How To Improve Customer Retention – Using CRM?
Customer retention has become vital for your business’s growth, to retain the customers you need to develop a strong social network strategy. Loyal and engaged customers are your brand’s powerful advocates. You can expect reviews from them once they visit your website, they are also capable of recommending your products and services to their peers and new customers. They are the ones who will revisit and spend more on purchases from your company.
Most important part of customer retention strategy is Customer Relationship Management (CRM). CRM plays an important role in developing valuable customer relationships and retaining them, this can be developed using a good social network strategy.
“A business absolutely devoted to Customer Service Excellence will have only one worry about profits. They will be embarrassingly large.”
-Sir Henry Ford, Harvard Business Review
Let’s have a look at a few points which will help you in improving your customer service and retention using CRM.
User Experiences To Be Personalised
It is possible for you to eliminate several repetitive tasks with the use of artificial intelligence tools, this alone will not be able to provide the comfortness to the customers as it cannot replace humans and will not be 100% successful in retaining customers.
Customers expect that someone would talk to them in person so that they will understand the customer’s point of view clearly and it will be easier for the customer’s to avail constructive solutions from the customer service teams.
“According to the survey almost 75% of the customer base believes that the companies have lost human touch while dealing with their customers.” – PWC Survey
You need to personalize user experiences to retain your customers. Customers contact a company through various channels like email, website, chat etc, also they will communicate with various departments such as customer support, operations, marketing, sales etc. CRM captures the touch points of customers with your brand and stores the customer’s data at a centralized location. The stored data pertaining to the customers can be used by all the departments if required.
For Example: If a customer has contacted the customer service department and has enquired about the prices of any product. Using the customers’ saved data, the sales department can contact the customer and pitch the product and can provide assistance to the customer if required.
Strengthen Customer Support
Whichever business you may be in, your social network strategy should consider customer support as an essential means to increase and retain customer base. Your customer retention strategy should prioritize customer support, as it is considered as its backbone.
Customers nowadays have become tech savvy and after getting connected with your esteemed brand they would expect you to provide timely customer support which is fast, accurate and relevant, with quick query resolutions in no time. CRM helps you to manage your customer queries and complaints in an effective manner.
CRM system in a way consolidates all your customer support channels, whether it be an email service, call center, chat or any other social media networks. Using CRM you can eliminate the usage of multiple channels for customer interaction and can centralize the customer service tickets to a single location.
As soon as the customer tries to interact with the customer service using any of the provided channels and sends in a request, using CRM you will be able to assign the customer’s enquiry to the relevant customer support personnel for providing ease to the customer with faster service resolution.
Through CRM you can update your customer with their query status by sending them automated emails, also automatic received emails can be sent to the customers on receipt of their queries.
For example: HDFC Bank uses CRM to track their customer choices and preferences of their offered products and services and the sales team connects with the customers based on their preferences to enhance their sales and provide required customer support.
Sol Digital is one such Digital Marketing Agency with good social network strategy, uses Toshiko – their digital marketing expert to get in touch with their customers 24/7. They have expertise in providing appropriate customer service to their esteemed clients.
Stay In Touch With The Customers
You need to stay in touch with your valuable customers so that you make them feel that you care for them and are desperate to help them in fulfilling their needs by providing them with the right product and service. To build a long lasting relationship you need to invest time on your preferred customers. But while contacting the customer you should draw a line for yourself that your frequent interaction with your client should not turn out to be a source of annoyance for him.
In the process of retaining the customers and converting them into your brand advocateS, the company should understand their requirements, preferences and expectations. This can be achieved with proper communication with the customers and giving importance to their feedback. CRM tools will help you to conduct customer service surveys in a most efficient manner.
Example: CRM helps you in segregation and segmentation of customer contacts based on demographic or behavioral data etc. The collected feedback data will be stored in your CRM automatically.
Using CRM you can improve your customer relationship and increase customer loyalty and in turn retain them and make them your brand advocates.
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