When entering a new industry, promoting a new product or developing a new service, it can take a while to educate customers in the benefits and it can be a while before sales, and the CRM database, start to develop to the levels you are aiming for. Knowing the best products and services for their needs may not be immediately obvious to customers if they haven’t been exposed to them in the past, so marketing and customer care departments need to work closely together to ensure inbound calls are dealt with effectively and in line with the company CRM policy.
Using analytics tools
Increasing sales when the company is building new markets can be assisted immensely by the analytics available from a CRM system; it is going to be difficult to assess how well campaigns are going without some form of customer data analysis.
Higher profits are possible when the sales and marketing strategies used are customer focused and the business knows their customer intimately as a result of the profiles developed using CRM. Whether customers are new and take more getting to know, or they are existing customers buying new products from your catalog, for instance, you can be ahead of the competition because your CRM system provides you with regular reports on customer behavior.
Assessing customer segments
CRM is also invaluable is helping define customer segmentation and defining more accurately which profiles are more likely to buy which product. Business leaders may think they know the answers based on their years of experience, but to avoid nasty surprises it is advisable to use the facts and figures,and the developing trends for the future, provided by a computerized CRM system.
For example, using CRM customers may be defined by the value they provide to the company, and there are different criteria attached here as well as monetary considerations. They may be segmented by behavior, such as the times of year they buy and when repeat orders are made. They may be classified by needs and by how far they have had issues resolved by the company. The analysis and subsequent predictions for the behaviors of these individual customers can be made far more accurately using CRM than by purely manual or potentially subjective methods.
Training for employees
To achieve success in new markets the employees need to buy into the way the organization evolves from previous ways of working to a customer centric business model. Without the active cooperation of the team, there can be little progress.
Staff training to look at why customer focused working is so important for the existing business and for launches into new markets should assist understanding and can in truth create a pleasanter working environment for employees.
When employees feel they have a say in changes made within the operation of the company they tend to be more accepting and feel more able to comment and feedback on how new strategies are progressing. Their comments and suggestions can be invaluable within a customer oriented environment.