The Closer - The Better - The Richer
Stay in the face of your audience
Have you ever wondered why companies seek to understand their customers? Why they want to build a healthy relationship with them? Why they are concerned with customer’s satisfaction and feedback? Or why businesses with great customer reviews attract more people than poorly reviewed ones? Well that’s because, customers are the single most valuable asset of any organization and aside the revenue they bring in; the voice they associate with your brand can either make it soar higher or crumble to pieces.
As a business that wants to build a healthy customer relationship. It is imperative that you know your customers (KYC), what they want, when they want it and how to get it across them in a short time. Gathering and stockpiling this information in cabinets are rather cumbersome and just won’t do – and this is where CRM comes in.
Customer Relation Management (CRM) goes beyond collecting information. It involves the process of organizing and managing actionable data to facilitate a working customer relationship. As such, having an effective CRM tool is a must have for any business that values customer’s satisfaction.
The good news is that CRM is not just for large scale organizations. Small and medium sized businesses can also take advantage of the data CRM provides to identify, understand and assist customers in a way that grows business revenue.
4 Things CRM can do for your business.
1. BETTER CUSTOMER SERVICE
You can gather customer information and use it to learn about your clients, keep in touch with them and create a consistent experience for them. Yes, CRM makes all these possible and goes a step further in helping you segment and send personalized emails (that can be in form of newsletters to inform them about available offers or the release of new products). This is tailored according to your customer’s stage in the buyer’s journey and sent at the right time. This helps you serve them better and stops them from unsubscribing to your emails.
2. INCREASED REVENUE AND CUSTOMER RETENTION
CRM ensures the effective coordination of marketing campaigns that can lead to a higher sales conversion rate. With the data collected, you can increase your up-sell or cross-sell opportunities, target promotions at people that have not patronized your business yet and proactively address at-risk accounts. CRM also enables you to reach out to satisfied customers at the right time to encourage repeat purchase, as well as help you introduce loyalty programs to ensure a higher customer retention ratio.
3. GAIN NEW INSIGHTS AND OPTIMIZE YOUR MARKETING
Since CRM stores all information in a centralized place. It is easier to analyze and get important information such as revenue generated, leads as well as results of your marketing campaigns. With better reporting data, you are able to understand your customer’s needs and behavior; and set up relevant promotions that will be executed at the right time. (Timing is key, especially in sales and marketing) Through this, you can make effective business decisions and optimize marketing resources in the best way to improve revenue.
4. BECOME A BETTER ORGANIZATION
By using CRM tools, you will be able to equip employees to provide customers with the kind of positive experience that pays off. This automatically means that all teams will be able to work together (collaboration) to ensure customer’s needs are met and issues get resolved in a timely manner. CRM makes you a company that treasures customer’s satisfaction.
7 out of 10 customers say they remain loyal to a brand because of their positive customer experience. Which means keeping customers happy should be your business priority and this is only achievable by investing in the right CRM to improve and grow your business.