Microsoft defines the CRM definition as: “CRM is a technology that allows organizations to track and leverage every customer interaction to maximize revenue opportunities and improve customer loyalty.”
What does CRM do?
In the business world, the universal rule is that it is cheaper to retain an existing customer than to create a new one. By utilizing customer relationship management, CRM, companies are able to reduce marketing and advertising cost by spending less time and money acquiring clients and more time nurturing the clients that have already expressed an interest in their product.
It gives way for past customers who already know, like, and trust you to remain loyal. Build value with your present clients so that they become loyal. And builds likeability, creates trust worthiness, and knowledge for clients that you are trying to win.
Who is CRM good for?
I feel that if you have clients then you must have some type of CRM Software or program. There are lots of companies out there that offer CRM solutions. Some solutions are catered to large companies where other solutions are more geared toward small-midsized companies.
Why should I use CRM in my business?
When you "over-stand" the CRM definition and you utilize customer relationship management effectively, you are then able to:
If you utilize customer relationship management and use CRM as a strategy, you are then able to convert more clients with the same budget thus creating more profitability.
Now lets get into the unique and creative ways that you can use it, check out the customer loyalty portion of this website....
“I would recommend this program to absolutely anyone because it has definitely created loyalty! There is so much competition in larger cities and when we opened our second location in Burlington, IA we needed to do something to set our bakery apart. I can think off the top of my head at least 15 customers who eat here 4 days a week just because of the card, where as before they would come only once a week. It has really worked well for us and has created a word-of-mouth to where we don’t even have to “sell” it anymore. It has been a win-win for both our business and our customers.”
* Martha Wolf
The Ivy Bake Shoppe & Café