|Source : https://bit.ly/1fWEL8v
The importance of customers in the context of the healthy functioning of a business need not be overstated. But the sad fact is that customer retention is a field where most companies leave a lot to be desired. So, why do exactly customers abandon their previous suppliers?
Free CRM software for small businesses Facilitates the process of keeping and the upward slant of the profit graph. They build strong relationships with prospects and customers alike and even manage them. This reduces the marketing expenditure as there is less pressure to find out new customers. The importance of CRMs thus assumes prime importance for reasons that are all too obvious. CRM’s lets the company know what is it exactly that a customer wants and deliver accordingly and in time.
The Reason Behind Poor Customer Retention
There are many reasons that prevent customers being customers anymore. It is found that about 34% of the time they change localities or the company or client goes out of business. Customers may also flock to other companies which is another main reason in this 34%. But what about the rest. Why do they leave? Unfortunately, it has been found they feel just ignored, plain and simple. There is little or no customer interaction. However, with affordable CRM software solutions that reason may easily be overcome. CRMs help in various ways:
As per Forbes acquiring a new customer is 6 or 7 times costlier than retaining an existing customer. So, companies should try to retain customers for as long as they can.
When you want to increase productivity, you can just not let automation keep out of the equation. If you don’t have a CRM system in place, then your sales team is still likely to record data manually and search out different files as and when needed. CRM’s automate the whole process giving you all the data you need at the click of the mouse. There is simply no need to waste time by using manuals procedures of doing tasks related to customer relations. This will increase the efficiency of your team and ultimately make it more productive. They can use the saved time to follow up and warm up to leads, thereby acquiring more customers and generating more revenue.
Quality of Customer Service Increases by Leaps and bounds
According to studies only a small fraction, 7%, to be precise follow up on their leads gathered from the internet within the hour. It is a little secret that the sooner you follow up on a lead the more chances you have of converting them to customers. This leads to the undesirable scenario of the availability of plenty of wasted leads. You need to get to them fast and put on a good show about your product. As you well know rival companies are breathing down your neck. CRM’s help companies to follow up leads in real time. They send out reminders for following with leads and customers. This gives you a chance to start the relationship with the prospective customer on a solid footing These are just some of the benefits that make CRM’s your trusted allies in running your business.