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Long-term customer relations are the key for every business to succeed. People usually implement a smart & agile CRM Tool to manage the entire process. And then information starts coming in.
The game is not over at this stage. In fact, it’s just the beginning. A CRM gives you much more information than many people realize. And you need to pay close attention to the right parameters to get an idea of whether you’re improving on customer relations or not.
Taking up a CRM is just the start of your path to success. What matters more is how you implement the app in the best possible way for your business. A smart CRM strategy is the key, to track major progress & milestones. This helps you to analyze where you need to put your maximum efforts in order to build long-lasting customer relationships.
The best way to measure where you’re heading is by analyzing those who act as the face of your company, & interact with your customers on regular basis. By putting their efforts in the microscopic lens… it’s easy to get an idea of their effectiveness & where you need to work with the CRM.
When it comes to customer lifecycle, your marketing team always comes on top. They are the ones responsible for spreading awareness about your product.
The first step here is always to monitor the effectiveness of campaigns throughout your sales pipeline. Few of the parameters you simply can’t miss are:
ROI (Return on Investment): Every single marketing effort should contribute towards generating sales. Use your CRM to track the total leads generated, their conversion rate & total sales generated. Compare the same with your expenses & you’ll have your numbers.
Customer Engagement: Keeping hold of customers is equally important as closing sales. Hence keeping your customers engaged on a regular basis is vital towards retaining most of your customers. Use your CRM to monitor your customer retention rates w.r.t. certain marketing efforts. It will tell you if people are getting interested in your offers or where you’re missing the mark.
Lifetime Customer Value: This is the total estimated revenue you think you’ll get from a customer over the entire duration of your relationship. Using all the personalized data about a prospect’s behavior, it’s easy for you to know when’s the right time to make the deal.
Sales Cycle: By analysing how long your average sales cycle is, it’s pretty easy to reflect back on what worked & what didn’t. So cool!
Sales Activities: With a smart CRM it’s easy to track things like outbound calls, inbound help requests etc. Both these activities have their own way of telling you what’s working & what’s the reason behind something not working. May be you’re team is spending too much time in every single call, rather than maximizing the total number of calls made everyday! Just saying 🙂
Above all, everybody likes super-friendly & instant support. There’s simply no substitute to that! 🙂
Customizing your business process & aligning your CRM with it may look like a daunting task at the start. However, it pays handsome results in the long-run. There’s absolutely no doubt in that. It’s always wise to not go in the 5th gear from the beginning. Start slow, take your time to heat things up & you’ll see that customers will be attracted towards your business for the value it brings 🙂 Cheers!