Customer Relationship Management
CRM – Customer Relationship Management, a very grand title for a very simple process. Keep records of your clients. Preferably everyone that has done business with you, or made an enquiry about your services. Logging this data provides a myriad of opportunities and keeps your marketing costs down. PLUS they already know about you so all the hard work has been done.
There may be opportunities to increase their frequency of purchase so that you are getting more guaranteed and regular income. There may be capacity to upsell, in other words get clients to take a more expensive product or service. In a lot of cases customers want to give you business but never get around to picking up the phone.
Here are some of the ways in which you can manage your customers for future business
- Build relationships by sending newsletters, direct emails that are interesting to read and have special offers
- Profile your customers into segmented markets and carry out individual campaigns aimed at each one
- Connect with them on social media and engage with them regularly
- Incentivise them to refer to their friends and family
- Introduce loyalty schemes
- Carry out market research
- Encourage feedback to enable effective development of your product or service
- Better management of your product portfolio, what’s working, what’s not, what’s profitable, what’s not
A simple spreadsheet is all you need to get started, but as your list grows, you may want to invest in some CRM software. Popular packages are Sage, Constant Contact, Salesforce and Act
Keeping existing customers happy costs less than winning a new one!
I will publish more blogs over the next few weeks on the topic of customer relationship management
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