With thousands of businesses competing to have a share of the market in any particular niche today, building a solid relationship with your customers can be the difference between succeeding and failing. By employing powerful tech like customer relationship management (CRM) tools, you can easily build that good customer rapport you’re yearning for.
CRM technology allows businesses to collect, store, and manage customer information to improve future interactions. These tools identify and monitor the needs of the target audience by studying their shopping activities and other interactions online. With this information, your business can create useful products that consumers love while improving the existing ones to match the changing customer needs.
So how do you use CRM tech to your advantage and turn your prospects into customers? Here are five ways you can leverage the power of technology to grow your online business.
Conduct market research
One of your core goals when running a business is to be able to identify your audience’s problems and needs and consequently find ways to solve them. This is the best way your business can succeed and attract loyal customers that love what you offer.
To do this successfully, you need to conduct thorough market research to help you understand what exactly your target customers want and need. This is where CRM tech comes in.
CRM tools collect crucial information about your prospects including their shopping tastes and preferences. They do this by monitoring and analyzing their online presence, buying patterns, and their activities on the web. With such insights, you can tell exactly what impresses them and their reasons for visiting the market. This informs you of what to say on that all-important first interaction and future communication to stand a chance of converting them into buyers.
Automate data entry
As your business continues to grow, time becomes a rare resource and therefore you need to find ways to save and use it productively. To get the best out of your working days, it’s important for you to automate time-consuming activities like data entry.
Given that this is probably something you need to do every day, having a tool that automates the process will be a welcome addition to your arsenal of tools.
A CRM tool automatically collects prospect data from various sources, organizes it, and stores it in a central location. Some versatile ones even perform additional functions like customer support which encourages prospects to enter your sales pipeline. A good place to start your search for a multipurpose CRM tool that’s also capable of data entry automation is this comparison guide on Hubspot vs Salesforce. Find out what each of these tools offers to help you choose the best CRM for your business.
Your target audience will always comprise people who aren’t in any way interested in your brand or products. Without a way to identify them, you can end up spending too much time or money with very little results to show for it. A smart way to weed out such people is to implement a lead qualification system.
Most CRM software readily facilitates lead qualification which involves sorting out contact lists into relevant categories. These tools allow you to set particular parameters based on the actions and behaviors of prospects. This way, you can easily identify those who appear promising in entering the sales pipeline and those who do not have enough interest in your products and therefore not worth pursuing business.
Improved decision making
Are you struggling to make the right decisions for your business and as a result losing potential and existing customers? The chances are high that you’re either too overwhelmed with information or don’t have enough of it to inform you on the right actions to take.
Most CRMs are able to gather valuable information from many places including social media platforms, your website, and even competitor websites. This gives you access to sufficient consumer data that can prove useful when making decisions for your business.
What’s more, these tools can also share data with reporting and performance forecasting applications. This can prove particularly handy if you’re looking for strategies to boost conversions and growth in your business.
Relying on paperwork to store prospect data is quickly becoming unpopular among most modern businesses. Increased risk of losing records and the lack of a central place to reference data on demand are among the main reasons cited for this trend.
So, how can CRM tech help?
For starters, these tools can collect and store data in cloud that is accessible to all authorized parties on demand. What’s more, you can also give access to other business tools that need this data to this central location. This eliminates the need to manually update your team members or tools every time new data comes in.
What others methods are you using to automate your business’s lead conversion process? We’d love to hear your feedback.