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How Analyzing CRM Data Can Gift You Outstanding Sales Growth

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How Analyzing CRM Data Can Gift You Outstanding Sales Growth


Customer relationship management (CRM) is crucial to the growth of your business. The popularity of CRM software applications has increased rapidly worldwide in the past few years. If you are a startup owner who wants to build connections with target customers and clients, using a robust CRM will help you organize customer data and analyze it efficiently.

Besides improving your customer service, a CRM helps you manage business processes effectively. Moreover, it boosts sales and conversion rates. Many businesses have experienced massive growth in revenues and overall productivity after implementing CRM systems.

Whether your business is a one-person operation or has hundreds of dedicated sales personnel, you may implement and use a CRM to meet your targets and enjoy its benefits, including better data organization and analysis. Keep reading to learn how CRM data analysis helps boost sales.

How can CRM data boost sales growth?

CRM software helps you gather customer data and analyze it to identify ways to strengthen your relationships with customers and increase your revenue. Here are the ways CRM data can boost your sales growth:

1. Find the right customers

As a business owner, you need to spend time and resources on attracting prospects and generating leads. Once your marketing campaigns have reeled them in, you need to check whether they are getting transferred to your sales team and your representatives are aware of these opportunities to sell.

You can connect your CRM system to different marketing platforms, such as email and social, and use customer data to send customized marketing materials. Video marketing tools can be integrated into CRMs so that you can automate your marketing campaigns and offer personalized videos according to different market segments. This will allow you to send the right marketing campaigns to the right customers at the right moment.

2. Reduces Cost of Sales

Winning over new customers is essential to the growth of your business. However, as any salesperson will tell you, it is not an easy task. You are more likely to sell to existing customers than find new ones, and it is more costly to find new markets for your products.

This isn’t a reason to abandon your customer acquisition efforts, though. Using CRM data, you can increase the revenue generated by your existing clients and acquire new customers at the same time in a manner that’s cost-efficient. Here are some ways you can leverage CRM data to reduce the cost of sales:

  • Discovering cross-sells and upsell opportunities: You can analyze CRM data to identify customers who are more likely to purchase additional products or services from you. For instance, if you offer tiered pricing for a SaaS product, you can target customers who have subscribed to the lowest tier and offer them preferential rates on subscription upgrades.
  • Unveil referral business possibilities: Cold calling has a relatively low success rate. On the other hand, people tend to trust their friends and colleagues. Your CRM has a wealth of data that you can use to discover existing customers who might be in a position to influence purchase decisions among their contacts.
  • Decrease closure time: Analyzing your CRM data will help you identify choke points in the sales process. By eliminating these bottlenecks, you can decrease closure time and generate more profit in the process.
  • Upgrade sales competence: Your CRM is a repository of information that will help you pinpoint customer needs and sales opportunities. Knowing your customers closely will help you develop products that address their needs as well as marketing campaigns that answer their questions.

3. Boosts Productivity

A quick look at your sales team’s timesheet will reveal that they spend 66% of their time on tasks that have little to do with actual sales. These activities include entering customer information into a tracker, generating quotes, and researching prospects. As a result, they have less time for revenue-generating tasks:

This is why it’s so important to increase team productivity. Implementing the right CRM software and teaching your sales team how to use it will help reduce tasks that add very little value to the business. An effective sales team knows how to automate manual activities or eliminate them altogether. CRM data will cut the time your team spends on entering customer information and market research.

According to the Harvard Business Review, 52% of high-performing salespeople identified themselves as power users who take full advantage of their companies’ CRM technology. If your salespeople know how to use your CRM, it gives them a significant advantage over competitors that don’t know how to maximize the use of CRM data.

4. Targeted Email Marketing

Email marketing is an excellent medium for reaching target customers. Sending customized offers, discounts, and business proposal ideas can help increase conversion rates.

Whether you have ten customers or ten thousand, CRM software will help you recognize patterns across your customer base and allow you to create targeted email marketing campaigns based on their personal information and transaction history. You may offer discounts based on how long they’ve been using your product or create special bundles for the holidays they observe.

Using CRM data will allow you to create personalized email campaigns that increase the chances of repeat business.

Use CRM software to distinguish your customers and present offers and promotions to your database to make a relevant offer available to every customer. If you can do it successfully, it escalates the recurrence of sales.

5. Better Customer Service

It’s no longer enough to satisfy a customer with your products. Customers now tend to consider their entire experience with your brand, from the moment they sign up for your email newsletters or make a purchase to the moment they contact your user support team. Even if your product has all the features they need, it doesn’t mean anything if your customer service isn’t up to par.

Customer service plays a major role in building your brand identity. You want to be known as a brand that pulls out all the stops when it comes to delighting your customers. Your relationship with your customer doesn’t end when they make a purchase. In fact, if you do customer service right, a purchase is just the beginning of a long and fruitful relationship.

Using customer data from the CRM the right way will help you create a better experience for your customers. For example, your CRM can reflect the number of times they’ve called about a certain issue they’ve encountered with your product, which in turn helps you build a service strategy that addresses that specific concern. Additionally, most CRM tools have an option to integrate them with many other business automation tools and databases, from Google sheets to proposal software tools.

Wrapping up

Running a business, from product development to marketing to customer service, can seem utterly complicated. Fortunately, using CRM data, you can optimize multiple aspects of your operations.

Your product marketing team, for instance, can benefit from CRM data analysis to determine what your customers are looking for in a product and create marketing campaigns that emphasize your product’s features. CRM data can also help your customer service team identify the most common concerns your customers encounter with your product, which allows them to come up with process workflows that revolve around resolving these issues.

Your CRM is a vast, yet a largely-untapped source of actionable business intelligence. Once you learn how to read CRM data, the potential for your business will be limitless.



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Marketing

Marketing operations talent is suffering burnout and turnover

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Marketing operations talent is suffering burnout and turnover


“It’s hard to hire; it’s hard to train; it’s hard to keep people from burning out. To make matters worse, these challenges have intensified so swiftly that leaders have hardly had time to digest them, let alone mount a defense.”

That’s the main takeaway from “The State of Marketing Operations: 2022,” a new report from junior marketing ops training platform Highway Education and ABM leader Demandbase. The findings were based primarily on a survey of 800 marketing operations professionals from organizations of all sizes, more than half from mid-sized companies.

The demand for talent. The vastly accelerated shift to digital marketing — not to mention sales and service — has led inflated demand for MOps talent, a demand the market can’t keep up with. Two results: burnout as too much is demanded of MOps professionals; and turnover, as it’s easy to find alternative opportunities. The outcome for companies is the growing burden of hiring and training replacements.

Use of marketing software has grown two and a half times in less than ten years, according to the report, and the number of marketing operations professionals, across organizations of all sizes, has increased by two-thirds. Use of marketing automation alone has grown 228% since 2016, and there has been a 66% growth in the size of MOps teams just since 2020.

Perhaps most remarkable, 93% of MOps professionals learned on the job.


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Why we care. Providing beginner MOps training services, Highway Education clearly has an interest in this data. At the same time, there can be little doubt that the demand for MOps talent is real and growing. If there’s a surprising figure here, it’s that use of marketing software has grown only two and a half times in the last decade.

AWS MOps leader Darrell Alfonso, quoted in the report, says: “There’s a disconnect between marketing strategy and the actual execution — what it takes to actually operationalize and bring a strategy to life. Leadership, especially the ‘old guard,’ will be more familiar with traditional methods like field marketing and commercials. But now, during the pandemic and post, there’s an entire digital world that needs to be
managed by people who know what they’re doing.”

Read next: More on marketing ops from Darrell Alfonso


About The Author

Kim Davis is the Editorial Director of MarTech. Born in London, but a New Yorker for over two decades, Kim started covering enterprise software ten years ago. His experience encompasses SaaS for the enterprise, digital- ad data-driven urban planning, and applications of SaaS, digital technology, and data in the marketing space. He first wrote about marketing technology as editor of Haymarket’s The Hub, a dedicated marketing tech website, which subsequently became a channel on the established direct marketing brand DMN. Kim joined DMN proper in 2016, as a senior editor, becoming Executive Editor, then Editor-in-Chief a position he held until January 2020. Prior to working in tech journalism, Kim was Associate Editor at a New York Times hyper-local news site, The Local: East Village, and has previously worked as an editor of an academic publication, and as a music journalist. He has written hundreds of New York restaurant reviews for a personal blog, and has been an occasional guest contributor to Eater.



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Product Market Fit with Scott Cunningham [VIDEO]

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Product Market Fit with Scott Cunningham [VIDEO]


Scott Cunningham, CEO of Social Lite and Co-Founder of Merchant Mastery, has worked with thousands of ecommerce stores. The one thing he hears ALL. The. Time? 

“Facebook doesn’t work for my business.”

If you’ve said that about your ecommerce store, listen in as Scott shares what’s missing and how you can overcome that hurdle and start selling.

In this video:

  • Start Here to Sell More: 00:22-00:30 
  • What If I’m Selling a Brand New Product? 00:51-1:02
  • The Formula for Winning in Ecommerce: 1:21-1:34

Learn more about ecommerce:

The Future of Ecommer Marketing Is Now ➡️ https://www.digitalmarketer.com/blog/future-of-ecommerce-marketing/

Use This Framework to Build Ads That Move Product ➡️ https://www.digitalmarketer.com/blog/offer-harmonics-scott-cunningham/

NEW for 2022! Become an Ecommerce Marketing Master ➡️ https://www.digitalmarketer.com/certifications/ecommerce-marketing-mastery/




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Antitrust bill could force Google, Facebook and Amazon to shutter parts of their ad businesses

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Antitrust bill could force Google, Facebook and Amazon to shutter parts of their ad businesses


A new Senate antitrust bill could make Google, Facebook and Amazon divest portions of their ad businesses. 

The Competition and Transparency in Digital Advertising Act (S4285) would prevent large ad companies from participating on different sides of the ad transaction chain. It would ban them from operating more than one of these functions: supply-side brokers selling publisher ad space, demand-side brokers selling ads, or ad exchanges connecting buyers and sellers.

Image from CDTA factsheet

The bill, introduced yesterday by Sen. Mike Lee (R-UT) and co-sponsored by Sens. Amy Klobuchar (D-MN), Ted Cruz (R-TX) and Richard Blumenthal (D-CT), bans companies earning more than $20 billion in annual digital advertising revenue from participating in the online ad ecosystem in a way that creates conflicting interests. 

It also imposes consumer protection rules similar to ones governing financial trading. Under the law, businesses with more than $5 billion in digital ad transactions annually would have to: 

  • Act in the best interest of customers by getting the best bids for ads.
  • Provide transparency customers can verify that.
  • Create firewalls between their buying and selling operations if they are allowed to operate both.
  • Treat all customers the same concerning performance and information related to transactions, exchange processes, and functionality.

“Digital advertising is dominated by Google and Facebook,” Sen. Lee said in a statement. “Google, in particular, is the leading or dominant player in every part of the ad tech stack: buy-side, sell-side, and the exchange that connects them. For example, Google Ad Manager is used by 90% of large publishers, and in the third quarter of 2018 it served 75% of all online display ad impressions. Google uses its pervasive market power across the digital advertising ecosystem, and exploits numerous conflicts of interest, to extract monopoly rents and stack the deck in its favor. These monopoly rents function as a tax — upwards of 40% — on every ad supported website and every business that advertises online, collectively a huge segment of the modern economy.”


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The new law is a response to the anti-competitive practices Google has been accused of. These include Project Bernanke, the focus of an antitrust lawsuit filed by the attorneys general of more than a dozen states. The suit claims Google ensured ads booked via its AdX system would win ad space auctions. 

“The conflicts of interest are so glaring that one Google employee described Google’s ad business as being like ‘if Goldman or Citibank owned the NYSE,’” Sen. Lee said.

Read next: Is there any incentive to crack down on programmatic ad fraud?


2022 MarTech replacement survey


About The Author

Constantine von Hoffman is managing editor of MarTech. A veteran journalist, Con has covered business, finance, marketing and tech for CBSNews.com, Brandweek, CMO, and Inc. He has been city editor of the Boston Herald, news producer at NPR, and has written for Harvard Business Review, Boston Magazine, Sierra, and many other publications. He has also been a professional stand-up comedian, given talks at anime and gaming conventions on everything from My Neighbor Totoro to the history of dice and boardgames, and is author of the magical realist novel John Henry the Revelator. He lives in Boston with his wife, Jennifer, and either too many or too few dogs.



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