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If you ask any business leader today what is the fail-safe way to improve business, then the answer would be CRM? Why CRM? Well, the whole blog is just about that. But the most important thing to understand is the success of a business is because of customers.
When customers have an emotional connection with business and give them a strong reason to be loyal, it is a powerful marketing report. A study has shown that 78% of businesses have better customer relationships and increased revenue using CRM.
Good customer relationships are based on customer experience. Great customer experience develops strong relations that encourage faster growth in business as you retain existing customers and gain new customers. Customer relationships drive the business.
Let us first know what CRM is?
Customer Relationship Management refers to good customer relationships with current and prospective customers. The core of CRM is to understand who the customers are, their expectations, and how to nurture a relationship with them to meet and maybe go beyond expectations.
The CRM is based on a business model that seeks to improve customer relationships. They drive new trends which provide profits for the current operations and future operations and investments.
CRM model implementation and categorization in the below stages:
- Awareness: The first touchpoint of the prospective customers is where they try to know more about the product services and brands as a whole.
- Discovery: Here, in this stage, it is about learning and identifying the needs of the customers and sharing the requirement to respective departments to fulfill the requirement.
- Evaluation: In this stage, the prospective customers compare and evaluate products, services, and brands with your competition.
- Intent: In this stage, the prospective customer is convinced and decides to buy a product or service from you.
- Purchase: Now, the prospective customer has become a customer as payment is made and the deal is complete.
- Loyalty: Post-purchase stage when company follow-up and ensure customer happiness. These happy customers give referrals.
Foundation of CRM for business
Customers are the heartbeat of the business. It is imminent to have good customer engagement examples that will strengthen the relationship with customers. It plays a crucial role in the success of the business as it helps sustain the business’s performance.
Key areas of development of good CRM
- Better Customer Experience: The CRM software solution is all about customers, business, and relationships. The CRM ensures that it creates relationships, such as customers having a positive experience interacting with the brand.
- Increase in Retention Rate: Customers’ positive experience towards the brand and company fuels customer loyalty and customer retention. The loyalty towards the brand turns them into your brand advocates. This, in turn, brings in more customers.
- Customer Satisfaction: Meeting the customers’ wants and expectations with the products and exceptional service increases the satisfaction level to manifolds. They will return to your business again and again.
AuroCRM is a customized CRM system with a great success rate of integration into businesses. The Auro CRM offers exceptional Lead generation and personalization of communication through the customer journey. The organized dashboard is simple to use—the best CRM solution for a concise overview of all customers and customer data-driven insights.
Here are innovative and best examples of CRM marketing strategies and models:
The examples of innovation in marketing with the integration of CRM software to improve customer relationships will show that every interaction made by a customer with the brand is important, and you need to focus on them.
Deliver live assistance-increase customer engagement
A study has shown that businesses that use visual engagement tools have shown a 79% year-on-year increase in revenue annually. The further study stated that 2.8x greater annual improvement customer effort score.
Live assistance is gaining prominence as a communication channel, making interaction much easier. It is very helpful to wrap a large part of the customer journey and increase customer satisfaction. Banks have been using Live Assistance, and it has empowered both the customers and banks to conduct the whole business much more efficiently.
Now customers don’t need to wait for banks visits to conduct important transactions like loan applications. Banks have started using video chats and co-browsing through which customers can get in-person interaction. Live engagement is face-to-face video chatting that assures the customers of security and safety when remote finances.
Co-browsing is a solution for customer support online, which empowers the agents to converse over customer’s browser as they assist customers to fill up a form or download the right files and guide them to the right page.
Live Assistance and Co-browsing Benefits to customers and Bank
- Personalized banking experience from anywhere at any time
- Reducing the number of contacts required for assistance
- Customer trust and satisfaction is boosted because of living collaboration
The Commercial Bank of Kuwait implemented REVE Chat Video along with a co-browsing solution that delivers Live assistance to customers.
Takeaways:
If your business has customers that require live support, then do engage with them one on one via video chat and co-browsing
You need to identify customer journey and accordingly provide live assistance so that customer has a better resolution and service experience.
Omnichannel Presence
The number of communication channels has evolved exponentially with technology. Businesses have multiple marketing channels and customer service channels through which brands can communicate with customers, including offline methods and online methods.
Having more communication channels is a good thing for the business as it allows for more interactions with customers to serve them. The omnichannel allows you to integrate Direct Messaging, Text, instant messaging, and social to deliver a unified brand experience to customers.
Focus is on three areas through which a better experience to customers is given:
- Identify preferred channel for customer’s touchpoints
- Develop a strategy that engages and supports across all touchpoints
- Deliver consistent experience through the customer journey
Oasis is a leading women’s clothing brand focused on the best omnichannel experience for its customers. It identified maximum touchpoints are on social media, so they made special campaigns to impress customers on Instagram. They increased followers and sales by creating a special gallery of user-generated content, which in turn encouraged customers to model clothes of Oasis store and thus more sales.
Takeaways:
- Remember you must know your customer’s preferred channels they use to reach your business, and it should be available for real-time support
- Improvements in customer relationship as you give consistent multi-channel support experience
Automation of Customer Support
When there is a delay in response, customers decline. And this opens your business to the risk of your competitors. What makes customers happy is the faster response.
Customers like chatbots, and studies show that it has eased the way of contacting a business. Customer satisfaction has been redefined with an automated chatbot as response time improves and improves customer interests.
The Real-time service is very important in retaining current relationships and prospective customers too.
Chatbots help businesses to
- Give genuine answers to customers directly
- It reduced support tickets, thus effective working
- Chatbots needs to have FAQ’s and be trained with relevant answers, and they follow the same patter to serve customers
Takeaways:
Chatbots can be effective in the collection of basic customer information from a website and engaging them.
Chatbots are customer service available 24*7 when the support team is not available. You can have a small support staff.
Hipmunk is a famous travel portal for travel deals. It used AI and Chatbot to engage with customers at a close level. It helped with the search for travel destinations and reserve activities of customer choice. It helps by determining the location of customers and aggregates. It promotes deals of travel packages and offers discounts.
Continuous Marketing Interaction
If the business lacks customer engagement, it is a big red flag for customer churn. The trick is to keep customers happy post-sales. As compared to new customers, loyal customers are more profitable.
This means you need to keep continuous engagement with customers and offer support that foster crucial relationship between business and customers.
The Thumb rule is better engagement as they get retained, recommend, and buy more. This will have a positive impact on the KPI’s.
Strategies for Continuous Customer Engagement for Marketing
- Send Thank You Emails
- Ask for the Star Ratings or Reviews
- Cross-Sell or Upsell products through post-purchase notifications and recommendations
- Offer Customer Loyalty programs
- Request for referrals
Takeaways:
- Keep your customers engaged after the sale is complete. It must be beyond the customer journey.
- When you engage post-sales customers to feel value, it improves customer retention.
Sephora’s Beauty Insider has the best reward program that is popular globally. Sephora has more than 18 million loyal members, and they make up 80% of annual sales. Customers get rewards post-purchase based on points. Sephora offers customers a choice as to how they want to use the reward points.
Use Social Media for Customer Service
Social Media has become an imminent touchpoint for structuring customer relationships. The customers share reviews-positive and negative and experience on social media, and they expect an immediate response.
The churn increases up to 15% for businesses failing to respond to touchpoints on social media. Social Media such as Facebook, Twitter, Instagram, Linkedln, etc., is for business promotion and to connect with customers. Customers today want brands to connect through social media.
Customers feel happy as they interact and create strong connections with social media businesses.
Takeaways:
- Respond Faster on social reviews and posts
- Development of customer trust
- Recommended to personalize conversations
- Talk directly with the customers
- Offer rewards with campaigns
- Contests are a good way for customer relationship management
Nike engages with customers and makes them feel they are available and fix issues anytime.
Improvement of Conversion Rates
For business, the greatest assets are the Customers. Customers will vouch for your products and services and their quality. The customers will turn into your marketing representatives if you do it right through customer experience.
When your customer is happy with a product or service, they will recommend it to family and friends as they will share their customer experience of success. They will share on social media.
This will be the positive word of mouth. These referrals convert 5 times higher than other marketing. These referred customers are loyal and have high lifetime value, and further, they share positive reviews.
Takeaways:
- Focus on customer service satisfaction strategies as this will retain more customers with your business.
- Advocate brand with positive word of mouth
Casper Mattress Company gives an irresistible offer. They offer a trial period to customers where they take the mattress home and try it before buying. They have quick online ordering, home delivery which nobody wants to miss. It is high-end mattress customers feel no fear when buying as they have tested for comfort and durability. They can show others. Casper circulates ads and reviews of real customers on social media.
Increase Customer Satisfaction
Customer’s expectation towards customer service is related to 3 factors:
- The success of solving the process
- Ease of solving process
- Emotions while solving process
The journey of positive experience starts from the time customers visit your website and extends till they become a customer. And also, post-sale is important and integral.
Keep customer expectations as your top priority. You might need to go the extra mile to meet the expectation. This will boost satisfaction and set great examples.
Customer experience, feedback, and reviews are factors that validate important decisions within the business. When customers give feedback and implement it, they feel validated and valued.
Takeaways:
- Learn about customer experience
- Fulfill to deliver a positive experience
- A positive experience will boost customer satisfaction
Airbnb surveys are a great example where they take customers’ opinions after their stay and give them space to share their feedback. With a referral program, Airbnb increases 30% of sales.
Development of Strong Brand Image
Businesses have to put their best efforts to develop a strong and loyal brand image to fuel business-customer relationships. The strong image has an impact on increasing trust levels in other customers, which in turn returns customer retention.
Branding success leads to improved image, relatable identity, and increased customer loyalty.
The brand image could be strengthened with brand communication along with word of mouth.
Takeaways:
Brand image has great importance as Brands need to put their best efforts into developing brand image and maintaining all their customers’ trust.
Colgate is an example of a popular brand that has built the image in customers that it is best for dental health. Customers over the year have strongly connected with it.
Customer Relationship Management examples show it is integral to every business section. It applies to the whole customer lifecycle across the journey.
The development of long and lasting customer relationships is crucial for all businesses. The CRM software is an integrated solution that helps is maintain a strong foundation of the customer relationship.
For an integrated solution to manage customer relationships and collaborate marketing and sales reps to give the best customer experience and personalization, AuroCRM provides the best CRM solution.
