How to Grow Your Business With Analytical CRM Tools

Saphyte Team

4 min read

Updated: November 30th, 2020

Analytical CRM tools are helpful in improving your business flows and interactions with leads and customers. They are a “must-have” in several industries as they have been known to eliminate manual processes, make workflows a lot easier and smoother, and cut costs to achieve business efficiency.

CRM solutions are observed to have a growing use. According to a study, the global mobile customer relationship management (CRM) market will grow by 11%, valued at $15 billion in 2019. CRM revenues are also expected to reach over $80 billion by 2025.

But the question is, how can you grow your business using analytical CRM tools?

What are Analytical CRM Tools

Analytical CRM tools are features in a CRM software that allows you to analyze data automatically. The system will interpret the data for you— for example, if you want to perform lead scoring (i.e. assigning numbers to leads based on their tendencies or potential of converting into a customer), a CRM that allows lead scoring will automatically assign numbers on a particular lead by assessing his behavior (e.g. opening an email, working for a particular company, having a sales position, etc.).

Analytical CRM tools can also perform sales forecasting, sales pipeline, and deals management, among others, to help users analyze the ongoing transactions between the business and its leads and customers.

In short, analytical CRM is a type of solution that uses intelligence technology to collect company data, store it, and analyze it to help you gain more understanding of the status of your business. This technology helps improve your business operations and team collaboration, as well as your customer interaction.

How Can You Grow with Analytical CRM Tools

• Analytical CRMs Cut Down Costs

Sure you’ll be paying for subscriptions, but the benefits are enormous. Let’s start with the time, energy, or even the manpower costs saved when you use CRMs to automate tasks that are crucial in building meaningful business relationships with leads and customers.

Because, look, If you are still running your business in a traditional sense (without using CRM), your employees will be bombarded with repetitive tasks (not to mention, every day) which will require a lot of time and effort. Your employees will become too busy dealing with menial jobs instead of finding creative, strategic, and effective ways to increase sales— which is something far more important. 

With CRM systems, your employees will be able to do more meaningful work. All the data processed are also guaranteed to have an accurate output (since computers are prone to less errors compared to humans). 

But are they costly? Apparently not— most CRMs charge per user, ranging from $12 a month to $300 a month. With proper use, the return on investment is high when you use this technology.

According to research, CRM use offers at least 120% ROI after a month of use. That means the growth in profit after using the software may absorb the expenses of using the CRM. 

A word of advice, though: the user must implement the best practices of the CRM to maximize its use. That’s why a CRM solutions provider like Saphyte, is best for you. We offer local, dedicated one-on-one support to our new users.

• They Make Your Sales Team Be More Productive

Sales is an important aspect in businesses. It determines whether or not a business can continue running in the next few months to come. That’s why when looking to use a CRM, you should check out its sales management features. 

Sales management tools let you collect data about potential customers and monitor them on features like sales dashboards and reports. With an analytical software, you will get an instant overview of business performance.

Sales management tools also let you answer questions like, “are we getting more leads?”, “is our marketing strategy working?”, among others.

Being able to evaluate your business performance and keep track of your market position are two important sales tasks. With an analytical software, you will get a constant visual reminder of your sales targets which may push your team to strive more and perform better for the growth of the company.

Online analytical processing systems also enable you to gather data and analyze them so you can make sound, data-driven decisions for the company. This lets you avoid business pitfalls and mistakes. 

With Saphyte’s sales intelligence feature, you will be able to collect lead and customer data, contact information, and other relevant data that your business needs. The system will then help you analyze and identify trends so you can figure out your next course of action.

Moreover, according to research, most sales teams’ time are used for manual data entry. It consumes a lot of time— here, sales reps could reallocate their saved time to performing other tasks such as reaching out to potential clients and making lucrative business deals.

No more manual computations and analysis as the system can also automatically process analytics and make reports— which overall reduce your need for manual data entry and data processing. There are also charts that you can use for visual representation of data.

• Improves Customer Relationship and Customer Retention

CRMs have been proven to improve customer relationships. Taking care of your customers is a must, because, without them, you will not have sales— and sales are what keeps your business running. The profit you derive from sales is what will be used to pay your employees, buy your raw materials, pay for utilities, etc.

What Customer Relationship Management (CRM) solutions do is that they store all of your customer information in one place. It then sorts this information so you can have a breakdown of data. When your data is organized, it helps you have better knowledge about your customers.

CRM also helps improve customer service by empowering sales employees with knowledge. When your customer service is exceptional, the chances of achieving customer satisfaction are high. 

Customer service is so important that even if you have a good product, a bad service can discourage your customers from buying from you again. In fact, according to research, more and more customers are willing to pay high for better service.

• Helps You Position Yourself in the Competition

In the past, businesses usually conduct surveys manually to gather data. They will then make educated guesses to determine the next best course of action with the limited data that they have collected. This can take so much time and effort. And in a competitive and fast-paced world, where data can give you an edge, this kind of method may drag you down.

Using forecasting tools, your sales team can gain more insights as to where they should concentrate their efforts. This would lead them to achieve higher lead conversion rates, without wasting their time and energy on leads that do not convert.

CRM solutions can also show you updates about your marketing campaigns — which lets you know which marketing campaign works and which one doesn’t. With the system, you can also conduct personalized email marketing, email segregation, and other marketing efforts so you can further identify niches and explore opportunities. Overall, this helps with your customer engagement rates too.

Because what motivates your potential customers to become actual customers is when their needs and preferences are catered to. When you have analytical tools that help you direct to whom a marketing campaign should be sent to, the chance of being able to directly address a need is high, making you relevant and valuable to your target customers.

Analytical reports are the best tools that help businesses know about their position in the competition. Through these reports, the business can tell which months your products and services are not selling very well and through analysis, they will be able to determine why. If these reports are organized well and the data gathered are accurate, decision makers will be able to draw helpful conclusions from them. 

Growing with Saphyte

Saphyte is a cloud-based CRM that can help your business with its day-to-day sales process. The software guarantees that your customer base is well taken care of, using its tools and features to improve your customer engagement. 

All the data you need to ensure that you know more about your customers will be in the CRM database. Using its business intelligence features, you will be able to analyze these data (in real-time) wherever they may come from — your website, landing pages, social media, and other marketing channels.

Grow with Saphyte now. Contact our support team for more information.