Better customer retention
CRM solutions thrive in creating loyal clients out of first-time customers and brand members out of strangers. Customer retention not only exponentially increases the return on investment on the initial marketing; it gives businesses one of the most powerful marketing tools in any industry: word of mouth.
Customers who receive a good product are likely to recommend it, but customers who routinely experience friendly and efficient customer assistance and are invited to enjoy membership perks are more likely to advocate for a brand to their trusted circle.
This advocacy means businesses have to spend less on growing their customer bases because now that base is making multiple transactions while also bringing in new clientele of their own accord.
The customer relationship management cycle often goes like this: marketing presents a product to a target audience in hopes of a sale, once a sale occurs, customers either leave with their purchase or engage with additional services that put them in direct contact with the brand again, making it easier to market to them the next time.
CRM solutions are about cutting out the fat in sales by creating an ecosystem of transactions and moving marketing away from expensive ad and reach campaigns towards more organic engagement tactics to encourage purchases.
In this respect, customer relationship management uses support networks, additional services and add-ons to recreate value for the same customer without lowering interest in the brand. By doing this, marketing efforts shift from expansion to efficiency, lowering the cost of creating a transaction while solidifying a client base to better protect a company against future market shifts.
Customer relationship management solutions available right now
So for businesses looking to make the most of CRM, what solutions are available to them now? Well, CRM solutions firms like DNADigital offer the kind of consultancy services that can give businesses key insights into their operations and where to optimise for CRM.
Along with keen analytics, they also staff in-house CRM developers that can help create bespoke customer relations strategies tailored to each business’ needs. This, along with their tech and maintenance support packages, could represent an avenue for businesses to take advantage of one of the most effective marketing strategies available today.