CRM And Its Importance
Updated: Jan 31
As a worldwide digital innovative agency with offices in New York, Hong Kong, and Amsterdam, MYN Group specializes in Customer Relationship Management (CRM) and consumer data discovery/analytics. Click here to view some of our CRM work. CRM, sometimes called CDP (continuous data protection), software is a technology system. It gathers customer data to help companies manage their relationships and interactions with their customers and potential customers.
For many businesses, assuring that customers have a personalized, positive experience is crucial to gaining revenue. 80% of consumers are more likely to make a purchase from a brand that provides personalized experiences, and 63% of customers say they will stop buying from brands that use poor personalization tactics. CRM personalizes the customer experience by tracking customer data across channels to identify sales opportunities and manage marketing campaigns. And it works: businesses that use CRM see sales increase by 29% and sales forecast accuracy increase by 42%.
CRM also improves customer conversion rates. Without CRM, companies receive leads with basic data, which only contains name, email address, and contact number. A CRM software provides detailed, data-driven leads with information that will convert more effectively than non-data leads. Consumer data understanding and a solid CRM software can boost conversion rates by 300%. One of MYN’s concentrations is data discovery and analytics. We help representatives better understand their companies better understand their leads so they can sell accordingly.
With CRM, you have more opportunities to upsell and cross sell by understanding your customers better. This information gives you the chance to improve your customer relationship, and in turn, create more selling prospects. Happy customers will be more likely to recommend or refer others, and referred customers spend 200% more than the average customer. In short, CRM can increase your sales and referrals.
CRM software and management are considered to be some of the best technological assets to invest in. Not only does CRM track data, identify leads, and build relationships, but it does everything in one centralized software. If you need help creating or managing CRM and consumer data, please feel free to reach out to MYN Group at MYN.Group@MYNGroup.com for more information.
Our #MYNHerd establishes sustainably agile, efficient ecosystems to build powerful consumer experiences that strengthen brand trust with ethical impact. Through this, first-party data, profile attributes, consumer feedback, and consumer insights are up to date through programmatic processes, automatically extending consumer lifetime value to discover the right customer exchange.