Business processes for sales and marketing have changed drastically over the last decade. Earlier, sales and marketing representatives relied on human interactions to make decisions. Cut to 2023, they use insights from CRM (Customer Relationship Management) tools for decision-making. According to a report, the number of corporate entities using CRM tools will increase by 12% at the end of 2028. In this competitive era, CRM tools are essential for the success of sales and marketing teams.
Read on to understand the top features to consider in a CRM tool.
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Features to Consider in a CRM Reporting and Analytics Tool
A CRM Reporting and Analytics tool will analyze customer interactions, buying patterns, marketing campaigns, and high-value customers. After the analytics part, the CRM tool will generate data reports for sales and marketing professionals. Data reports can be used for informed decision-making by sales and marketing professionals. Many companies use CRM tools to boost sales and customer retention rates, but only a few succeed. It happens because some companies might be using outdated CRM solutions.
Here are the features to look for in an effective CRM tool:
A Unified View
A reliable CRM tool will have a central dashboard with all the metrics and key features. The critical focus areas, like customer churn, sales progression, and campaign performance, must be displayed in one place. Unfortunately, some CRM tools offer different dashboards for tracking each metric. It frustrates sales professionals as they visit multiple dashboards for simple information. The best CRM tools allow users to customize their dashboards. Users can choose the KPIs, processes, and alerts on the central dashboard. With high customization, sales professionals can mold the CRM tool according to their needs. Don’t go for CRM tools that restrict customization or have multiple dashboards.
Must Read: How CRM Reporting and Analytics Can Help Companies Optimize Sales and Marketing?
Enhanced Searchability
Sales and marketing professionals often search for high-value customers, marketing campaigns, or product performance reports. The CRM tool must offer search features for users to find what they want. An effective CRM tool allows you to search for information across all your databases. Every database within the organization integrated with the CRM tool will make it easy for employees to search for information. When sales and marketing professionals can access the right information, they can make better decisions.
Data Visualization Capabilities
Raw or unstructured customer data might not be helpful to marketers and sales representatives. There is a need to convert unstructured data into appealing charts, tables, and infographics. Visually-striking charts and graphs make it easy for organizational employees to comprehend things. A CRM tool that generates lengthy and complex reports is not useful. Even if the insights are useful, they will get lost in lengthy data reports. With enhanced data visualization, one can understand patterns and trends easily. Someone with no technical knowledge can also understand charts and graphs generated by the CRM tool.
Customized Reporting
A CRM reporting and analytics tool generates reports at fixed intervals. The concerned employees must decide what they want to see in the reports generated by a CRM tool. Assume that sales representatives need to see the customer churn rate. The data reports a CRM tool generates do not include the churn rate. Instead, they show sales representatives the customer acquisition cost. In such a case, the sales representatives might not make informed decisions. An effective CRM solution allows you to customize your data reports. You decide which metrics and infographics to include in your data reports.
Detailed Analytics Feature
A CRM reporting and analytics solution will generate understandable data reports. Some analysts might want to delve deeper and identify patterns or anomalies. The CRM tool must allow analysts to drill down and identify insights that might go unnoticed. Assume the CRM tool shows a spike in sales of any particular product. Analysts should delve deeper and identify the root cause of a spike in sales. The analysts might never know the reason if the CRM tool does not allow them to drill down.
Remote Accessibility
Remote accessibility is a must-have feature in your CRM reporting and analytics tool. Considering the recent rise of remote work, the CRM tool should also support remote access. Employees and senior professionals must have access to data reports and insights remotely. One can choose cloud-based CRM solutions that support work from satellite offices and remote locations.
In Conclusion
A CRM tool can allow you to track digital customer journeys, customer interactions, marketing campaigns, product sales, and more. Companies must choose CRM solutions with remote access, drill-down, data visualization, and customized reporting features. You can connect with a third-party research firm to adopt an effective CRM solution. Install an effective CRM tool right away!
