Knowledge of your customers and prospects is vital to build relationships with them and to sell to them. The extensive knowledge that you gain will enable you to develop a marketing strategy that can be laser-targeted at your prospects and customers.
A prime example of this, that is simply done but is extremely effective, is Amazon. Even when you are only viewing a product, Amazon are serving up other suggestions with their “Customers who bought this also bought these other products”, and when you buy something they serve up individualised e-mails suggesting products you might like based on what you have bought previously. This is extremely effective and is a large part of what has made them Amazon a powerful internet shop.
Where to start?
A customer relationship management system (CRM) can be a powerful tool in your marketing armoury. By recording your customer’s product likes and dislikes, their spending patterns and even their location, age and gender, a CRM enables you to build up a detailed picture of their tastes, needs and buying habits.
This in turn allows you to ‘slice and dice’ the information to segment your customers and prospects to allow you to market to them in a personalised way. By funnelling all your company information through a CRM system, you can get an accurate picture of what your customers and prospects want and serve this up to them effectively. If the message – and its timing – is right, you can improve your sales conversion rates considerably.
A good CRM, used properly and effectively, can give the salesperson and management a dashboard of actual progress of where in the sales process a particular prospect or customer is. It can effectively segment your customers and prospects (but only based on the information input into the system) and this structure, if used correctly, can help to increase sales in your business greatly. There are several excellent systems on the market now both based in the cloud (online) and offline (installed locally) that vary in price from a small amount per month for basic functionality for the small business to extremely complex systems designed for enterprise-sized companies.
At Redspire, we think Microsoft Dynamics CRM is the best system to help you grow your sales. Watch us demonstrate why!
Watch this webinar recording now to find how to use Microsoft Dynamics CRM to grow your sales.
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