. Here are the three main awesome benefits of incorporating analytics into your business decisions.
Business benchmarking is the ability to decide and determine how well you're or are not performing as compared to your peers in your industry. Analytics in CRM software makes it possible to compare in key metrics and indicators like customer satisfaction, retention, total cost per client service call . You can visualize the operational areas which you are lagging behind and bring them up to industry standards.
Analytics gives meaningful insights for executives that makes them aware of anamolies in your business. Benchmarking also gives you a comprehensive view of key figures across company divisions.
#2 Predictive Modeling
Through analytics, you get business intelligence (BI), that helps you to forecast how your existing clients will engage (or run away) based on their past interactions across all channels. Their demographics, income profile etc. are also taken into account. It can also aid you to specially focus on customer retention to boost loyalty and brand goodwill. With the help of predictive analytics, business leaders can get total transparency with a real-time view of future company situations.
#3 Better Customer Understanding
By dissecting the minute details from analytical reports from all touch-points like call center, Web, email and social media, you can segregate customers as per their purchase behavior. This allows you to distinguish your best clients for exclusive treatment in order to maximize their life-cycle value.
Customer’s activities and trends can be extracted from a wide range of information and used to managing product showcasing efforts and campaign promotions.
Awesome analytics in short helps to build a longer and more gainful relationship between your business and customers.