29 January 2021
There is so much competition for businesses today. Customers are always looking for the next best and innovative product that’s available at an affordable price.
When it comes to gaining more sales, businesses should focus more on their existing customers than attract new customers. That’s because 91% of customers are more likely to shop from brands that they remember, recognize, and who provide relevant recommendations and offers.
This means brands should also make customer retention their priority. Fortunately, you can do this all with your CRM system. Here’s how.
Create tailor-made offers
All of your customers are different, but they have one main thing in common: a purchase/consumption pattern. You can use your CRM to identify behavioral patterns and past order history. You can use this data to target existing customers in different offers.
Data-driven marketing not only enhances brand recognition but also keeps your ads relevant, so you’ll make your ROI and increase sales.
What kind of ads should you create? Offers and discounts are great ideas, but make these ads tie into different buyer purchases and behavioral patterns. This way, you build better relationships with your customers.
Build a comprehensive customer journey map
How do you translate the data your CRM collects? Use this data to create a customer journey map for client retention.
Customer retention journey maps are slightly different from the traditional journey map. They have the same keys (awareness, engagement, purchase, post-purchase involvement), but this journey never ends.
How do you know your customers are completing the journey map and are returning for future purchases? Choose the best CRM to continue collecting data as well as touching on interaction and engagement points.
What if your engagement rates are decreasing? 83% of customers say the overall experience is a significant factor when selecting a service or product. Use your CRM to help you improve the customer experience.
You’ll also want to find ways to make your buying process more convenient and use the latest technology to engage your customers.
Personalize any interactions
90% of marketers say personalization significantly contributes to profitability. Nothing fosters a relationship better than personalized interactions, making this the biggest focus when communicating with customers.
Don’t worry; you can automate personalized interactions. Your email marketing campaign can send promotional emails tailored to your customers (as well as birthday emails). If you offer an app, send customized push notifications to users based on their behavior.
How do you gather this information? Prompt customers to create a rewards account (for free, ideally) and enter information such as their name, contact information, birthday, and hometown.
You can store all of this information in your CRM. This way, you can automate all interactions and boost your ROI.
With that being said…
Create loyalty programs
Loyalty programs do more than make the personalization process easy. A loyalty program will help your customers continue shopping with your brand.
Loyalty programs work by offering incentives and rewards with every purchase they make. Most brands offer sign-ups for free and only ask for basic information. You can store this information in your CRM, using it to create personalized campaigns and easily track buyer shopping and spending habits.
Customers who join your loyalty program not only become your most devoted customers but your most profitable customers. This is why a loyalty program is an easy way to convert customers and increase buyer retention.
Ask for feedback
Requesting customer feedback is easier now than ever. All you have to do is email a survey or attach a feedback form on your website, and your customers can reach out. You can also track reviews to discover what your customers are saying about your brand.
Did you know asking for feedback is an excellent customer retention strategy? If your customers identify any shortcomings, resolve them. When customers see that you listened to their concerns, they will be more than willing to continue supporting you.
How can you use CRM for customer feedback? You can optimize your platform for review execution. Pinpoint areas that need improvement and make those areas your next main focus. Your CRM can also identify a percentage of issues that you resolved, ensuring you accomplish your goals.
Offer sneak peeks
Your most devoted customers want to be apart of your business. If you’re offering a new product or service or improving on an existing one, offer sneak peeks to loyal customers. Your customers can try your product before anyone else and can submit their insights and advice.
Customers will appreciate more than trying the product. They want to have a say in your product production, creating a product specially designed for them. You can ensure you connect with your customers, and they will continue supporting your brand, and they will take advantage of your products.
The customer service landscape is increasing. Customers don’t have to call a helpline and sit on hold for hours — customers now have online resources to answer their questions.
Common multi-channel support examples of implementing include a FAQ section, resource center, live chat, and a contact form on your website.
A robust CRM can also improve your customer service experience when a customer contacts your business. The CRM stores their information to identify any past interactions with your company and how you helped them.
Offering several different customer service channels will engage customers and ensure they offer a support medium that fits their preference. They know you will always answer their questions, making them want to continue supporting your brand.
Are you looking for a CRM?
Customer retention will help your business grow and will increase your ROI. A CRM will come in handy for the different customer retention tactics you need. With so many CRM platforms out there, it’s integral you choose the best to maximize conversions.
Our platform will power your sales team with rich and updated information. Click here to learn more about our software as well as our data consulting and data integration services.