Your customer relationship management (CRM) software can do much more than collect and organize customer data. With advanced CRM techniques and strategies, you can greatly improve your company’s ability to manage and utilize customer data for smarter decision-making and effective marketing strategies.
Wouldn’t it be nice to predict the future? With predictive analytics and sales forecasting through your CRM, you can come pretty close to it.
Predictive analytics involves analyzing customer data and identifying trends or patterns to predict the likelihood of future events like sales or conversion rates. Many businesses use advanced CRM techniques like predictive analytics and forecasting because they bring two major benefits to the table: effective data analysis and smarter business decisions.
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Through predictive analysis efforts, your team can do more than uncover customer data trends. In-depth analysis efforts can help your team gain a better understanding of your customers and their habits. By understanding how your customers interact with your business, you can make informed predictions about their behavior toward future marketing campaigns.
By understanding your customers through advanced CRM techniques and strategies like predictive analytics, your team can make smarter business decisions with confidence and improve your return on investment (ROI).
Predictive analytics and sales forecasting positively impact three major aspects of your business:
Machine learning is a type of artificial intelligence (AI) where applications learn and evolve through experience and the data that’s given to them. Instead of directly programming machine learning systems to work a certain way, machine learning systems teach themselves by analyzing historical data and identifying patterns and trends to make logical decisions, forecasts, and predictions about future data trends.
How can your team use these advanced technologies with your CRM data? Many sales and marketing professionals are already using AI tools for in a variety of ways, including creating customer segments, identifying customer needs, and automating marketing campaigns.
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Machine learning tools can use data analysis to interpret customer data, identify common characteristics among your customers, and use that information to create customer segments.
Customer segmentation is the process of grouping customers based on things like demographics and behaviors. Through this process, your business can better understand the people that make up your audience and tailor marketing campaigns to those specific segments. Doing so can lead to more effective campaigns that convert more leads and improve your ROI.
In the process of creating your customer segments with your machine learning system, you can also uncover customer needs and pain points. By identifying customer needs through machine learning, your team can optimize campaigns and the products and services you offer to increase customer satisfaction.
With the data you collect from your machine learning tools, you can use your CRM’s automation tools to create drip sequences. Drip sequences are automated email marketing campaigns that are triggered by different criteria.
For example, if your machine learning tool helped you to identify that your website’s blog pulls in a lot of subscribers, you can set up a drip campaign that automatically triggers emails when someone new subscribes to your blog.
A 360-degree view of your customer gives your business a more comprehensive understanding of who your customers are. From basic characteristics like demographics to online behaviors, you can view your customer in a new light that can improve your marketing efforts.
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Getting a 360-degree view of your customer starts with collecting data. There are two major ways you can do this:
With your CRM reporting features, analyze your customer data by looking for patterns and trends. Are your campaigns more successful with specific demographics? Do you notice certain platforms that customers are more active on? Look for key insights within your data that can help you make informed decisions about your future campaigns.
Below are just a few of the benefits your business can enjoy when your get a 360-degree view of your customer:
You don’t want to stare at endless pages of data, do you? With advanced data visualization and reporting, you can make data analysis easy. Data visualization is exactly what it sounds like: Visually representing your data so it’s easier to understand and interpret.
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There are a variety of different ways to visualize your customer data. The visualization method you choose depends on the data you’re trying to represent. Below are just a few examples of methods of data visualization:
Besides making data analysis easier, advanced data visualization makes spotting patterns and trends easier. Looking at numbers is one thing, but being able to see growth through bar graphs and spot outliers through histograms or scatter plots? That’s a game-changer.
Additionally, advanced data visualization and reporting tools in your CRM allow you to identify new areas of opportunity for sales and marketing efforts. When it’s easier to spot trends and outliers in your data, you can more quickly spot areas where you can amplify your marketing campaigns and expand your sales efforts.
Nutshell CRM offers the tools you need to start using the advanced CRM techniques and strategies we just outlined. From reporting features to automated email campaigns and drip sequences, Nutshell is an all-in-one CRM system that can help you use advanced CRM techniques that bring positive results to your business.
Learn more about what Nutshell can do for you by contacting us online or starting a free trial today.
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