How to improve customer retention with CRM

It’s an established truth that maintaining customer relations and retaining customers gives much more ROI than acquiring new customers. CRM is a great tool that you can use to retain existing customers. Most companies over the world use CRM today, but they are likely not using it to its full potential. Your CRM can greatly enhance your ability to keep your customers happy and increase your customer retention rate.

Here are 5 ways in which you can use you CRM to improve customer retention:

1. Track Your Valuable Customers

With CRM, you have the ability to get a list of your most valuable customers. Track all your interaction with them and create a program to contact these customers regularly for special offers or just simple appreciation messages. This method can also be used to find customers that can become valuable if targeted properly.

2. Personalize Your Marketing Campaigns

Not all of your customers will be interested in the same things. They might have a few things in common, but every individual is different. A CRM will allow you to understand your customer base. You can run personalized marketing campaigns with the data you have available in your CRM customer database. This allows for better targeting and hence an overall more efficient process.

3. Analyze your Marketing Strategies

You can analyze the data you have in your CRM database to track your marketing campaigns. The data will give you a good idea of which campaigns are working better and which aren’t. This helps you recognize the strategy that your target customers are most receptive to. You can then focus more on the strategies that work best for your business.

4. Offer Personalized Services

With the data you have on customers, you can offer special packages at a discount to customers according to their purchase history. Deals like these will make the customer feel special and improve the likelihood that they will be loyal to the company. It helps if you make add personal notes for each contact that you add in your database and then use that to further personalize their experience with your company.

5. Regular reminders to retain inactive customers

When you don’t communicate with your past customers you lose them to your competitors. With CRMs, you can set reminders to regularly keep in contact with your past customers. Periodic offers will keep them interested in your company. This way if they want to purchase a product you have they will think of your company first.

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