All business owners need to build a long-term relationship with customers to flourish their company quickly. To start with, you need to establish contact with customers, understand their needs, help them get the requested services ASAP and create a positive customer experience. With long-term relationships with customers, you can continue to offer your new services or goods to them and guarantee of a stable income every day, week, and month. A good CRM software can help you manage a long-term relationship with customers. Let’s see how.
A Great Help in Business Marketing
Let’s talk about business marking at first. While cooperating with clients, the main goal of marketing is to increase the recognition of your product and ensure its sale in bulk. As a matter of fact, Marketing activity is generally the first point of contact with a potential client and the beginning of client relationships. So, you can use CRM to fine-tune the activities of your marketing team, tracking the effectiveness of campaigns in different stages of the marketing funnel, determine what’s working for you or what’s not.
The excellent suitable indicator for tracking your business marketing campaigns is the return on investment (ROI). Both free and premium marketing have one common goal – sales generation. A CRM system helps you to assess ROI by tracking the return on investment in marketing.
Many people think that when the sales funnel ends up selling, then their marketing team works to keep existing customers. Always keep in mind that when existing customers stop reacting to advertising campaigns, they are more likely to stop using your services or buy your product, and attracting a new customer can cost several times more than keeping an existing one in most cases. A CRM system helps you here by tracking the percentage of customer retention, compared to marketing activity. Always keep in mind that the correct use of a CRM system tells you which marketing activities are ineffective.
Some Monitoring statistics of business marketing-
- The number of campaigns
- The number of responses to the campaign
- The number of purchases for the campaign
- The revenue from the campaign
- The number of new customers from the campaign
- The number of referrals of customers
- The number of views on the site
- The percentage of the user’s goal on the site
- Time of visiting the site
- Customer value indicator
- The Coefficient of complex sales
- Sales ratio of additional goods/services (upset) and
- Growth indicator of email
Sales is the next step after business marketing. Your sales team acts as a “circulatory system” of your company and plays a key role in customer relationships. You can use several important metrics with the help of a CRM system to stimulate sales.
First of all, determine how long is your sales cycle? When you track the period from the time you find out about potential buyers before closing a deal, your sales team can analyze its actions and monitor the completion of sales, how often the leader grows into a sale, evaluate the sales department and the channels through which potential buyers were found. A CRM system helps you to track activity on key sales, such as call-based sales, or internal passive queries.
Some parameters for monitoring statistics are-
- Number of potential customers,
- Number of new customers,
- Number of retentive customers,
- Completion rate,
- Update rate,
- Number of calls made with a proposal for sale,
- Number of calls with potential transactions,
- New revenue amount – Number of open potential transactions,
- Sales time,
- Duration and
- Sales cycle duration – Total Number of sent offers to customers.
After Sales Service
You need to monitor the effectiveness of business marketing campaigns closely to maintain a healthy relationship with clients. You should consider customers along with a continuum of “marketing-sales-delivery to keep them and build long-term relationships with them.
Some parameters for Monitoring After Sales Service:
- Number of processed applications,
- Number of applications closed on the same day,
- Average time to complete the task,
- Average number of calls per day,
- Problem resolution time,
- Number of callbacks from customers,
- The Average cost of maintenance and interaction,
- Percent compliance with Sales volume agreements,
- Lost (unanswered) calls and
- Average call processing time.
Segmentation of Customers into Different Groups
A CRM system helps you in personalization and identify the specific needs of each group of customers. To track the needs of such customers, it is essential to segment the client base collected for the entire period of business existence. In simple words, the Segmentation of the client base is the division of customers into groups according to certain criteria. It helps business organizations to identify the product, marketing, risk and other interaction strategies with a specific group of customers.
A CRM system helps business organizations in different ways and allows them to maintain a healthy relationship with customers for a long period of time and get repeat business opportunities.
Author Bio: Morris Edwards is a digital revenue growth specialist and a web designer of Singapore based Web Design Company, Awebstar Technologies Pte Ltd.