Most businesses rely on customer relationship management (CRM) solutions to manage their customer data. However, many businesses are starting to realise the value of supplementing their CRM data with external data.
External data solutions can provide valuable insights that can help you improve your marketing efforts, sales strategies and customer service operations. In this article, we will discuss the different ways it can complement your CRM solution. We will also highlight some of the benefits of using external data in conjunction with CRM software.
For starters, what is external data?
In the context of customer relationship management, external data refers to any information that is not collected by your CRM system. This can include data from social media platforms, online directories and third-party databases.
- Improve your marketing efforts.
One of the most common ways businesses use external data is to improve their marketing efforts. By supplementing your CRM data with external data, you can get a more holistic view of your customers and their needs. This, in turn, can help you create more targeted and effective marketing campaigns.
For example, if you’re trying to reach a specific target market, you can use external data to identify the best channels for reaching them.
- Understanding your customers’ buying behaviour.
You can also use external data to better understand your customers’ buying behaviour. This information can be used to create more personalised marketing campaigns that are designed to meet your customers’ specific needs.
- Create look-alike models.
Look-alike modelling is a process of finding new customers who are similar to your existing customer base. This information can be used to target your marketing efforts towards individuals who are more likely to become customers.
- Improve customer segmentation strategies.
External data can also be used to improve your customer segmentation strategies. By segmenting your customer base, you can more effectively target your marketing and sales efforts. Additionally, you can use external data to create custom segments that are based on specific criteria.
- Optimise your sales strategies.
Another way businesses can use external data is to optimise their sales strategies. By understanding your customers’ needs and behaviours, you can more effectively sell to them. You can use external data to identify new sales opportunities and target specific markets.
- Improve customer service operations.
External data can also be used to improve your customer service operations. When you fully understand your customers’ needs and behaviours, you can more effectively address their concerns. You’ll be able to identify potential areas of improvement for your customer service team.
- Increase customer loyalty and retention.
Finally, external data can also be used to increase customer loyalty and retention. With improved customer service operations, you’ll be able to retain more customers, thus promoting loyalty.
External data is a valuable resource that can be used to complement your CRM solution. By understanding the different ways external data can be used, you can more effectively utilise it to improve your business operations.
