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CRM strategy: build and maintain customer relationships

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9 tips to build and maintain customer relationships · #1. Communicate regularly · #2. Make it personal · #3. Develop and implement a CRM strategy. Skiptocontent Today,buildingameaningfulclientbaseismoreimportantthanever.Buthowdoyouactuallymaintaincustomerrelationships?Recentstudieshaveemphasisedthestrongcorrelationbetweencustomersatisfactionandretention,aswellastheimpactthatacquisitionandretentioncanhaveonacompany’sfinances. Whenitcomestocosts,acquiringnewcustomersisfivetimesmoreexpensivethankeepingexistingones,andtherecentarrivalofGDPRhasmadeacquisitioneventougher.Sincetheregulationscameintoforcebackin2018,individualshavebeenrequiredtoactivelygiveconsentbeforereceivinganymarketingcommunications,meaningthatbusinessesnowneedtoworkmuchhardertoattractandretaincustomers. Whicheverwayyoulookatit,buildingandmaintaininglastingcustomerrelationscanbeatrickybusiness.Withthatinmind,we’vecompiledsomeusefultipstohelpyougrowandretainyourhard-earnedcustomers. 9tipstobuildandmaintaincustomerrelationships #1.Communicateregularly Goodcustomerrelationsrelyonregular,meaningfulcommunication.Startbydevelopingasuiteofcommunicationsthatcanbesenttoprovideyourcustomerswithfrequentinspiration.Thecontentofthecommunicationswillvarydependingonyourcompanytypeandsizebutcanincluderegularnewsletters,toptipstogetthemostoutofyourproductorservice,promotions,newproducts,contractexpiryremindersandsurveyrequests.Providingapreferencecentrewillallowcustomerstocontrolwhichcommunicationstheyreceiveandhowoften. #2.Makeitpersonal Effectivepersonalisationgoesbeyondsimplyaddressingrecipientsbytheirfirstname.Itinvolvesmakingthemostofdetailsyouknowaboutacustomertobeabletocommunicateinarelevant,personalisedandtimelymanner,suchasproductrecommendations,ordernotifications.Havingathoroughunderstandingofyourcustomerwillhelpyoutoachievethislevelofpersonalisation. #3.DevelopandimplementaCRMstrategy ACRMstrategytailoredtoindividualcustomersegmentswillhelptoensureyouarecommunicatingeffectivelywithyourcustomersandtheirindividualneeds,ratherthanhavingone-sizefitsallCRMplans.Implementationofacontinuoustestandlearnplanwillensureyoucontinuallyoptimisetheperformanceofyourcampaigns. #4.Provideoutstandingcustomerservice Inanutshell,thisinvolvesdeliveringyourproductorserviceinawell-executedmanner,meetingcustomerexpectations,andgoingaboveandbeyondwherepossible.Consistencyiskeytoo.Yourcustomershouldreceivethesamepositiveexperienceinashop,onlineorcallcentre,easy,clearandhassle-free.Goodcustomerrelationsarebuiltonrespectandhonesty,andultimately,shouldofferapleasurable,straightforwardexperiencefromstarttofinish. #5.Recogniseandreward Recogniseandrewardyourcustomersbymakingthemfeelvalued.Providecustomerswithmemorableexperiencesthatgiveapositiveperceptionofyourcompany-agesturethatcanbeanythingfromasimplethankyou,toafull-blownloyaltyrewardscheme.Theaimisforthecustomertofeeltheyhavereceivedsomethingofvalue,thathasbeentailoredtothemandnooneelse. #6.Capturefeedback Measurementofcustomersatisfactionandloyaltywillhelpyoutoimproveandcompareyourselvestocompetitors. Itcanalsobeusedtoincentiviseyourstafftokeepprovidinghigh-qualitycustomerservice.NetPromoterScore(NPS)isacommonmethodofmeasuringloyaltyandahealthcheckoftheoverallrelationship. Surveyingcustomersatkeytouchpointsintheirjourneywillalsoprovidevaluableinsightintokeydriversofsatisfaction,orconverselydissatisfaction,withyourproductsandservices.Customersaremorelikelytoberesponsiveandhappytoprovidefeedbackiftheyknowitwillhelpyouimprove. #7.Managecomplaintseffectively Seecomplaintsasbeinggoodforbusiness!Theygiveyouagreatopportunitytoturnanegativeexperienceintoachancetodelightyourdisappointedcustomer.Thecomplaintmayalsohighlightanareaofdissatisfactionforothercustomers,allowingyouthechancetorectifythewiderproblem. #8.Reducecustomerattrition Putproactivemeasuresinplacetoidentifyandmanagecustomersatriskofleavingyourbusiness.Useofpropensitymodelswillhelptoidentifychangesinbehaviourthatsuggestacustomerhasahighpropensitytoleave.Byhavingaclearunderstandingofthelifetimevalueofeachofyourcustomerswillhelpyoutofocusyoureffortsonretainingprofitablecustomers. #9.Winthemback Re-engagewithcustomerswhodochoosetoleave.Remindthemwhytheyshouldpurchasefromyouandofferincentivestocomeback. Wrapup Thekeytolastingcustomerrelationsistoprovideaconsistent,outstandingcustomerexperience.Getthebasicsright,andthenenhancetherelationshipwiththoseaddedextrasthatsurpriseanddelightyourcustomers.Respectyourcustomersandbepreparedtoacceptresponsibilityandapologisewhenthingsdon’tgoassmoothlyasyou’dhoped.Inreturn,yourcustomerswillbecomeloyalandcontinuetorewardyouwiththeirbusinessaswellasbeinggreatadvocates,recommendingyoutoothers. Sources https://www.superoffice.com/blog/customer-experience-statistics/ https://econsultancy.com/blog/63321-companies-more-focused-on-acquisition-than-retention-stats https://www.netpromoter.com/know/ Strugglingwithcustomerchurn?Keepyourvaluablecustomers Getintouch OurBlog-stayuptodatewithallthingsWebalytix CRMistheworld’slargestsoftwaremarket,andgrewevenmoreunderlockdown ByIrinaObrazcova | July21,2020 In2017,customerrelationshipmanagementsoftwarerevenuereached£31billionandbecametheworld’slargestsoftwaremarket.InthisblogwediscusstheadvantagesofeffectiveCRMtoolsincludingincreasedsales,salesproductivity,salesconversionratesaswellasimprovedlevelsofcustomerretentionandsatisfaction.FindouthowyourbusinesscanleveragethepowerofCRMsoftware. ReadMore UsetheLockdownLulltoSpringCleanyourData ByLibbyPlowman | May21,2020 Thelockdownhasinspiredaspring-cleaningtrend,sonowyourhouseisinorder,howaboutrefreshingyourdatatoensureyougetthemostoutofit?AreyourcustomersfeelingvaluedorcouldtheydowithsomeTLCtoo?Herearesometipstohelpyougetstarted. ReadMore AutomatingRFMsegmentationandlabour-intensivetasks ByIrinaObrazcova | May10,2020 Withtheadvancementofmachinelearningandartificialintelligence,automationisbecomingmoreandmoreprevalentwithinthebusinessworld.However,thereisstillabiggapinourunderstandingofjusthowmuchcanbeautomated.WhatisRFManddoesyourbusinessneedit? ReadMore Goldilocksandthethreestepstounderstandingmachinelearning ByIrinaObrazcova | March15,2020 It’sahottopiclately,butformany,machinelearningisstillabitofapuzzle.Thispostlooksatthekeycomponents,debugginganddemystifyingwhatisoftenseenasanoverlytechnicalconcept,aswellasofferingsomepracticalinsightsintohowitallactuallyworks. ReadMore Simpson’sParadoxandsegmentation:whyanalysisiscrucial ByIrinaObrazcova | February10,2020 Simpson’sParadoxreferstoadataphenomenonwhereatrendexistingingroupsreverseswhenthedataisstudiedasawhole.Whenitcomestoanalytics,understandingthisparadoxisvitalsinceitcancompletelyalteranyinsightsgainedfromthedataitself.HowdoestherelationshipbetweenSimpson’sParadoxandsegmentationapplyinbusinesssituations? ReadMore Weusecookiesonourwebsitetogiveyouthemostrelevantexperiencebyrememberingyourpreferencesandrepeatvisits.Byclicking“AcceptAll”,youconsenttotheuseofALLthecookies.However,youcanchoosewhichcookiesyouwanttoagreetobyclickingon"CookieSettings".YoucanlearnmoreaboutthecookiesonourwebsiteandhowweusetheminourCookiePolicy.ReadMoreCookieSettingsAcceptAllManageCookieSettings Close PrivacyOverview Thiswebsiteusescookiestoimproveyourexperiencewhileyounavigatethroughthewebsite.Outofthese,thecookiesthatarecategorizedasnecessaryarestoredonyourbrowserastheyareessentialfortheworkingofbasicfunctionalitiesofthewebsite.Wealsousethird-partycookiesthathelpusanalyzeandunderstandhowyouusethiswebsite.Thesecookieswillbestoredinyourbrowseronlywithyourconsent.Youalsohavetheoptiontoopt-outofthesecookies.Butoptingoutofsomeofthesecookiesmayaffectyourbrowsingexperience. Necessary Necessary AlwaysEnabled Necessarycookiesareabsolutelyessentialforthewebsitetofunctionproperly.Thesecookiesensurebasicfunctionalitiesandsecurityfeaturesofthewebsite,anonymously. 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