There are several ways that a dealer can employ to increase his sales and generate more revenue. An effective way, followed by a majority of dealers, is to maintain a customer database. It allows the dealers to analyse their customers and plan their product placements in addition to other things accordingly. While different software solutions can be used in a business, it is ideal to find one that can carry out a multitude of tasks. Tyre ERP software is one such fantastic software product that has an inbuilt CRM mechanism along with other features.
Given below are the advantages of maintaining a Customer Relationship Management (CRM) database to optimise your sales funnel:
Analysing Customer Trends
Through this data, you can analyse the preferences of your customers and plan accordingly. The data tells about the likes and dislikes of the customers. This data is helpful for dealers to improve their services and ensure that the customers get the best possible services irrespective of the phases he is at in the sales funnel. In CRM, it is not just about making a sale, it is about making sure that the customer gets what he needs even if he is at the awareness, interest, evaluation, or decision phase.
Can someone predict the future? No, but forecasting is essential in business by interpreting the present data to plan for the future. So, it is always helpful to maintain data your customer and their behaviour. This data can be used to make interpretations to analyse customer trends and the future of the business. This helps the company stay ahead of the curve and be future-ready.
Through the customer data, one can predict the future prospects for selling more goods and services based on the sales figures of the present. This allows the dealer to make arrangements of any rise or fall in the demand accordingly. It can be especially helpful to forecast any seasonal or occasional changes in sales and replenish the inventory for that. Any carelessness here means that the dealer will not be able to deal with the situation effectively.
Purchasing Habits and Trends
The way your target customer behaves tells you a lot about their tastes and preferences. Once you know where the trends are headed, you can take necessary decisions to ensure that your business also moves in that direction. If data indicates that customers like to buy a few products together, it can be useful to sell those products in a bundle or even use some marketing tactics to show this possibility to more customers. The more prepared you are the better for your business. All future decisions are based on the basic understanding of the shifting trends and how the company can adopt it.