Customer relationship management (CRM) software is a multifaceted sales and marketing tool that can help you elevate your sales and revenue. As you learn more about these tool’s capabilities, you’ll unlock more and more value from them.
With advanced CRM techniques like predictive analysis and sales forecasting, you can gain powerful insights to inform your decision-making and improve your business strategies.
Predictive analytics and sales forecasting techniques are just a few of the many capabilities that Nutshell CRM offers. Learn more about how Nutshell can help you power up your sales and marketing efforts today by contacting us online or attending a live demo.
Predictive analytics and sales forecasting are techniques used to identify the likelihood of future events based on CRM data trends and patterns. Through predictive analytics, businesses can glean helpful data insights to make more accurate predictions about sales, revenue, and customer behavior.
How to use predictive analytics and forecasting in a CRM
CRM software typically comes with built-in analytical tools that can be used for predictive analysis and forecasting. That being said, anyone with a CRM should use those tools to their full potential so they can help their business thrive with the data they collect.
Predictive analytics and sales forecasting can be used to do two major things:
Analyze customer and sales data
Make informed business decisions
These aren’t just how you can use predictive analytics—they’re also benefits of the technique. Keep reading to learn more about how you can analyze customer data for key insights and make better business decisions with predictive analytics and forecasting and how it can benefit your business’s bottom line.
1. Analyze customer and sales data
With the help of predictive analytics and forecasting, businesses can analyze customer and sales data collected by their CRM to identify trends and patterns in sales and customer habits and predict customer behavior.
Identifying trends and patterns in data is a huge benefit to businesses because it offers insight into how sales and marketing efforts are performing. By analyzing customer and sales information like purchase history, demographics, and sales performance, businesses can gain a deeper understanding of customer behavior, preferences, and the overall success of marketing and sales efforts.
How to analyze sales and customer data with your CRM
When you have a CRM like Nutshell, in-depth data analyses are just a few clicks away. Equipped with powerful reporting features, you can generate sales forecast reports on demand and analyze sales performance through comparisons with previous months, quarters, and years.
Nutshell gathers all of your customer data and centralizes it so you’re not jumping through hoops to find it. With Nutshell’s reporting and analytics tools, you can filter customer data to observe and create different customer segments based on demographics, behaviors, and sources of engagement.
Does your audience interact with your marketing content more frequently on social media? Which platforms? How do they interact with your content, and what content garners more engagement? With Nutshell’s customer data reporting, you can answer those questions about your audience and more.
2. Make informed business decisions
Through customer and sales data analyses, you can make well-informed, data-backed business decisions with confidence. This includes identifying effective marketing channels, optimizing sales and revenue, and improving customer service and support across the board.
Keep reading to learn how each of these benefits of data analysis can improve your business and marketing efforts.
Identify the most effective marketing channels
By using data analysis to identify your most effective marketing channels, you can adjust your strategies to maximize those marketing efforts for the best results possible, improving your return on investment (ROI).
Additionally, you can identify weaker channels and make improvements so you’re not funneling valuable time and effort toward marketing efforts that aren’t giving you anything in return.
Optimize sales and revenue
Just like identifying effective marketing channels with customer data, your sales data analyses can help you pinpoint effective sources of revenue as well as business efforts that are consistently resulting in sales and conversions.
By identifying these strong points in your sales strategies, you can identify opportunities to optimize those efforts and improve processes that aren’t resulting in sales or revenue. Not to mention, you can actively encourage growth for your business.
Improve customer service and support
Analyzing customer and sales data means you can better identify customer needs, wants, and behaviors. In doing so, you can offer better support for your audience when it comes to customer service.
By anticipating customer needs and wants, you can provide efficient and effective customer service that leaves you with satisfied customers. They’ll remember the positive interactions they had with your team and (hopefully) tell others about their experience.
Take advantage of predictive analysis and forecasting with Nutshell
Are you looking for CRM software that takes the headache out of data collection and analysis? Nutshell is your all-in-one solution that automates data collection, marketing, and sales efforts and produces real-time data reporting for smarter business decisions that improve your bottom line.
Learn more about how Nutshell’s intuitive CRM can help you level up your business and sales efforts and start taking advantage of Nutshell’s analysis and sales forecasting tools by contacting us online or starting a free trial today!