The potential of data analytics for rail organisations
21st June 2019
CRM certainly has its fair share of plus points – for your customers, your employees and your company. But there’s so much more potential than is often realised. We’ve often mentioned the marked improvement in customer service, and therefore on customer satisfaction and retention, that an effective CRM system, such as Passenger 365, can provide. The employee-friendly interface collects and displays all data regarding customers, including personal details, past purchases, spending habits and travel history, facilitating improved customer interaction. The system can also incorporate marketing, reporting and management.
The use of data analytics within your CRM package unlocks a whole host of additional benefits. Simply put, CRM analytics comprises all programming that analyses data contained within the CRM system. This is presented by the software in formats that are easy to read and understand, offering valuable insights. The system can also be programmed to automatically carry out certain functions in specific circumstances.
Improved forecasting and informed decision making
Use of CRM analytics vastly improves your ability to forecast and track many things, including sales. Predictive modelling allows you to compare different plans, in terms of likely future success. It can also identify trends, showing where opportunities are, as well as showing what’s working well, allowing informed decisions on where time and money is best spent.
It’s possible to see how often problems arise with a product, such as a particular journey – which in turn allows improvements to be made.
In short, the system allows you to adjust your strategy according to real-time information, taking the guesswork out of decision making.
More effective marketing campaigns
One of the biggest benefits of CRM analytics is the ability to create targeted marketing campaigns based on customer analysis. It’s possible to predict which customers are likely to buy a certain product and focus any material on them. After all, bombarding a customer with information on a service or product that they aren’t interested in, is only going to make them feel disengaged.
It’s also possible to calculate the ‘value’ that a certain customer may provide to your company over time, allowing you to direct the correct amount of resources to them.
Analysis can show which campaigns have proven most effective overall, and for specific target audiences. This is invaluable, giving your marketing team the ability to improve on campaigns time after time, and maximise return on investment.
Increased customer satisfaction
As mentioned already, the use of CRM improves customer satisfaction. Evaluation of your company’s customer service through CRM analytics flags any issues, allowing you to make further improvement. Access to real-time reports which highlight any customers lacking in the support they need, mean that this can be remedied.
Analysed data allows you to ‘learn’ about your customers, meaning that you can better anticipate their needs and fulfil them. Tracking which passengers may have been affected by a problem or interruption allows customer service staff to address the problem directly, which makes for an improved customer experience.
Optimize employee & team performance
The performance of each employee or team can be analysed and tracked, and trends can be identified, allowing any issues to be addressed – for example, this would flag up whether an employee requires training in a specific area. Conversely, it would also show the highest performing teams and individuals, allowing them to be recognised, therefore increasing motivation.
It’s possible to see which teams are on track to reach their goals, and by what margin, greatly assisting managers with staff coaching.
There are so many advantages to the use of CRM systems, over and above the initial efficiency provided by the system. The use of analytics can be a game changer in the way you run your business.
Passenger 365 is a CRM system optimised specifically for rail companies. Customer services, repair management, incident management, marketing and reporting can all be brought together under one system, and it can be customised to suit your particular needs. If you’d like to know more about the benefits, then please get in touch with us at ixRM, as we’d love to help.