How integrating your CRM with Red Flag Alert will benefit your business

Why CRM integration is essential

Whether you’re a CEO, marketing director, manager, or anywhere in between, there’s a good chance you’ve had countless meetings on how to best manage your customers, contacts, leads, opportunities and lost customers.

Integrating Customer Relationship Management (CRM) software into your sales and marketing platforms is key.

What exactly is CRM software? What types of CRMs are there? How can you integrate CRM into your business data systems?

What is CRM?

The primary purpose of CRM software is to organise, track, and manage the information generated by your sales and service teams when they interact with customers and prospects. This information helps your sales, marketing, and customer service teams to better understand your customers. It also ensures that you deliver the right marketing and sales messages at the right time.

In short, CRM software is an application that is designed to help you and your business to organise all the data that you hold about your customers.

Will I benefit?

To really benefit from CRM you need basic fundamentals in place. You need to ask yourself the following:

  • How good is the quality of data I hold on my customers?

Hand on heart, how many of the customer and prospect records you hold are totally accurate? If you can’t answer ‘100%’, you need to look into solutions that can help you remain fully compliant with AML and Know Your Customer (KYC) regulations.

  • Do our staff have the ability to manually alter customer records?

If the answer is ‘yes’, the chances are you’ll have duplicate records throughout your data, resulting in reporting errors, lost customer journey tracking and countless missed opportunities.

Even the most sophisticated and expensive CRM will be utterly useless if populated with inaccurate records. The phrase ‘garbage in, garbage out’ has never been more appropriate.

To achieve the maximum ROI from your CRM you need to ensure that manual editing is not an option, and that it is integrated with a data source that constantly and automatically updates your customer and prospect data so your people always work with accurate customer records. Red Flag Alert’s Business Intelligence platform integrates seamlessly with any CRM via our API, removing the need for manual intervention and ensuring data accuracy. And once you’ve solved your data accuracy problem, you’ll be in a better position to make progress with marketing and sales.

Red Flag Alert will also allocate each of your records with a live credit score, allowing you to focus on those prospects that are in a position to do business and are likely to be around for the long term, improving sales efficiency by cutting down time to sale and reducing credit risk to your business. Our API also provides access to our cutting-edge Anti-Money Laundering solution so you and your business will be protected from that area of risk too.

What types of CRMs are there?

CRM applications come in two basic varieties: software and service. There is a wide range to choose from, depending on the needs and size of your business. CRM software installs on your computer or server where the data resides. With CRM software, you will typically pay an initial set-up fee and then an ongoing fee to access these services, but you can access them from any computer or mobile device, which is useful if you have people on the road.

Regardless of which CRM software you use, the objectives are reasonably similar:

  •    Improved customer communication and retention rates
  •    Increased company profitability
  •    Targeted marketing
  •    Increased business focus
  •    Enhanced customer and prospect tracking

What is CRM integration?

In a nutshell, CRM integration is ensuring your website and CRM function seamlessly together. Instead of using your CRM as simply a way to retain customer information based on manual entries, integrating your website and marketing automation software brings valuable customer information directly into your CRM and removes the need for human intervention.

For example, let’s say a prospect downloads a recent whitepaper from your website. This ‘prospect’ is given a lead score (based on a grading structure you’ve put in place in your marketing automation software). If your marketing automation software is integrated with your CRM, a new record will be created and assigned to a sales person for a follow-up, allowing them to have an informed discussion with that prospect.

Via the CRM your sales team will be able to pinpoint when a lead last visited your site and what information they looked at, so they have relevant information upon which to base their conversations–a strategy that will help to increase conversion rates.

To find out more about both our API and Anti-Money Laundering solutions, please click here