Your customers are one of your most valuable business assets. It’s worth getting to know them better with a Customer Relationship Management system (CRM system).
There comes a time when you need to upgrade from your basic customer contact list or that mess of convoluted spreadsheets. Often, important customer data is locked away in these documents. Meanwhile, other key information is haphazardly spread across notes on individual computers and handheld devices. It could even in people’s heads. You can lose that valuable information when sales staff leave.
A CRM system goes far beyond storing simple contact details. It helps you build up a detailed real-time view of your customer base. It may be tightly integrated with your other business systems, to ensure you’re turning all that data into actionable business insight.
How you can use a CRM system
By leveraging the power of a CRM system you can spot trends, search for sales leads, manage your sales pipeline and watch for potential churn. You can also enhance your customer service efforts by ensuring support staff always have the information they need at their fingertips.
With CRM you can orchestrate your up-selling and cross-selling efforts strategically. This is better than taking a shotgun approach and risking alienating some customers. There’s no need to take a heavy-handed approach, or hassle your customers with irrelevant deals. Once you can recognise which customers will be most receptive to your offers, you’re in a great position.
A CRM system also offers insight into customer lifecycle and lets you manage this every step of the way. You can track key milestones in a customer’s lifecycle, such as when they reach new usage levels or access new features. This lets you recognise the opportune moment to act. For example, you might offer an upgrade trial or alert them to new features and services that make your offering more attractive and sticky.
Other CRM system considerations
Of course, not all churn is bad and your most valuable customers may not necessarily be the ones spending the most money.
This is where the insight of CRM becomes invaluable. You can ensure you’re not wasting your marketing and post-sale efforts in attracting and retaining the wrong customers. At the same time, you can manage customer loyalty programs and look for other ways to reward loyalty from the right customers.
Don’t take your customers for granted, it’s worth making an effort to understand them better.