Every interaction with a customer has with your organization is an opportunity to build loyalty- or a chance to lose it.
Points to consider and gaining Success with CRM:
- Acquiring new customers can cost 5 times more than satisfying and retaining current customers
- A 2% increase in customer retention has the same effect on profits as cutting costs by 10%
- The average company loses 10% of its customers each year
- A 5% reduction in customer defection rate can increase profits by 25-125%, depending on the industry
- The customer profitability rate tends to increase over the life of a retained customer
Even small improvements in daily contact with customers and employees can result in a significant increase in loyalty – a leading indicator of future growth and revenue
Resolve customer questions, issues and requests quickly for a high-quality customer experience, capitalize on new selling opportunities, and provide convenient self-service solutions to customer with the easy-to-use functionality.
Customer Relationship Tracking – provide a better and more focused customer service by having all aspects of the account in one place.
Service Resolution – Create and track trouble-tickets to give customers the solutions they need. Use prior information from your knowledge database to solve reoccurring issues faster and more completely.
Defect Tracking- Continuously improve your products and keep customers up–to-date on the latest issues and resolutions.
Online Customer Support – Provide an easy way for customers to create and track trouble tickets online.
Accounts Receivable notification – Increase cash flow by automatically notifying customers and your Customer Service department of past due invoices, expiring contracts, etc.
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Specific Customer Relationship Management Business Solution: