It is expected by Gartner that CRM software revenues will touch $ 37 billion by the end of 2017. Just imagine the huge volume of customer information available to businesses globally. This large explosion of consumer data has the potential to put you securely in the driver’s seat when it comes to building brand reputation, customizing your marketing campaigns to the tastes and preferences of your consumer and decreasing customer move.
Though this won’t happen on its own. You will require the perception generation prowess of BI to be plugged into your CRM solution. Together CRM and BI analytics can support your organization to discover correlations, which would enable you to find out patterns and trends in consumer data.
How BI and CRM are Driven Modern Marketing?
Big data assist you to do away with obsolete exercise. Exploiting loads of data available from customer communications allows companies to price a product correctly. BI can assist in handling dynamic rate to enhance revenue generation with the use of supplier and real-time inventory and correlate it with business forecasts and consumer behavior analysis.
How CRM can use BI
Effective Customer Care
With the big data available with your organization, you can customize your outreach programs and marketing messages for a supreme potential of success. Using BI, you can trade multi-channel marketing methods. This will help to boost customer engagement, ready to cross-sell/upsell and enhance customer retention.
Better Data = Better BI
Soon the CRM application is synced with a BI solution, you can extract gold-level insights to help your decision-making. If the input CRM data is clean and properly amalgamate, you will be able to create useful and intelligent data. The reverse is also genuine. Therefore, CRM data that is maintained persevering can lead to better actionable and BI insights. This can be accomplished by integrating strict procedure to merge the multiple databases in the CRM application.
Determine what you require
The next phase is to depict where you are, on the CRM- BI planning and deployment metrics. Focus on what supports your business and what effects your customers. You need not be overcome by fancy BI and analytics technologies if they don’t meet your objectives.
For instance, predictive analytics. With CRM data you can add a lot of value to behavioral intelligence and come up with a customized marketing strategy to enhance cross-sell and upsell of products.
Plan and grow
You BI and CRM system integration required to be well-thought of in order to work faultless and deliver expected outcomes. You may have limited budgets or time, but no rushed implementation can give the results you are expecting. Hence the integration requires being a well-planned affair.
CRM application has the power to work with BI and offer you with a 360 -degree view of the client. The only caution you have to take care- just because you have the resources with a bright new CRM-BI solution, don’t go to the utmost and target customers repeatedly in a manner that will put them off your brand forever.