A CRM makes revenue more predictable by providing better insight into the relationships between buyer attributes and purchase patterns.
The past is the best indication of what the future holds for us. That is why history is such an important subject in all primary education. A CRM Makes Revenue More Predictable.
Of course, past performance is no guarantee of future results (as all advertisements for financial planners will state) the truth is that we only have the past to consider when predicting the future. Therefore it is critical to make sure that we are carefully considering past performance indicators and using them to project into the future. Things like seasonal sales cycles must be considered, of course, however there is a whole additional dimension of information that is often overlooked. That is demographics and psychographics.
Demographics are the attributes of consumers that relate to variables such as geographic location, educational background, income, number of children, size of home, type of car, etc. These are external attributes that tell us a lot about people and what they are interested in. But there is an additional set of variables that are equally important more often overlooked. Psychographic variables.
Psychographics is defined as the study and classification of people according to their attitudes, aspirations, and other psychological criteria. This means that by finding out what motivates people we can better understand how to communicate to them on a level and with a message that they are more likely to notice and respond to.
There is a correlation between demographic variables and psychographic variables. For instance, people with large houses and high value cars tend to be people who desire recognition. Alternatively, people with high income and high education but who live in less expensive homes and drive cars that are less expensive tend to value life quality and personal relationships. The above two examples are very basic but they illustrate key differences. The first group of people are likely to respond to messages where there is a clear implication of status and recognition. The second group of people are more likely to respond to a message that emphasizes family relationships and creative endeavours. Sending one message to the other group will result in lower responses.
A CRM Makes Revenue More Predictable
By collecting the right kind of information about the customers you have already acquired you can better predict who to target with future messages and you can research and identify the markets and mediums that are best for sending those messages. Also, by knowing who in your database fits each profile you can better target former customers and generate new sales. Former customers also tend to be the lease expensive to reach and the most likely to spend money with you so they represent a particularly rich source of future revenues.
Helping business owners analyze their sales and marketing processes is what we do here at Aprico Rocket. We also help design new processes so that it is easier to generate and manage potential customers as they move from potential to actual customers.
Give us a call a t817-569-0494 for a consultation. We are always interested in talking with you.