Big Data; a driving force for large organisations, when leveraged by a CRM can result in massive returns. The immense data churned out on a daily basis is a valuable asset that can be used to modulate Business processes. Big Data has a big hand in strengthening the major processes of sales and customer service and a cloud based CRM system works to make this possible.
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The main goal of the CRM-Big Data Relationship is to enable accurate customer behaviour predictions and empower Businesses to make data-driven decisions. Demographics forms the major chunk of Customer Big Data that CRMs utilise and work with.
Big Data is everywhere and grows by the hour. A CRM captures this data and processes it in a way that helps Businesses scale up and achieve higher levels of productivity. The Big Data-CRM Alliance is a genius Marketing move that rains down leads and enhances quality of customer service offered. Below are a few reasons that explain how CRM collaboration with Big Data can be hugely beneficial for your organisation:
Knowing your Customer from the inside out:
The importance of familiarising yourself with in-depth customer behaviour can’t be stressed enough. If you desire highly targeted marketing, knowing your customers takes you halfway there. CRM integrated with Big Data raises awareness regarding brand perception among customer base. Equipped with this crucial information, you can improve your marketing strategies accordingly.
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The Power of Predictive Modelling:
Predictive Modelling becomes possible when CRMs use Big Data to make powerful predictions regarding future customer behaviour based on customer demographics and past buying history. When Predictive Modelling comes into processes, marketing efficiency becomes far more concentrated than before.
Product and Service Modification:
Big Data offers valuable insights into performance of existing services and products. Based on this information, organisations can change or improve their offerings in a way that it has higher demand in the market. You can also create new products based on tastes of customers and improve your chances of higher sales.
Obtain accurate Metrics:
When Big Data Technology isn’t backing performance, metrics obtained are less accurate and cannot contribute to achieving higher returns. Big Data gives you more accurate performance metrics that helps with fine-tuning marketing campaigns.
Harnessing Structured and Unstructured Data:
CRMs harness structured as well as unstructured customer data and analyse them to take processes to the next level. Structured Data include Contact Information, Addresses, website visits, click-through and bounce rates. Unstructured Data include Emails, Tweets, Social Posts, and Comments.
One Word – ‘Benchmarking’:
Benchmarking in terms of Big Data and CRM essentially refers to performance and progress tracking; a process that’s vital to help Businesses understand problem areas in processes that slows down growth. Benchmarking is done on metrics like customer satisfaction rating, cost-per-call, revenue-per-call, etc.
Big Data and Cloud Based CRM Systems go hand-in-hand. One influences the other to produce big results for companies. It helps you achieve a level of personalisation in all aspects of your Business that’s highly agreeable with customers. To make yourself seen and heard in an otherwise crowded market, this union is imperative.
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