Not Just Get, Retain them for Life

How CRM can help in Improving Customer Retention

Though there are many ways how CRM can help companies in Improving their Customer Retention, the three major steps are:

1. Know Your Customer - Build Customer Database

    Though it’s not easy or possible but db. is KING.

    • Knowing who your customers are
    • What they like / dislike, prefer?
    • Where do they hang out? Who influence them? How to reach them?

    How to get it.

    • Loyalty Programmed
    • MLM Database
    • Customer Support database
    • Customer Survey, Feedbacks, etc

2. Talk to Your Customers - Track Every Interaction

    Though it’s not easy or possible but still, db. is KING.

    • Sending out Emails or Receiving Emails
    • Phone, Faxes, SMS's
    • Social Networks, Facebook, Twitter, etc.
    • Survey, Feedbacks

    How to do it.

    • Policy to keep record of every interaction
    • SLA based response via different modes
    • Central database

3. Analyzing Your Customer - Separating Wheat from Chaff

    Though it’s not easy or possible but still, db. is KING.

    • Best Customers
      • Highest Revenue generating
      • Highest Profit generating
    • Worst Customers
    • Not Moving or In Active Customers

    How to use it.

    • Run Targeted Campaigns / Promotions
    • Cross Selling
    • Up Selling