Today’s fast-paced world has rubbed off on customers. Not only do they want 24/7 availability of services like shopping and banking, they also demand access to the latest information that can affect their relationship with a brand or company. The latter cannot be more evident in customer relationship management (CRM). From the simple updating of consumer data like phone numbers and addresses to billing information and current product availments, companies need to ensure that they are equipped with the correct and complete details every time they touch base with their customers.
The right database replication solutions can help in this regard. Whether a customer is making a purchase through an online facility or a sales representative is paying a personal visit to a client, data replication can drastically improve a CRM program. Here’s how.
Access to Latest Customer Records
This goes both ways — the customer can access their own information to review their personal details or check out products that they may be interested in, while the CRM personnel can check the records to develop customized retention programs or to offer new products to qualified customers.
Having access to latest information also helps in settling disputes and preventing customer churn. For example, if a customer has an unpaid bill that would cause their subscription to get cancelled, a relationship manager can call or pay a visit to the customer to follow up and settle the matter.
Update Customer Data Easily
In relation to having access to customer records, data replication also makes updating these records a breeze. This can be done on the consumer end using online forms, where such details will be updated only upon verification, or through calls made via a dedicated hotline number. Meanwhile, CRM personnel can update customer records in various ways. For example, they can collect online registration information from a conference and directly mirror this data onto their servers. When conducting field operations, they can also input new or updated customer information on the spot.
Data replication also ensures that no information, whether internal or external, gets lost and that priority customers and business issues receive due attention. This is especially critical if a key member of the sales or CRM teams leaves the company.
Access to the most recent customer records and the ability to update product and customer information in real-time lead to a synchronized, more seamless operations of every relevant department within the organization, but more particularly the sales force and the CRM team.
To illustrate, a sales representative can make an appropriate offer to both new and existing customers using the information found in the company’s common source database. From there, CRM personnel can study customer behavior and pinpoint service issues, among others, and devise and manage campaigns using this information. This practice, in turn, helps foster stronger relationships and build customer loyalty, thereby driving business success.
This potential is especially valuable in smaller organizations, where people often need to maximize a modest budget. What’s more, data replication can also help provide a clearer visibility of every business opportunity, from an inquiry to closing a sale to relationship building.
Robust Data as a Product
In the age of the Internet, data is already considered a valuable commodity. With a database replication solution in place, a company can increase their monetization options by deriving business insights from raw data and offering these to potential customers, especially B2B clients. The key is to develop the necessary skills in order to cleanse the data and refine it depending on the needs of the customers. Barring the distribution of confidential information and trade secrets, aggregated and analyzed data can prove to be a profitable revenue stream, as well as a valuable CRM product offering to partners.
CRM is a critical component of modern businesses. It ensures that the company has a clear view of its customers, from their history with the company to their potential revenue-making behaviors, ensuring that there is no missed opportunity. With the help of data replication, CRM systems can be made more effective by guaranteeing data accuracy and availability every single time.