How CRM Analytics Work

Preamble

  • CRM analytics tells you whether or not your customers are reached by the sales and customer service team and provides you a better understanding of your customers
  • They enable you to understand the behaviors of your customers and the success rate of your campaign(s)
  • They provide an indication of the success rate of the business. 

This articles was created for any business owner or potential business owner that wants to know how CRM analytics work:  

Meaning of CRM analytics

CRM provides the data that explains the performance of your company and the effectiveness of the customer service. It also gives excellent data on the behavior of your customer so as to facilitate decision making. 

In practice, CRM software is used to get the CRM analytics and make all the processes of data collection easy and effective. 

Importance of CRM analysis

According to renowned entrepreneur and business advisor Alan Safahi, the main benefits of CRM analytics are to make appropriate decisions in regards to your customers and make changes in the area of customer service appropriately. This can be achieved through:

  • Evaluation of customer service: CRM analytics will tell you more about the performance of your customer service. The figures will guide you on how to do that and the right direction to channel it.
  • Precise data on the customer: Irrespective of what you will be using your customer data for, CRM analytics will provide you with accurate data. 
  • Proficient lead generation: CRM analytics will better outline the efforts leading to sales. It enables you to choose the areas to improve on that are leading to sales and to avoid efforts on the areas that are leading to double sales. 

Types of CRM analytics to track

Alan Safahi believes that, although there are many variables that CRM analytics measure, these are the most important ones:

Before sale CRM analytics

Of course, your customers buy from you only after they have learnt about your product. This means that most of the interactions occur even before sales.

  • New leads: The marketing department may likely spend lots of energy sending proposals or calling the prospective customers, therefore tracking such activities will be worthwhile to see which of them leads to a purchase. 
  • Prospects: Check the activities of your sales team with the prospects. 
  • Website engagement: Most of the CRM programs will tell you who visited the website and the activities they performed. These are great data to use to make an informed decision. 

After-sale CRM analytics

  • If you have impressed them and they are buying from you, there is no assurance they will continue to buy. It becomes necessary to get some after-sale information. 
  • Problem tracking: Have proper documentation of what your customers said about your product. If they raised any problem, solve them and this will keep them coming back. 
  • Additional purchases: if you sell them products and they buy some others from you, then it’s an indication that of product correlation that may come in handy for future marketing efforts 

Other Data to Analyze are: 

  • Purchasing patterns
  • Segmentation
  • Spending
  • General project management

Verdicts:

CRM analytics is an efficient strategy to ensure the prosperity of business. It gives reliable data on the success of several efforts and the possible changes and directions to channel them.