Customer loyalty is a key driver of profitability in the age of industry consolidation. Acquiring, growing, and retaining profitable customer relationships will sustain your company’s competitive edge. Today’s Customer Relationship Management (CRM) software has stepped up to provide corporations with a 360-degree view of their customers, enabling them to interact on a personal level and maximize the profitability of the relationship. Here are five CRM trends to watch as today’s CRM solutions evolve to better leverage data analytics to boost sales, streamline processes, and deliver engaging, personalized customer experiences. Delivering Targeted ContentWe live in the age of information overload in which content blindness is very real. Businesses are adapting to this new reality by changing the approach to sharing information. CRM enables businesses to display content in a contextual manner. For example, marketers can deliver targeted content to customers based on where they stand in the buying cycle. By personalizing the content based on the individual’s unique profile, brands are finding that their content is up to four times more effective than the traditional campaign approach. Tracking Mobile Users' MovementsThough still in its infancy, geo-location technology enables marketers to track the movements of customers via mobile phone signals. CRM software works hand in hand with mobile technology to identify patterns and deliver relevant content via a beacon that sends push notifications based on a customer's specific location. The ability to track a person's physical movements adds a new dimension to data analytics. Retailers, for instance, can now see which customers have visited their stores more than once, which paths they follow in and around the stores, and send targeted notifications based on their behavior. Offering a Better Experience for CustomersThe customer journey has evolved into a series of micro-moments. Ideally, each one of these micro-moments should be a positive, meaningful interaction between a customer and the brand. Sharing knowledge and engaging with customers through every step of this journey is how today’s brands increase loyalty levels. CRMs offer the means to create these seamless customer experiences because they hide tedious transactional points and promote personalized interaction. Addressing the Needs of Each CustomerBy personalizing their approach to customer interactions, companies can engage with their customers more often and more meaningfully. CRMs provide the customer insights that can then be used to deliver tailored, proactive services that makes customers feel valued. According to CRMTrends.com, the key to developing a successful new customer experience is to develop a response to a customer need that is unique, compelling, and adoptable. A response so attractive that customers are willing to change long-standing, often deeply ingrained behavior. Targeting Customers Across ChannelsCorporations can use an omni channel approach to improve their customer experience. This cross-channel business model enables contact with the customer through multiple avenues at the same time. CRM makes it possible to orchestrate these multi-channel engagements while remaining consistent between the channels. At the same time, CRM helps marketers tailor their message for each channel and offers a customized experience based on the channel being used. About AllianceTekAllianceTek helps companies implement strategies unique to their businesses. We employ a global team of more than 100 skilled developers and consultants who approach every project holistically, providing around-the-clock attention to comprehensive, scalable, and extensible development roadmaps. AllianceTek specializes in Salesforce CRM integration, Microsoft Dynamics CRM integration, Siebel CRM integration, Sugar CRM integration or Microsoft Dynamics CRM integration, and, if necessary, can implement a custom CRM development solution.
0 Comments
Savvy companies make the most of their data by creating executive dashboards from within their CRMs instead of allowing their customer relationship management (CRM) software to merely become systems of record. The dynamic, visual format of these customized dashboards allows them to analyze defined criteria for meaningful trends and actionable metrics, leading to faster and better decision-making. Dashboards create and display key performance indicators (KPIs) by combining reports, spreadsheets, or charts into high-level snapshots that provide quick and easy performance evaluations. The business intelligence extracted from CRM business process automation applications discerns patterns, notifications, and other information about a corporation’s customers and their behavior – helping a company better predict and respond to them. An executive dashboard for sales/marketing intelligence within a CRM application such as Salesforce or Microsoft Dynamics might include these top 5 KPIs: # Leads AcquiredOrganizations use different mechanisms to acquire and quantify leads. By using a dashboard approach, the CRM application provides the data in a way that everyone can understand and interpret when determining if they have met their goals. Lead Acquisition CostsOnce you know how many leads you have, you can calculate the cost of generating leads by dividing the number of leads by the number of leads who took some form of action. The cost of the hours and tasks completed to obtain leads provides essential data to calculate the lead acquisition costs. # Leads Followed UpBecause leads have a short shelf life, it is crucial to follow up as soon as possible. There are many ways a company can follow up with leads, but each method means keeping track of the initial contact and then how many times a business rep has made contact. Closing RatiosCompanies with sales funnels involving more than a single product or service need to track each step of the funnel. This includes tracking the number of leads contacted against the number of leads that closed. Social Media MetricsToday’s organizations spend significant resources to measure the number of likes, comments, and shares. Analytics also track from which sites the traffic originates, and, if possible, what sites visitors view when they leave, presenting new advertising opportunities. About AllianceTekAllianceTek specializes in developing custom business intelligence solutions that are uniquely fitted to your business architecture and seamlessly integrate with your existing business operations. Our custom software development cycle is a step-by-step process where every step builds on another. We use an agile development process to ensure that successful software is built with the right architecture and that no problems occur within the development process. This iterative development cycle helps us to evolve each feature of the project and increase work quality. |