The evolution of CRM platforms never stops. But just as this business-critical platform has changed and evolved, so has the landscape of selling, as well as the plethora of information that we have. Modern CRMs have made great strides at automating data collection to use for strategic initiatives like enhanced forecasting, but realistically, the vast majority of today’s CRMs require you to enter data manually. And in today’s hyper-competitive and hyper-fast environment, that’s just not going to cut it.
Real-Time Data plus No-Touch Technology Awaits
If we’re going to be 100% honest with ourselves, data entry is a snooze. But even once all this data is input into the system, it only provides a small snapshot of what information your system has to offer and a glimpse of the pipeline.
Since customer experience (CX) is continually evolving, modern CRM solutions must grow alongside it. Leadership and sales professionals require advanced, time-aware insights into revenue analytics to unlock the power of historical data and forecasting—utilizing your data like never before.
We’ve discussed this issue on our webinar “Real-Time Data with No-Touch Tech”, and if you missed it, we recommend taking a moment to understand what it means to embrace Sugar Sell and unlock the power of your data with Enhanced Forecasting.
5 Ways to Unlock the Power of Enhanced Forecasting with a Time-Aware CRM
Sugar Sell and Enhanced Forecasting are a robust set of tools at your fingertips. They can unlock the power of time so you can see more than just a filing cabinet of record files but an entire picture that is demonstrative of all your data. Time is crucial in business. In fact, it’s a currency used to evaluate product viability, investments, and goal structuring. With something so critical to a business, why has it been missing for so long?
1. Enhanced Timing for Engaging with Customers
Timing is crucial in customer communication. A Time-Aware CRM helps you identify the best times to contact customers based on their past interactions and preferences. Whether it’s sending promotional emails, follow-up messages, or renewal reminders, the system can recommend optimal timings, increasing the chances of your messages being noticed and acted upon.
2. Personalized Communication
By factoring in historical data about customer interactions and preferences at different times, the CRM system can facilitate more personalized and relevant communication. This leads to better customer experiences and enhanced brand loyalty. It can also help by analyzing customer behavior patterns over time allowing businesses to identify trends, such as when customers are more likely to make purchases or when engagement drops off. This information can guide decision-making and strategy adjustments.
3. Effective Marketing Campaigns
Timing is crucial for the success of marketing campaigns. A Time-Aware CRM enables marketers to schedule campaigns to align with specific events, holidays, or customer behaviors, ensuring that messages are timely and impactful. In essence, a Time-Aware CRM empowers your marketing team to create more relevant, targeted, and timely campaigns. By harnessing the power of historical data and real-time insights, you can improve customer engagement, drive conversions, and ultimately achieve better ROI on your marketing efforts.
4. Sales Cycle and Lead Optimization
Understanding the typical duration of sales cycles helps sales teams make informed decisions about when to follow up with leads or when to offer promotions to close deals more effectively. Time-Aware CRM systems can provide insights into the buying cycle of customers. By understanding where a lead stands in their decision-making process, sales teams can tailor their approach more effectively. This information can be used to send targeted offers, address objections, and time sales pitches appropriately, resulting in higher conversion rates and shorter sales cycles.
5. Forecasting and Trend Analysis
Time-related data helps in creating more accurate forecasts and trend analyses. Enhanced forecasting takes an automated analytics approach to CRM data analysis and can deliver early insights into ever-changing business conditions. It prevents you and your employees from having to pore over reports, dashboards, and spreadsheets to unveil the data that’s most important for your business.
6. Effective Follow-Up and Long-Term Relationship Building
Tracking interactions and engagements over time enables businesses to build stronger, long-term relationships with customers. It allows for continuity and a deeper understanding of customer preferences and needs. Building strong customer relationships often relies on consistent follow-up. A Time-Aware CRM keeps track of when and how you last interacted with a customer. This allows you to set reminders for follow-up calls, emails, or meetings. Building a consistent communication cadence fosters trust, reinforces your commitment to the customer, and increases the likelihood of repeat business.
7. Data-Driven Decision Making
By incorporating time-related data into CRM analytics, businesses can make data-driven decisions based on historical performance, conversion rates, and engagement trends at various times. A Time-Aware CRM system provides valuable historical data and insights that can inform strategic decisions. Businesses can make informed decisions about product development, marketing strategies, and resource allocation by analyzing trends in customer behavior, purchase patterns, and engagement rates over time.
Incorporating time-aware features into a CRM system adds a dimension of context and relevance that can significantly enhance customer relationships, marketing efforts, and overall business operations. It allows businesses to make the most of their interactions by ensuring that they occur at the right time and in the right context.
Want to learn more about Enhanced Forecasting as a solution to your business and revenue analytics? We’re happy to walk you through how it can empower your organization and help you find opportunities and where you should go next. Things have changed; learn what it means to unlock revenue analytics with SugarCRM.
Or, simply interested in learning more about Sugar Sell and Enhanced Forecasting? Check out our interactive guide, Meet Sugar Sell Premier.