Improve Your Sample, Know Your Market: CRM

Statistics are a powerful tool for any business. By providing companies with vital information about populations and markets they would like to do business with, statistics allow enterprises to make better decisions in the face of uncertainty. Let’s face it: every business faces uncertainties. Whether you are operating in a strong economy or are in the midst of a recession, companies need market intelligence to stay ahead. Market intelligence enables you to better understand existing and potential customers, thereby enabling you to develop marketing strategies that boost your performance.

Sampling is an essential part of statistics and, by extension, a vital part of the business process. Whether you work in financial analysis, sales, econometrics or management, sampling can remove uncertainties and enable good decision-making. As an integral part of market research, sampling enables companies to identify segments of the population and learn as much as possible about them. The challenge, however, is that sampling is a time-consuming and resource-intensive process that is becoming more expensive. Businesses pour lots of time and money into their market research, often with poor results. In the digital age, powerful software has allowed us to replace time- and resource-intensive activities. Now is the time to streamline your sampling work in the same way.

CRM, or customer relationship management, provides the solution to all your sampling and market research needs. Through CRM, your company can leverage powerful, customized software to collect information about your market, access advanced business analytics and utilize a variety of tools to better assess your market strategy. More importantly, it will replace your current methods of data collection and statistical analysis, which eliminates paperwork, automates your entire sampling distribution and ensures your sampling methodology is consistent.

CRM will enable you to sell more, market more effectively and prepare for the future. It will strengthen your company’s ability to gather information about its customers and analyze that information to ensure validity and statistical significance. Existing customer analysis, prospect analysis and market analysis will allow you to 1) offer products that match your customers’ preferences, 2) expand your focus to potential customers and 3) collect statistically relevant information about current and potential markets. All of this feeds into a coordinated system that links every part of your business. Data collection, analysis, reporting and marketing act as parts of an organized whole.

With CRM, sampling, distribution and statistical analysis for business have never been easier. Through CRM-enabled descriptive analysis, you will have the tools to segment and cluster your current market share, which enables you to accurately analyze patterns and trends. Ultimately, all of this means better market intelligence. It means you know more about your sample and, by extension, your market. At the same time, it means you get to save valuable time, resources and money associated with traditional sampling and statistics.

When you choose CRM, you are choosing to enter the digital age. By letting CRM sort out your market research, you now have the tools to collect better data and conduct better market research. That’s what CRM is all about.