Why is customer management important?
An interesting thing about business is that many things are commonsensical and intuitive. Reading the title of this blog, the first reaction might be “obviously it is!!
Another aspect to these commonsensical and intuitive practices is that people often do not go into the depth of things and hence tend to miss out some very critical understanding and practices that can make the difference between ordinary and extraordinary business. If the question asked was “Is customer management important?” the answer would be a confident yes,
it is the “why” that might stump one momentarily because customer management is such an instinctual part of most professionals that most of them do not give it an extended thoughts.
Even a non-professional would preach confidently that if you cater well to your customers’ need, they would be happy; happy customers buy more goods or services from you, increasing your sales; which in turn will make, and keep, you happy.
It is not only beneficial but also essential for a company to keep its customers happy and satisfied. Along with gaining new customers, it is important for all sellers or service providers to realize how to maintain business dealings with existing customers and then gradually expand the relation with them, especially in today’s challenging economy.
Some professionals are apprehensive that customer management incurs a lot of costs and provides no tangible returns.
However, having a satisfied customer means a regular customer with recurring business, without the usual resource, time, and money that are involved in finding new customers and securing new work from them.
Every professional knows that selling is tough; whether it be a product or a service, it is not easy to convince your customers, fight competition and discounted rates, and still stay afloat financially. While making a pitch to a customer, the first “stage” is to try and get into a customer’s consideration, develop the consideration into a specific opportunity. Move the opportunity to a customer asking for a proposal (where we tell the customer what will we do, how will we do it, and why do we plan to do what we are proposing) and then, the toughest part – to communicate and prove to the customer that why would we be the customer’s best option, explain that how are we better than the competition, and why the customer must give us a chance.
Clearly, it is not easy….
This begs the question, which is the best way to do great Customer Relationship Management. Should it be done intuitively or can we put some structure to it?
In today’s global world of business where businesses are spread across the globe, countries, and people from various backgrounds and cultures it is no longer simple or easy to manage customer relationships purely by intuition. One needs to have each interaction listed, customer concerns communicated to the right stakeholders, corrective actions tracked to closure and the loop closed back with the customer. This itself helps to improve the customer satisfaction levels by more than 50 %. It shows a vendor who cares….and which customer does not like that.
As we all know more than 70 % of a company’s business comes from repeat clients. Repeat clients come back to you if they feel that you are a vendor that cares and what better way to use technology to “care” for your customers.
We, at CRM Masters, have always believed in that.
That is why we take CRM seriously (not only for our customers) but also in terms of enabling our customers to do the same for theirs. And that is why we have put in considerable efforts and energy in mastering Salesforce, Zoho, MS Dynamics etc.
Looking forward to helping you.