CRM - Techniques and Strategies for Customer Retention

There has been a constant uprising of digital media along with the empowerment of customers through the media and internet. The rising penetration of smartphones and access to the internet has made customer aware of the marketing trends. Customers are now very finicky about their needs and tend to choose between a variety of products. Hence, it is essential to maintain a healthy relationship with your client by developing a customer centric framework. 

A customer centric framework designed in such a manner, that it caters customer needs as well as boosts your revenue. The idea should be to engage customers through your marketing and thus drive maximum benefit. This is where CRM steps in, offering a great value. Researches have shown that the basic objective of Customer Relationship Management (CRM) is to analyze customer interactions and data throughout the customer life-cycle. They aim at improving business relationships with customers and also to improve customer retention.

Let’s quickly glance through the ways CRM can help in this ongoing digital revolution:

• By Increase in Sales Productivity: A recent study by Nucleus Research found that mobile access to a CRM increases sales force productivity by an average of 14.6% of a further 3 in 10 mobile CRM users reporting productivity improvement of more than 20%.
• Improved Customer Experience: A CRM helps you to identify your customers need, address them and provide a hassle free environment. It also gives you an idea of whom they are dealing with since the very beginning making them more efficient and productive.
• Be it a small or a large business, they are going to have busy schedules and therefore not being able to track and analyze the buying habits of your customers. Don’t worry CRM will do that for you! CRM helps in the analytics by providing an automated analytics and reporting.
• Coordination and Cooperation: In CRM platform; sales, marketing and customer service share a common CRM platform. They coordinate, cooperate, and share the same language with each other. They all work as a single unit and know what the goals are and how to attain them.