As if businesses today don’t have enough to worry about, they also need to manage large amounts of information and data. “Big Data” refers to the massive amount of information that is now collected from both online and offline resources. Because organic growth in data is seen as necessary for businesses to improve their efficiency, Big Data is essential. It provides the intelligence that companies require in order to make better decisions. BUT, Big Data needs a lot of investment and maintenance, and can be seen as unmanageable by many businesses. So how can companies and businesses get value out of their data without breaking the bank in terms of time or money?
CRM can help businesses to analyze their data in a practical manner, and help them create useful insights, improve their strategy, increase efficiency, and realize their commercial goals.
By analyzing customer information that has been gathered across multiple platforms and channels, CRM tools can turn data into insights, which can then be translated into best business practices. By learning these best practices, customer-facing employees can provide the highest-quality customer service, thereby delivering tangible results.
Studies have shown that customers respond to personalization and individualization from companies. In fact, according to NM Incite, 71% of consumers who experience a quick and effective brand response on social media are likely to recommend that brand to others. Additionally, personalization is important for turning leads into actual sales.
With the proper CRM tools, companies can learn more about their target customer base, and provide more personalized customer service, making Big Data work for them, instead of vice versa.
Big Data is only powerful when it is utilized to its fullest extent. And now businesses can make Big Data meaningful and insightful with the use of CRM. CRM makes data manageable enough to provide important insights, real-time analytics, and personalization of the customer base.
When businesses and companies take advantage of the potential that CRM provides, everyone wins.
