In any organization, cross selling and up selling are the two most important things. Cross-selling and up-selling increases your revenue and then strengthen your relationship with your customer and build loyalty as well as trust. CRM helps cross-selling and up-selling in several ways. Read more at: http://it.toolbox.com/blogs/insidecrm/crosssell-upsell-and-crm-75010
Branding is important for any organization. It helps organizations to brand your business. But, you must constantly fine tune your brand. The CRM system is a major tool for reforming your brand. An organization can use the data in your CRM system to help re-target your messages which will in turn help to publicize your business. Read more at: http://it.toolbox.com/blogs/insidecrm/refreshing-your-brand-with-crm-75011
Most organizations use sales pipeline as a snapshot of future cash flow, but, you can do more that by using sales pipeline. You can use sales pipeline as a strategic growth tool, using it as a channel to help you prioritize resources for critical sales, identify stuck opportunities, and create new opportunities based on metrics from historical data. CRM can help any organization by capturing more leads, team with marketing team to engage prospects, tailor content to match prospects, measure your performance and improve, and control your sales cycle. Read more at: http://it.toolbox.com/blogs/insidecrm/how-crm-can-drive-better-sales-results-in-every-phase-of-the-sales-cycle-74937
A CRM system is successful only when it is used correctly and efficiently. It saves money if it is properly implemented and used. CRM system should be such that people will want to use it. Generally, CRM systems are used by leaders, so it can be treated as another leadership tool which can help to increase productivity and enhance sales outcomes. It can also be used as a sales tool in meetings, to generate managerial reports, and as a customer analytics tool. Read more at: http://it.toolbox.com/blogs/insidecrm/your-crm-system-is-only-as-successful-as-the-people-feeding-it-74938
The higher education sector is evolving at a great pace. Tuition costs are soaring. Higher education software providers are also offering a customer relationship management platform tailored to their client base. Nowadays, most CRM vendors are targeting higher education as this sector is highly profitable. This article explores the different ways CRM is helping the higher education business. They are: Manages Student Learning Outcomes, Improves Student Data Tracking, Improves Campus Management, and Enables Personalized Learning Management. Read more at: http://it.toolbox.com/blogs/insidecrm/4-ways-crm-makes-the-grade-in-higher-education-74958
Artificial Intelligence or AI is gaining importance in today’s business world. But, we must know what is AI in ERP before proceeding. It is a powerful way to efficiently and accurately extend the capabilities of ERP. One of the most important functions of ERP is to help organizations streamline their activities and take decisions about everything from production to sales. AI extends these abilities by analyzing large historical data sets and organizations can then use these historical data sets to learn past patterns of behavior. Read more at: http://it.toolbox.com/blogs/inside-erp/3-ways-ai-improves-erp-74922
Converting analytics to action is a nightmare as it is fraught with problems, of which, not the least is the political nature of organizational decision-making. When it comes to ROI, we see lots of organizations taking on the analytics bandwagon and are happy to have more insight into which pages, and segments are driving returns. A host of digital tools can transform data into pretty dashboards to help improve ROI.
Overall, businesses do a great job of monitoring, understanding, and utilizing ROI information–translating it into effective actions. These relatively simple metrics guide managers on which messages, segments, products, and channels are working their best, allowing them to tweak strategy in order to improve market performance and intelligence. Still, sometimes issues of data quality and politics impede implementation of the right actions based on available data.
The holiday season is important for retailers and manufacturers as consumer buying increases by as much as 40% which in turn increases shipping. Thus, companies will deliver more products and financial institutions will also see a noticeable increase in transactions. Nowadays, consumers purchase products online. So, it is important for companies to have a good big data application which must focus on product and customer analytics, which will improve customer service, decrease time-to-market, and provide analysts with actionable intelligence to make business decisions. Read more at: http://it.toolbox.com/blogs/database-administration/big-data-planning-for-peak-season-74893
Organizations need to segment their customers and deal with each segment differently. In this way, an organization can give more attention to customers and in return will lead to more profit. This segmentation can be done using tools included in your CRM system. The segmentation becomes easy with the help of CRM tools. But, you must decide how to segment meaningfully. Read more at: http://it.toolbox.com/blogs/insidecrm/segmenting-customers-by-quality-in-crm-74857
Data is the latest weapon in the market and is the deciding leader in almost all the industries, especially consumer packaged goods, or CPG. The key reason being, the fast changing consumer preferences and influx of larger pool of 21st century competition, primarily the retailers – both, brick & mortar and online.
However, in spite of this gigantic pile of data generated every single day, the plight of CPG companies is similar to a soldier who is given a latest automatic machine gun but doesn’t know how to effectively use it. There are companies who just don’t know what to do with the data. Those who know, are, perhaps, not using it efficiently.
To know more of effective use of data, read on : http://blog.fractalanalytics.com/big-data-visualization/what-shapes-your-analytics-maturity-pathway/
In recent times, marketing has become an integral part of any business. Your business may offer the best products or services in the industry, but without continuous projection of the product to the customers, the chances of your competitors taking over your products is very high.
In the early 1950s and 1960s, marketing was production oriented and the quality of the production was the driving factor of marketing. Later, as new production technologies started to develop, techniques evolved simultaneously to meet the needs of the customers and efforts were made to maximize customization. But the next major advancement in marketing is literally hacking the brain of the customer.
Neuroscience is the field of study where the response to products and consumer decision-making is understood at the level of body and mind. The Neuromarketing concept is based on a model wherein the major thinking part of human activity, including emotion, takes place in the subconscious area that is below the levels of controlled awareness. For this reason, the perception technologists of the market are very tempted to learn the techniques of effective manipulation of the subconscious brain activity.
Neuromarketing is a flexible method to determine customer preferences and brand loyalty, because it can apply to anyone who has developed an opinion about a product or company.
To know more on neuromarketing, read : http://blog.fractalanalytics.com/integrated-marketing-effectiveness/neuroscience-in-marketing/
To be successful in any business, you must focus on customers i.e. you must be customer centric. Organizations must look at business from a customer's perspective and get a whole new vision of what they are doing. This will in turn improve the service you can give to the customers. CRM is a powerful tool for building the customer-centric business as it establishes a 360-degree view of your customers and use that information to serve customers better. It also tracks all your dealings with customers and potential customers. Read more at: http://it.toolbox.com/blogs/insidecrm/customercentric-with-crm-74862
How do companies attract and engage new clients while making sure the existing clients are happy? The simple answer to this question is, manage.
However, you will not find many executives who would respond to this conjecture candidly. You will, however, find plenty of companies that take the “we manage” approach with one of its most valuable assets: relationships.
While running any enterprise technology company, we’ve seen just how consistently data can be used to help improve sales. But we do know, all its good intentions to provide sales managers with a way to monitor pipeline and sales activity, CRM is still hugely inefficient. Representatives are required to spend time manually entering data, and then spend more time searching through it. While senior management clearly values the ability to monitor these representatives through CRM, the vast majority of sales people dislike the extra work and overhead it creates and generally use CRM begrudgingly – and rarely to its full potential.
Read more at : http://www.business2community.com/strategy/relationship-intelligence-companies-acquire-01702402#tAmo7XUOWfJJ6g3Z.97
It’s every marketer’s dream to be able to lay their head to rest at night with the knowledge that when they wake up, your bank balance will be just that little bit bigger. The passive income dream is common enough among marketers and entrepreneurs. But it’s always been an elusive goal. The dream of making money while you sleep often remains exactly that, a dream.
It’s difficult, but not entirely impossible. There’s countless examples of solo entrepreneurs, small businesses and huge corporations that have automated much of their income with much of this proliferation due to continuing advancements in technology.
Sure, we all know that email is also one of the most versatile methods for automating your income. Email is still the great lever for success. You can embrace it and live your passive income dreams, or ignore it and continue to work hard for little to no reward.
Read more about different automation campaigns here: https://blog.crazyegg.com/2016/04/08/drive-revenue-while-sleeping/
Nowadays, business owners must be aware to prevent fraud from exposing company information and protect their employees, customers and revenue. So, they must use machine learning for fraud prevention. Machine learning uses algorithms to detect changes in digital networks which helps the IT or management team to take security measures. This article explores the ways in which machine learning can help with fraud detection. They are: 1. Identify Strange Spending Patterns, 2. Combine Supervised and Unsupervised Techniques, 3. Find Customer Anomalies, and 4. Protect Your Revenue. Read more at: http://it.toolbox.com/blogs/itmanagement/4-ways-to-detect-fraud-with-machine-learning-74728
Fraud is one of the major issues in today’s business world. It was found that 8% increase over last year in the cost per dollar of fraud losses and online retailers are the worst hit as fraudulent transactions grew 32.1% in 2015. Nowadays, data analysis has come to rescue organizations from fraud as it allows companies to create fraud risk profiles and then use existing data to identify potential fraudulent activity. This article explores the commonly used data analysis techniques used to search out fraudulent transactions. They are: Pattern Recognition, Outlier Detection, Regression Analysis, Semantic Modeling, Neural Network, and Anomaly Detection. Read more at: http://it.toolbox.com/blogs/itmanagement/how-to-detect-fraud-using-data-analysis-74726
Starting a small business can seem tough and impossible at first when, there is so much to do on the front end before you even open the doors for your customers . We are now in the age of the art of technology which uses cloud computing to store all of our information and access if from anywhere we are. Not only does this make operating a business easier, but it makes the process much more efficient. The cloud can be your secret weapon to any aspect of the start-up process of your business. Here’s how.
Read more at: http://www.business2community.com/cloud-computing/6-ways-use-cloud-start-business-01669177#o3OZvYPJyqBGeKit.99
We all get those helpless looks on our face when a stack of information and numbers are thrown right in front of us which are not only difficult to understand but includes intense labour in order to be managed.
People who are regular at managing and working with data can also get lost in this labyrinth of information and end up drawing farcical conclusions. However, such troubling days are finally over. As the ways to collect and process data increases, so does the insights. So, it is high time that we ditched the traditional method of basing decisions on past experience and anecdotes in order to sell a product, and used the art of big data management to ensure better product management
Read more at : http://www.business2community.com/big-data/use-big-data-sell-account-management-01679323#yhUtXuzWvCDbDYI4.99
Data driven marketing strategies are focused on closing sales, customer retention and building loyalty. The key marketing strategies should be focused around the customer and CRM helps in the tracking customer’s movement through the sales cycle based on specific marketing campaigns and CRM systems also can give marketing exceptional access to this type of individual transaction-level data, which allow marketers to create high-tech campaigns. This article explores the ways in which marketers are using CRM to strengthen their marketing strategy. Read more at: http://it.toolbox.com/blogs/insidecrm/4-ways-to-use-crm-to-strengthen-your-marketing-strategy-74702
Customer retention is the most important thing for any organization. It is found that increasing customer retention by just 5% could result in profits that are between 25% and 95% higher, depending on the industry. Loyalty programs make customers happy. But, many organizations cannot integrate CRM with loyalty programs. To know more about the benefits of brand loyalty, read: http://it.toolbox.com/blogs/insidecrm/customer-retention-whats-loyalty-got-to-do-with-it-74689
