How A CRM Can Improve Your Customer Relationship Management Strategy
Customer relationships are vital to your organization’s growth, so you need to manage them as efficiently and effectively as possible. Customer Relationship Management (CRM) software helps companies become more efficient and track multitudes of consumer data, ultimately helping drive sales growth and profits. These systems are typically associated with online businesses, but brick-and-mortar businesses also get positive benefits from CRM software.
But how exactly does CRM software enhance the customer’s experience?
Using the data you gather on your customers’ interests, purchase history, and preferences allows you to better tailor your products, marketing, and services to your clients’ needs. Incorporating CRM software into your overall customer relationship management strategy will help strengthen your relationship with your customers and aid in the growth of your profits. Positive experiences encourage customer loyalty, improve client satisfaction with you and your products, and reduce the loss of customers to your rivals. In fact, CRM use has been shown to improve customer retention by as much as 27%.
How CRM Software Supports Your Customer Relationship Management Strategy
Nurture Existing Customer Relationships
A good CRM system will empower your company to send customers regular emails to let them know about new products, special offers, or upcoming promotions. When you can track your clients’ activities, conversations, purchases, and special occasions, you gain the power of targeting them with the right messaging at the right time. For example, RB’s CRM software allows you to distribute personalized maintenance calendars and chemical tip sheets to customers to keep them engaged and entice them back to your store for more supplies.
New customers are critical for continued growth, but you can offset the cost of acquiring new customers through sales to your existing customer base. According to Marketing Metrics, the probability of selling to a new prospect is 5%–20%, while the probability of selling to an existing customer is 60%–70%.
When you have greater visibility into the upsell, cross-sell, and renewal opportunities in your customer portfolio, you can drive an increase in repeatable sales thanks to the continued relationship you’ve nurtured, giving your overall customer relationship management strategy a lift.
Create Personalized Communications
our CRM can also help personalize the communications you send to customers. The data gathered by your system will allow you to use customers’ first names in emails and other contacts. According to one study, 62% of customers will open an email due to a personalized subject line.
Create A Single Source of Truth
The ability of any service rep to instantly access information about a client gives your customer relationship management strategy a leg up. The support staff will know who they are speaking to when they take a call because the customer’s phone number is associated with their name. They can greet the customer by name and know the customer’s most recent purchases, so if the customer needs additional information on a product they can instantly pull up detailed information.
Discover Critical Customer Insights
Your CRM system will store data on what products your clients have purchased, browsed on your website, or inquired about on your social media channels. This information can help you understand what your customers want and what additional products they might be interested in. You can better tailor an offer on a product or send them an email about a service that matches their preferences.
CRM software can show you what matters most to your clients, so you can engage them in a way that directly relates to their most critical challenges. It also helps you scale your one-on-one relationships; as you grow, it’s more difficult to keep track of customer information to offer a customized experience. CRM software helps you manage those experiences so you can focus on other priorities.
Respond Quickly to Inquiries While Enhancing Productivity
When it comes to customer service inquiries, a report by SuperOffice indicated that 31.2% of customers surveyed expect a response in one hour or less, and 11.3% expect a response in less than 15 minutes.
RB’s CRM software automatically tracks essential customer information to determine which customers are loyal and which are at risk to facilitate more rapid responses to customer service inquiries. This auto-tracking frees up your teams from process-heavy tasks and gives them more time to connect with customers. Manual operations like hunting for contact information or entering data can be automated or eliminated from customer-related processes, streamlining your customer relationship management strategy.
Boost Your Customer Relationship Management Strategy Today with RB Software
RB’s CRM software offers all of these capabilities and much more — everything you need to not only support but boost your customer relationship management strategy.
