Just a heads up: between the birth of humanity and the year 2003, 5 exabytes of data were generated. Today, the same amount of information is created every other day. We have entered the era of Big Data.
Social networks, websites, mobile applications, connected objects, all these technologies that we use on a daily basis are massive sources of data.
This data can be used by companies in all sectors in a variety of ways, including improving customer relationship management.
These customer relationship management software is experiencing strong evolutions. It’s not about using manually populated databases, but connecting to social networks, chatbots, customer services, and so on. Big Data becomes essential for businesses. Similarly, this allows the automation of sales steps.
Big Data and CRM to create new services and products
By combining different data on customer behavior and previous purchases, it is possible to determine their current needs and even predict future demand using predictive analytics technologies.
Thus, companies can rely on Big Data and CRM to create new services and products, or to modify existing products and services to make them more attractive.
Big Data and CRM to develop personalized marketing campaigns
In the same way, as for new product development, CRM can leverage data to segment customers and determine how different segments will respond to marketing campaigns.
Thus, it is possible to use Big Data to create marketing campaigns and personalized advertising. The conversion rate of these targeted ads will be much higher.
Big Data and CRM to improve the brand image
With Big Data, companies can use their CRM to check how their products or even their brands are perceived by customers. For example, it is possible to apply the sentiment analysis technique to data collected on social networks to determine the level of customer satisfaction.
The company will then be able to identify and correct weaknesses by modifying its sales and marketing strategies to improve its brand image. This will strengthen customer retention, and improve the customer experience.
Big Data and CRM to improve the quality of customer service
With Big Data, customer service teams can access more information when interacting with customers. In one click, they are for example able to access all information about the customer and its purchase history.
This improves the efficiency and quality of customer service. As a result, customers will be more satisfied and customer service will save time.
Marketing Automation: a new way to approach customer relationships with Big Data
Marketing Automation is a technology to automate the most repetitive marketing tasks such as sending emails or messages on social networks. The company merely sets the activation conditions for the tasks in question, and the processes are then automated.
This approach is based on Big Data because it is from the many data collected on customers that a profile is created for each one of them. Marketing Automation software then relies on these profiles to segment customers and customize the messages to be sent.
Many solutions include both CRM and Marketing Automation features, which is why these two technologies are often confused. However, a comparison between Marketing Automation and CRM shows that there are important differences between these two types of software.
In summary, Big Data greatly increases the efficiency and functionality of CRM software. Thanks to big data, customer relationships are now “data-driven”. Businesses are able to adapt more quickly to demand, and significantly improve the experience offered to their customers. By extension, Big Data and CRM make it possible to increase the company’s revenues.
If you want to talk more about how Big Data can improve your CRM, give us a call.