If you think CRM software can only be used to improve sales, think again. Most businesses fail to unleash the full potential of this tool. With a little innovative thinking, you will find much more ways to use CRM to your advantage. CRM software lets you collect, organise, and analyse your customer data. Here are five unconventional ways to use this valuable information.
Predict future purchases
A thorough analysis of your customers’ purchase history may help you predict how many of them are going to buy your products in the next season. You can gain insight into your customers’ buying pattern and predict their possible purchases. The analysis would also help you identify any potential risk of losing customers well in advance. That way, you can prepare for any increase or decrease in your future sales.
Monitor your brand reputation
Building brand reputation is possible in the short-term, but it is even harder to maintain a strong reputation over time as it requires consistent effort. If it keeps fluctuating, you should keep an eye on the variable graph at all times. However, knowing how your customers perceive your brand is not easy. Simplified CRM software such as QuickDesk lets you track customer interactions and monitor customer feedback on social media. This helps you to get a clear picture of your brand reputation on an ongoing basis. With feedback such as comments from existing and potential customers across different platforms, you can improve your audience engagement strategies and drive better results.
Identify customers with the most potential
When you run email campaigns or social media campaigns, you may receive a lot of replies from potential customers. While there may be many people who express interest, not all of them would eventually become customers and make a purchase. If you can identify those who are most likely to buy from your company, you can send them a promotional offer to close the deal sooner. However, how would you identify such customers? Your CRM software can help you do this. By collecting data using your CRM software, you can identify which of your potential customers are more likely to make a purchase. Building a brand loyalty helps the business in the long run.
Collaborate and grow
One common reason many projects fail is the lack of collaboration. If your organisation stores data in different databases, you could be hampering the growth of your company. You should ensure that different departments in your company are linked to each other and all of them have access to your customer data on a centralised platform. For instance, you can allow all departments to access your CRM data so that they have access to the necessary information that can help them make informed decisions quickly.
CRM software allows you to identify potential opportunities to form business development partnerships. Some CRM systems come with features like pipeline reporting and spreadsheet exports. You can use those features to monitor transactions with your customers, vendors, and contractors, and then identify which of these relationships have the potential to become long-term partnerships.