By Sharla Sikes
If you are a business owner or executiveâ€”regardless of the size of the companyâ€”customer relationship management systems are a good bet to help you maximize your sales.
CRM systems become even more valuable in todayâ€™s uncertain economy. Your customers are the reason your business exists, yet many companies forget to place the proper emphasis on building a relationship with their most valuable resource.
Thatâ€™s where CRM software systems come
in. Fostering a positive relationship with your customers is easier when businesses have a way to track communications, sales, promotions and other forms of contact with each client.
Knowing each customerâ€™s purchase and payment history can be valuable. Use it to boost your companyâ€™s customer service level. Making customers feel like they matterâ€”no matter how much they spend at your businessâ€”will keep them coming back, and itâ€™s often said that keeping current customers returning is far more lucrative with fewer marketing dollars required than attracting new customers. The Pareto Principle, or 80-20 rules, says that 20 percent of your customers bring 80 percent of your revenue.
Yet providing above-average customer service will do both. No matter what industry you are in, word of mouth travels faster and farther than the best ad campaign. Your happy customers will refer their friends, family, neighbors, business associates, hairdresser, postman, dentist â€¦
CRM systems allow you to provide this heightened customer service by having knowledge about
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buyers near at hand and easily accessible for you to use to cater to their requirements and preferences. Throwing your best clients some extra-great deals is one way to keep them coming back, but remember how that will affect your bottom line in the long run.
However, thereâ€™s more to it than just having a CRM system in place. Learning to use it as effectively as possible is the other half of the equation. Weâ€™ll talk more about that later this week!