Customer Relationship Management
Customer Relationship Management deals with all the interactions between a company and its customers, with an eye toward keeping customers happy and helping the business succeed. The objective of CRM is to enable a business to learn who its customers are and what value they can bring to the business, in order to increase the business’ profit margin. By understanding customers’ needs and adjusting your operations to meet those needs, you enhance your relationship with customers and increase their loyalty. CRM helps a company offer better customer service, which in turn supports increased revenue. Strategies might include identifying customers who are most likely to respond to cross-selling or up-selling products. Another aspect might involve targeting marketing efforts for a specific product toward a specific segment of customers. “If you are losing customers to a competitor, that’s a clear indication that you should improve your understanding of your customers.”
Keeping your customers — the importance of creating loyalty! Keeping customers makes great business sense but it’s not always easy. Here are some tips on how you can keep your customers coming back to your business. The downfall for many companies is that they don’t know how to ‘keep’ customers. Studies across a number of industries have revealed that the cost of keeping an existing customer is around 10% of the cost of acquiring a new one. So, economically it makes great business sense. Putting together a good retention strategy will also lead to increased customer profitability, as the longer the relationship, the lower the account maintenance cost.
There are other key benefits to keeping a lasting relationship with customers, including the fact that long-term customers are more likely to introduce your business to others via a verbal referral, they’re more likely to purchase other products from you and if they’re happy with the service they’re getting, then why would they even think about switching to a competitor?
Make promises you can keep. It’s no good promising a customer the world at your initial meeting if three months down the line they discover you don’t have the manpower, skills or knowledge to fulfill your initial intentions. You have to make promises you can keep and be able to provide what the customer demands. Having a staff who are enthusiastic and who actually know what they’re talking about will do wonders for the reputation of your company.
Communication, whether traditional to electronic, is a vital part of keeping customers satisfied. It’s important to listen to your customers. Make sure you communicate well, too, with a customer magazine or newsletter to keep customers well-informed. An employee newsletter is also an effective way of keeping staff informed of new products, changes and good practice. We recommend Constant Contact. We are happy to handle this service for you.
Verified methods of customer retention can involve rewarding customers for their loyalty and giving them a real reason to come back to your company. Incentives could include add-ons services, vouchers, loyalty discounts or cards, special pricing and bonuses, and special gifts for ordering through a website.
Keeping customers happy should mean that actions speak louder than words. A proven effort rather than a promised commitment will put you way ahead of the competition and keep the distance.
LionSky Media is an Official Constant Contact Partner
Constant Contact’s email marketing, social media marketing, event marketing, and online survey tools help small organizations grow their businesses by building stronger customer relationships. More than 500,000 small businesses, nonprofit organizations, and member associations worldwide rely on Constant Contact’s easy-to-use, affordable online tools to create and deliver personalized, professional communications that engage casual customers, members, prospects, and passionate customers wherever they congregate online — from their email inboxes to their social networks. All Constant Contact products come with unmatched education, training and personal coaching services, and award-winning technical support. View Video
Email Marketing – Email Marketing by Constant Contact® is the easy, effective, and highly affordable way to get your message out to your customers, clients, or members—and build strong, successful, and lasting relationships with them. You’ll create high-impact email newsletters and promotions in minutes, no technical expertise necessary. With more than 400 easily-customized templates, a simple point-and-click tool, and award-winning free customer support, you can create professional, compelling messages your audience will act on. And we make it easy for you to manage your contact lists, sign up website visitors, track your clicks and open rates, and send automated communications to new subscribers. Download Free Fact Sheet
Online Survey – Online Survey by Constant Contact® makes getting your audience’s feedback simple, fast, and highly affordable—without special technical or market research skills! Get the insight, new ideas and knowledge to help meet customer needs, build repeat business, and grow your organization. Ask about customer satisfaction, new product ideas, or suggestions for your newsletter. It’s a breeze to create a survey or online poll with our easy point-and-click tools. Plus, a library of more than 60 prewritten survey templates gives you a head start. And report tools make it simple to analyze data to get meaningful results.
EventSpot – Whether a weekend cooking class, a walk–a–thon, or a hands–on workshop, events are an integral part of how you market your small business or nonprofit organization. That’s why you need EventSpot from Constant Contact. — the simple, professional way to promote and manage successful events. EventSpot handles all the details of setting up and managing your event in one complete, easy–to–use online solution: promoting your event, sending invitations, accepting registrations, processing payments, and more. Its foolproof, step–by–step design makes EventSpot a breeze to use. And because it’s an all–in–one solution, you’ll always have the details of your event covered!
LionSky offers a variety of solutions for building a cohesive Customer Relationship Service. We offer online marketing tools and services that enable easy and consistent outreach. LionSky can help you develop the right amount of effort for integration of your Social Media plan in conjunction with your Customer Relationship Management plan. Depending of the needs and complexity of the CRM and Social Media efforts, costs range from $250 to $750 per month to provide the services, or we offer training of your staff. Pricing based on yearly subscriptions.
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