How to enhance your CRM
The biggest key aspect to the success of a business is a satisfied customer. For this reason, in recent years there has been growing trend of focusing on the customer and their needs. Most people think of a CRM (customer relationship management) as just a system that captures some information about your customers. However, that is only part of the picture. CRM uses technology to gather the intelligence you need to provide improved support and services to your customers. In other words, it is how you use that information to better meet the needs of your existing customers and identify new customers, resulting in higher profits for you.
CRM software is a core part of any organization and companies are spending thousands and hundreds of thousands on it. However getting an ROI on this investment can be quite a slow process. So, how do you maximize your ROI and enhance your CRM strategy? Below, we’ve outlined some tips on how to enhance your CRM.
1. Use it in multiple departments
Most businesses have a CRM system but do not use it to its full capacity. The best CRM strategy that you can have is one that not only helps one particular department, i.e., sales – achieve its goals, but one that is truly inter-departmental.
One of the benefits of CRM software is that you can track a potential customer right from the first moment they to your blog or newsletter to the moment they become a fully-fledged paying customer. Therefore marketing will benefit from the system just as much as sales. From social media campaigns to email workflows, these insights will help inform marketing when the best times are to post content, to reach out to contacts, and to hand-off the lead to the sales department. Having access to CRM data can even benefit the R&D department, as it could help them figure out the next product or upgrade that should be brought to market.
2. Integration with call recording software
integrating your CRM system with a call recording solution can dramatically improve what data you gather and how you can exploit it. Phone calls are still the number one way customers interact with a brand, so ensuring you have easy access to phone calls and data gathered from them should be a number one priority. With recordings you have insights into your customers and the information can be used in a variety of ways such as market research, quality control, employee evaluation and training etc.
3. Speech and Data Analytics
IF you have your CRM integrated with a call recording solution, the next step is analyzing and using the information from those calls. With speech analytics you can transcribe audio into text and then, analyze the content of the transcribed text. With this system, you can detect and analyze patterns, keywords of interest, etc. You can read a more in depth article on the importance of speech analytics here.
Doing an in-depth analysis of the data and information gathered with Speech Analytics, we can gain a better understanding of our customers preferences, concerns, opinions on customer service team, etc, and use this information to improve the customer experience. According to research by Dun & Bradstreet, 91% of data in CRM systems is incomplete, 18% is duplicated, and 70% is rendered stale each year. By combining Speech Analytics software with your CRM you can organize and complete this data and automatically gain large volumes of important information.
4. Artifical Intelligence and personalization
Traditionally, CRM’s have been used as information repositories, however with artificial intelligence CRM’s could be capable of generating targeted recommendations for sales people, for example, prompting relevant marketing and sales collateral at specific times. It could also be used to target certain clients and recommend specific products or sending email offers that are related to items previously purchased by a consumer. Customers want to feel valued, so the more personalized approach the better, for example, following up on a customer’s experience and keeping track of important dates in your relationship with the customer is one way of guaranteeing a positive experience. Artificial Intelligence offers companies the opportunity to greatly improve their relationship with customers and can therefore greatly improve client retention.
5. Integration with social media
It is imperative that your CRM integrates with your brands social media, research has shown that social media can have an influence on whether or not an prospective client purchases, with SproutSocial showing that over 50% of customers. Not only this, but social media offers valuable data on how a brand is perceived, people regularly post to social media to complain and compliment to brands. If you don’t have your CRM system integrated with social media, you will miss out on large amounts of valuable data and information about how your brand is perceived online.
Recordia seamlessly integrates with Salesforce and Microsoft Dynamics, enriching the powerful database with the data and information it gathers. With Recordia, your sales team can automatically log phone call recordings, emails, SMS, faxes, and other interactions and they can retrieve and analyze these later, which increases the ability to exploit data and also simplifies the search process in the CRM. All data is synched to your CRM in real time and without taking up or consuming your storage space.