Managing customer and prospect relationships is no simple task. Not only do you have to keep up with ever-changing buyer expectations, but to keep those customers with you for the long term you also need to exceed those expectations.
You may feel a sense of comfort from the fact that you have a pretty well-populated prospect contact database, but just because you have volume doesn’t really mean you have quality data.
With all of those prospects sitting in your CRM, are you taking the time and effort to evaluate and prioritize them in a way that incorporates structure and efficiency? Or are you just letting your qualified prospects become diluted – making it difficult for bigger opportunities to come your way?
Here are 5 ways you should be doing with your prospect data to catch those bigger fish:
Analyze behavior and segment prospects
By studying the actual behavior of your existing potential customers, you can start segmenting based on the results you find. For example, to what extent are they really considering your product?What do they think about your product quality and price? How receptive are they to buying more products from your brand?These are just a few segments to which your company can strategize various ways to message to them or to actively influence them endorse your brand among their peer group.
Segmenting the audience according to their level of interaction and engagement with your brand, how much they are in need of your product, or what triggers them to make a purchasing decision, enables you to understand how, when and where is the best time to reach out to them.
People make various decisions using several common biases and understanding these biases can come handy when you have to persuade them to take action.
Evaluate and create a prospect field structure
Creating a prospect field structure lets you know who your prospects are. Studying and analyzing their behaviors tells you more about what your prospects actually are and what their level of expertise is details like the company name, demography, geography, revenue-turnover, designation, all need to be captured and added to CRM for a better understanding of the lead nature and industry share before establishing a connection with the lead. This data can be collected through a prospect call or by sending a link to the lead and enabling a direct connection. This is all to understand the client requirement so as to provide the right service or solution – as well as to build the target persona.
Prepare the target prospect persona
Prepare the target persona with priority initiatives. Look for the reasons that cause certain buyers to be interested in your service or product, and draft a factor for success based on what operations or results your buyer persona expects to achieve by buying your service or product.This information will vary depending on your business and what type of industry you are in.
Once the information has been gathered on a buyer’s behavior you can compile and organize them into a concise reference document to ensure your marketing is on the right track and your sales team is on the same page. Having an accurate understanding of your buyer personas is essential to the success of your marketing efforts. The better you know the customers, the better you can generate content that addresses their needs and concerns and in turn keep your brand and product at the top-of-mind for your prospects.
The organization that is able to keep their prospect database in order, accurate, and up-to-date is also able to develop useful lists of those prospects,ensuring efficient customer acquisition and reducing costs. Data cleansing paves the way for managing multi-channel customer data flawlessly, allowing an organization to find opportunities for successful marketing campaigns and a new way of reaching their target audience.
Clean up your current database
Customer and prospect contact information is in a constant state of change – due to relocation, turnover, or other factors that have to be researched and updated into the database.
Consistent cleansing of the database is important because it improves the quality of data and in so doing, increases overall productivity. When you keep your prospect and customer data clean, you help to ensure that your team doesn’t having to wade through useless data and that the sales team makes the most of their work hours.
Managing and cleansing data provides significant business value. Business organizations can avoid the hassles and hefty cost involved to process errors.It can also help to achieve a variety of other benefits which lead to lowering operational costs and maximizing profits.
A business that actively improves upon their data accuracy and consistency also improves on their response rate and boosts revenue.
Choose a CRM system if you don’t have one already
Building mutual trust with your customers and assuring them that you value their business is a key factor to acquiring and retaining customers.A CRM system can assist in outlining the steps that you’ll have to take to win over a customer and nurture them over time. Implementing this type of system has multiple benefits across departments.
A CRM system helps build quality customer relationships and increases their loyalty towards your brand. It helps businesses understand customer’s wants/needs and personalizes the customer experience, creates a tactical advantage over your competitors and stabilizes revenue.
It gives sales rep the ability to record customer calls, track emails and automatically moves pieces of information into customer records which can then be referred back to anytime.Customers feel valued as the conversations have a personal touch. This valuable customer data is easily accessible within the CRM and offers insights about each one and the data can be automatically pulled into sales reports.
Integrating a CRM with marketing automation software and support platforms ensures that conversations are consistent across all channels and departments and no communications fall through the cracks.
Verify your prospect data and maintain a healthy CRM with Flobile
Flobile converts out-of-date, inaccurate data into active prospect profiles that deliver value to businesses and allows them to make confident decisions.
The AI-driven data scientist-developed system purges old data and verifies entries with up to 99% accuracy to empower sales teams with actionable insights. Flobile updates your CRM every 90 days to close loopholes and deliver reports on the findings.