Boost Customer Retention in 4 Easy Steps with your CRM
Retaining customers is vital for any business. Acquiring new customers can be quite costly so it’s important for you to keep your existing customers engaged and happy. Even a small increase in customer retention can see a huge increase in revenue, and with the right CRM you have all the tools you need to boost that retention rate.
So here are a few easy steps you can take to boost your customer retention with your CRM…
1. Customer Data in One Place
Particularly if you’re working with remote teams, it’s important to centralise all customer data to ensure everyone has access to the tools and information they need. With a bespoke CRM solution that offers third-party support, you can do just that. Integrate your existing data sets and apps in to one CRM package so that each team, sales, customer services and marketing, gets a full view of each customer.
With your whole team on the same page, with a transparent view of the entire sales funnel, there’s a greater opportunity to work collaboratively to ensure customer satisfaction and retention remains high.
2. Keep Customer Communications Personal
Your CRM stores a lot of valuable customer data, data that can be used to personalise their experience with your business. Personalisation ensures a customer feels valued – the trick is even if a customer realises they’re receiving automated marketing communications, if they see value in those communications they’re less likely to drop off.
Personalisation is the key to customers seeing value in your marketing. Use your CRM to track customer activity, preferences and behaviours to point them in the direction of products and services most relevant to them. That way when your customers receive your e-mails, they’ll know they’re getting information and offers they value.
3. Keep Interacting with Customers
If you haven’t heard from a customer in a while or vice versa, you’re at risk of losing them. It’s important to use your CRM to stay on top of customer interaction of any kind. Your CRM can be used to notify you when customers are interacting with your brand, which can include social media through third-party integration. When you see customers interacting with you on any level, engage with those customers – sales reps can extend offers and ensure any buying opportunities are tailored and timely for your customers.
4. Re-Engage Customers
While you don’t want inactive customers, they do present an opportunity to run re-engagement campaigns. It’s still more cost effective to re-engage inactive customers, as they’re considerably more likely to make a purchase than potential new prospects that aren’t aware of your offerings.
With your CRM reports, identify customers that haven’t been active in a long time but have yet to unsubscribe from mailing lists. Identify how they have interacted with your business in the past and organise them in to different mailing lists. You can then make special offers tailored to each of those lists as a means to re-engage those customers.
Make the Most of your CRM for Customer Engagement
Customer retention is ultimately one of the most profitable strategies for your business. With the right CRM at the heart of your business you can maintain an accurate customer database in one place, engage and interact with your customers to maintain satisfaction and re-engage customers that have gone quiet. Use your CRM to gain insight in to how your customers interact with your business, and how you can engage with them to build long lasting relationships.
Try a free demo of Lunar CRM to see how you could start connecting with your customers and building long lasting relationships.