Today, consumers spend a majority of their free-time online either on social media platforms or randomly browsing through the internet. There is no denying that constructive data can lead businesses to the path of expansion.
Using data is not restricted to analyzing web traffic and engagements. You can also use it to evaluate opportunities and grab the best one. A business is less likely to reach its best potential in the absence of customer data.
Most businesses prefer analyzing data at frequent intervals. But, modern-age businesses work on the latest trends and rapid decisions. When using advanced technology, it is equally important to use the latest data.
Acquiring real-time data is a stepping stone for the development of your business.
In this article, we have discussed certain important aspects related to real-time data:
- CRM To Acquire Real-Time Data
- Near-Real-Time V/s Real-Time Data Processing Software
CRM To Acquire Real-Time Data
A good CRM software is a boon to enterprises. It helps them in unique ways that you as a business owner can ever imagine. However, it is important to install the right system for effective use.
For instance, if you are in search of real-time customer data, then you must install the Shopify CRM Plugin to acquire the much-needed customer information.
Besides, mentioned below is a takeaway of how CRM can provide you precise customer data-
A Comprehensive Customer View
CRM systems are designed with the sole purpose of offering a comprehensive preview of customers to businesses. This system ensures that your workforce has ample real-time customer data.
The system can provide you all the information right from the customer’s email address to their purchase list. You have a clear picture of their order history, buying patterns, and payment information.
This makes it convenient for you to approach them at the right time.
You can trace product categories that they are inclined towards through their purchase history and searches. Utilize this information to connect with them. Send across an email during season sale for their product category.
You can also make optimal use of cross-selling and upsell and advertise on social media to improve your reach. Besides, this comprehensive customer details can help you frame effective marketing and sales strategies for the next quarter.
Access to Real-Time Customer Data
A back-dated data is more likely to leave you behind in the race and you will reach your customers late.
On the contrary, real-time customer data can provide you actual information on accounts receivable management.
This allows you to trace which clients owe you money for your services. You no longer have to skimp through multiple balance sheets. Instead, the CRM software can simply provide you with information within minutes and accurately.
Your business needs to stay updated about the amount receivable to maintain steady cash flow. CRM can provide you with all the necessary details to enjoy smooth cash flow within your organization.
This information also notifies repeat offenders and helps you to decide whether to work with them in the future.
In case, you face payment issues from clients, you can alter marketing campaigns and save your hard-efforts for loyal clients.
A good CRM will help you to automate several business processes such as HR, administration, and many more. These systems can help you to get in touch with your customers and send them automated mails.
Search for a software that has a feature to automatically segregate your audience based on different categories such as purchase history, customer type, and contact status.
A good software empowers you to utilize the system as an email marketing platform. This system can also automatically segregate the audience based on the parameters that you have set.
Purchase patterns and contact segregation are two prominent parameters widely used to acquire precise customer information. This data helps you to cross-sell and make the most of the platform.
Segmentation through search history helps you to reach customers via different platforms. You can send a recall to customers to make purchases for their researched products.
Build Long-Lasting Relationships
Customer loyalty is the base to build long-lasting relationships with your customers. As per marketing experts, “it is five times convenient to retain customers than approach a new one.
Real-time customer data provides you the ability to understand customer requirements and offer them the same. Based on this data, you can offer customized services to them.
They will be glad to hear from you. You can also encourage them to complete the ordering process for products lying in the cart and send a made-to-order message for it.
At times, all it takes is a message to trigger sales.
Word of mouth is yet one of the most effective marketing tactics. A loyal customer is more likely to endorse your product/services effectively. There is a high probability of the recipient purchasing from you in the near future.
Therefore, make sure that you build a friendly and lasting relationship with your customer to create a strong loyalty base.
Near-Real-Time V/s Real-Time Data Processing Software
Do you want an actual real-time or near-real-time data processing software?
It is advised to invest in the actual real-time data processing software. This way, you acquire precise data about your customers and can utilize them at the right time.
Near-real-time data processing software provides you outdated information that is less likely to help you. Such software is likely to be a bit slower than the other ones.
On the other hand, real-time data providing software can help you to convert a potential customer into an actual one. Besides, they allow you to make the right use of the available resources.
The latest software also offers a quick and colorful graphical representation of the data. This makes it convenient to analyze and draw the right conclusion.
It is time to transform your enterprise and adopts modern tools. These tools can help you to excel in the market. They can bring you better opportunities which earlier seemed almost impossible.
Install a real-time customer data offering plugin to your CRM software today!