Customer relationship management (CRM) software does as it name implies. It helps you to better handle and manage your relationships with your customers. This includes supporting them, engaging them, and retaining them. As a result, your business grows and becomes more profitable.
CRM brings agility to the way you handle customer data. Data is essentially endless and constantly changing. As you grow and build relationships with customers over time, the way you handle this data, the efficiency and speed with which you store and access this information, will be vital to your growth.
Unless you have a supercomputer for a brain, you need help storing and sifting through this mass of data, especially data about your customers. Retaining customers is just as important as finding them. However, consumers who are customers are more valuable to your business as opposed to consumers who may potentially be your customers.
It goes without saying then that your efforts to find new customers must match your efforts to keep your existing customers still engaged and happy. CRM is software that requires little more effort on your part to maximize the productivity of your business while minimizing your task-time and mistakes.
This means you don’t have to decide on whether to invest in retaining customers or marketing to find new ones. You can do both with CRM, without losing time or money. For instance, an email marketing campaign can be automated so that emails can be specified and personalized to both leads and existing customers. The information you share can be tailored to suit the goals of the conversation whether it’s to convert a lead, up-sell to an existing customers, or to reengage any inactive users.
Existing customers have a better idea of your service than prospects do, so your strategy to retain the former must fall between engagement and support. Support is perhaps the most overlooked aspect of most businesses. But without consistent support, customers are liable to go elsewhere.
So support should be always be a top priority. A large portion of it can be automated and handled by the right software without having to do much more work. For instance, CRM can automate support emails to reply with answers to any common questions or to inform the appropriate employee to settle the issue quickly.
Because it’s automated, replies are nearly instant. This allows most problems and questions to be quickly solved and answered. Until then, CRM will update and alarm the appropriate reps with any status changes or new information. This reminds and helps employee handle any problems or inquiries promptly and with haste.
Engaging your existing customers keeps them interested in your product and business. Because CRM stores every piece of data about your customers, you can tune the content you share and the discussions you drive to the interests of your customer base. This gives you more opportunities and a better chance to up-sell to your existing customers.
For instance, having data about customer behavior and comparing it with data on individual customers will help you decide what you should market and how you should market it. With this information you’ll be able to reach each industry and customer type your business markets to and engage them in ways that relate to them.
Customers leave for two reasons: dissatisfaction and inactivity. This means you have to always vie for the attention of your customers by providing useful content that helps or interests them. For this to pay-off, you then need to continue selling products or services to existing customers, otherwise they’ll cease being customers.
Up-selling is a part of the retention process. CRM makes it easier and better organized. You’ll know the best time to do it and the best way. In fact, throughout the whole retention process CRM helps your business with growth and customer’s satisfaction.
Happier customers and solid growth are two factors in a company’s profitability. To find out how you can automate most of the job and reach out better and engage with your customers, contact us.