Customer Retention CRM is a term not often used but crucially important.
It is pointless filling a bucket with a whole in it. New business is sometimes acquired at the expense of keeping existing clients satisfied. It should always be remembered that in business today an existing Client may be in a position to influence another client to buy from you tomorrow.
Having an approach focused on Customer Retention strategies will encourage your team to provide the same high standards of service to your existing customer base.
Some companies consider CRM as simply a software solution that extends sales and service functions in order to improve results. Other companies consider CRM as an essential business tool specifically designed for one-to-one client focussed communications. As a result it is seen to be the sole responsibility of sales or service, call centers, or marketing departments.
The reality is that CRM is not merely about technological applications for marketing, sales and service. When fully and successfully implemented, CRM is a cross-functional, customer-driven, technology-integrated business process management strategy that maximizes relationships and encompasses the entire organization.
Some companies will forever be using excel spreadsheets to manage enquiries, orders and the delivery of services. Those who embrace CRM will see increased revenues and lower operational costs.
Consider the essential business processes your team manage on a daily basis, look at where delays can occur and consider how you can overcome them. Now look at the event as a process and consider what caused the momentum to falter and how you can overcome this.
A good Customer retention strategy will learn and evolve over time. It is essential that your selected CRM partner is flexible and available in your working day to assist with alterations as they are agreed. Avoid at all costs the CRM Consultancy who answer to shareholders as they will forever have two masters.
A good mix of the right people, a well defined process and not overly relying on technology you cannot control will often lead to a good outcome.
In Summary :- Customer Retention CRM is ideally seen in the context of renewing the focus on the value of existing business customers.