The biggest factor that drives a business’s growth is Customer. Customers play a very vital role in the growth of any business. They are the ones behind who the business runs. But what kind of customer does a business require?
If any business wants to grow, they have to focus on two things. First gaining new customers and second, retaining those customers. Remember – “Make new friends, but keep the old ones. One is silver and the other is gold.” A long term customer is much more valuable than a single deal customer. And it is less expensive to retain a customer than to gain one.
A long-term customer ultimately becomes a loyal customer. This is the greatest customer in the customer hierarchy that you can have.
“Loyal customers, they don’t just come back, they don’t simply recommend you, they insist that their friends do business with you.” –Chip R. Bell.
Therefore all businesses should try to get loyal customers, but loyal customers are not available in the market. Loyal customers are the ones that you have to create for your business.
You cannot gain a loyal customer by providing goods at a lesser price, instead, a customer is converted into a loyal customer by the experience that they receive. You have to keep up with their increasing demands, or they will leave you.
In fact, customers are willing to pay more just to receive better customer service. So, the main goal of all the businesses should be to convert the customer’s journey in the sales pipeline, as pleasant as possible, and flawless. And for you will first need to know the customer. This is where you need a CRM tool to manage all the activities related to the customer.
Customer Relationship Management:
Customer Relationship Management is an approach that allows the company to manage and analyze their interaction with the customer, whether they are a past customer, a current customer, or a potential customer.
CRM is a software that is used to save the contact of the customer and to create a task of the same. Once the task is created and the contact details are attached if contact is made with the customer using any communication tools, whether, over the call, face-to-face, or via an SMS, the details are to be commented in the task and therefore there will be a detailed history of all the interactions with the customer.
If you create a sales pipeline, .i.e. Lead, Lead Qualifies, Meeting, Proposal Sent, Deal Lost, and Deal won, the tool can also estimate the leads that can be won or lost. You can see all the details in a chart form and therefore you can easily analyze the data.
The biggest benefit of using CRM is that it improves your customer interactions as you have all the details in your hand and you know what they want and what they have discussed, this improves your customer service, which in turn improves customer satisfaction. Because, after all, customer experience is the most important aspect of any business.
Here are some points on why all the businesses should consider customer success as the heart of their business:
- It boosts customer satisfaction.
- It reduces customer churn.
- It increases your business’s profit and sales.
- It boosts customer loyalty.
- It helps in building solid customer relationships.
- It provides your business with a competitive advantage.
The Right CRM:
The CEO of Pick Writers mentions that “CRM helps business owners learn about their customers’ behaviour. CRM will provide information about why the customer is buying from you and what the customer expects from you in return. It also helps you in tracking their purchase history and gives you insights about what strategy you should apply to keep them loyal to your brand.”
The reason for your not being able to achieve all this could be that you are using a CRM that doesn’t cover your business project roadmap. You cannot use any CRM for your client management as you should choose the software that fits right for all your needs. These CRM’s depend on the sales rep to insert the data and information in them.
The CRM system can also be integrated with your website and thus, you can track the browsing behaviour of the customer and can create 360-degree data for them. When you get inquires, it can also route them to agents, so that most of the work is automated and efficiently allocated.
Therefore you should choose the right CRM according to your business type.
Here are 5 ways CRM improves your customer experience:
- Keep in touch with the Customers:
Suppose you have 100 customers and you have to contact 10 customers every day, would you be able to contact them regularly and maintain all the chat that you have effectively?
This is the reason why CRM is so useful. You can have all the details of the contact and of all the interaction in one place. You just have to open their task in CRM and you get access to all the information from start to end. You will know where you left off and you can directly start from there.
You can also set the date and time, and therefore, the software will remind you who you have to contact and when. There are automation features too in certain CRM and therefore you can just automate the mails and the system will send mail every day to your clients.
- Personalize your communication:
According to Campaign Monitor “, 72% of customers open an email due to the discount it offers, and 62% of customers open due to the personalized subject line.”
As you have detailed information about each and every customer, you can easily personalize your emails and calls and therefore, the clients will have a feeling that they are important to you and therefore this will favour their unconscious mind towards buying your product or service.
You can also save the important days of your clients like their birth date and so on, and you can send them special discounts or gift coupons to make your service more exceptional.
- Create Consistent Experience:
Consistency is what people expect when they visit you. Franchises work this way and consistency is what makes them so popular globally. You can go to any franchise, you will get the same products and services there. With CRM you can do the same.
Let’s say someone has filled a form online. You can set an automation that whenever someone fills the form, the CRM will shoot an email to them. You can send small messages like – someone will contact you soon. The system will then automatically assign the task to someone according to your project baseline. This ensures that no lead is left behind and you serve all the customers that come to you.
- Efficient Team Management:
This is all about providing smart service.
Some customers are in your premium category and shop with you daily. They buy various high priced products of yours. And then comes the customers that are loyal to you but buy from you on occasions and after that, there are customers that visit you once a year or quarterly and rarely buy from you.
Don’t you think that sales reps, benefits, and loyalties should be provided differently to these customers?
This is how you can create different sales teams according to the data collected in the CRM and can pitch different categories accordingly.
- Business Expansion:
Everyone wants to expand and grow their business. But when you are overwhelmed with work like analyzing the customer data and creating their history, you just don’t have the time to plan for the expansion strategy.
CRM does this work so you can give yourself time to focus on other important work.
Plus, you can use the valuable data and analysis of the CRM to make and plan many important decisions of the business too.