CRM and Artificial Intelligence, how to increase the value of your customer base
Customer Relationship Management (CRM) is a strategy used by companies to manage interactions with their current and potential customers. CRM helps organizations streamline processes, but above all increase sales, improve customer service and, consequently, profitability.
When we talk about CRM, however, we usually refer to a “software”, that is, a tool used by companies to simplify the management, for example, of contacts, sales or agent productivity. In any case, the goal of a CRM is simple: improve customer relationships across the entire lifecycle, in every marketing, sales, e-commerce and customer service interaction.
With the CRM it is possible to record prospect and customer information, such as email, telephone, website profile on social media, but also details of personal communication preferences, to be able to draw an overall picture of your audience.
The objective is to store this data to be able to continually develop new acquisition and loyalty strategies that can respond to the needs of its target and allow the company to grow, both in terms of reputation and turnover.
The problem that often arises in companies that equip themselves with a CRM comes from the analysis of the data within it. While it is true that most software allows for an aggregate view, it is difficult to carry out comprehensive analyses of all the information. These, in fact, are often too many and difficult to group together, except by a dedicated team of data scientists, which imposes an increase in costs and processing times, decreasing the value of CRM in the management of company policies and strategies.
How can this problem be overcome?
Using a highly technological tool that is increasingly successful of late: artificial intelligence. Thanks to it, it is possible to make the most of the power of your CRM to analyse all the data in your possession and quickly capture all the information within an overall framework that allows you to trace data-driven and reliable strategies for all corporate areas, from sales to marketing, through customer service, and up to human resources.
With artificial intelligence, the sales team can use CRM to better understand their pipeline, accessing reliable customer information and forecasts and enjoying the ability to spend more time defining acquisition strategies and less on data entry.
Marketing teams can use artificial intelligence applied to CRM to simplify and make forecasts more accurate. They can gain clearer visibility into each opportunity or lead and track the entire customer journey, from inquiry to sale, so they have a better understanding of the sales pipeline or potential work coming up.
Customer service can effectively follow conversations across channels, understanding how to interface with each incoming lead or customer. In fact, they could raise an issue in one channel, such as Twitter or Facebook, but then move to email, phone or live chat to resolve it privately.
The HR team can use CRM to speed up the hiring process and monitor employee performance, defining the value each of the candidates would bring to the company if selected.
In short, with artificial intelligence it is possible to increase the usefulness of a CRM even further by managing to make the most of it.
But how can you connect artificial intelligence to your CRM?
With BigProfiles, which provides its customers with an easy and intuitive artificial intelligence platform capable of analysing very large quantities of data in a very short time simply by using API connectors, suitable for both sector experts and those without any knowledge in terms of coding.
Thanks to it, the team of data scientists, together with operations and marketing, will have the opportunity to exploit BigProfiles to predict customer behaviours within their CRM and consequently set models capable of tracing the best possible strategy to succeed to achieve their retention, acquisition and cross-selling objectives, increasing the value of their customer base.
Do you want to know more about how to implement BigProfiles within your company and start harnessing the power of Artificial Intelligence?
Fill out the form below and request a free demonstration with one of our consultants!