My company has grown and so have my client's expectations
Getting started in the world of entrepreneurship can be an exciting challenge, but as companies grow, so do demands and responsibilities. According to business studies conducted by Raymond Joabar, executive vice president of American Express, 7 out of 10 American consumers are willing to spend more money to do business with a company that offers excellent service.
In addition, 68% of customers abandon a business relationship with a company after having a poor customer experience (Mckinssey and American Management Association - AMA); for this point it is necessary to emphasize that losing a customer costs 4 more times you have to attract him again.
This is why small, medium or large companies must always ensure the well-being of their clients, providing continuous, optimal and comprehensive support. Implement CRM software (Customer Relationship Management - Customer Relationship Management) proves to be a key strategy for driving business success because it is not only a technological tool, but also an excellent solution to increase sales and improve customer relationships more effectively and effectively.
According to Kenneth C. Laudon, professor of Information Systems at the Stern School of Business at New York University, CRM is a valuable tool that, combined with good management skills, provides excellent results and benefits with regard to company profitability. It provides: increased customer loyalty; the provision of personalized products and services; the reduction of company risks, including cost savings; an improvement in the detection of company failures or successes; strengthens its relationship with the customer and allows a better understanding of what they are looking for and what their real need is at that time.
The following are worth highlighting in depth some of the benefits of implementing a CRM in a company:
- Maintain a comprehensive view of your customers: As your business grows, it's increasingly difficult to keep track of all your customers and their interactions.
- Optimize internal operations: When your business expands, manual tasks and fragmented processes can become inefficient and error-prone.
- Get insights and make informed decisions: A CRM not only collects data, but it also provides you with useful analysis and reports. You can get information about the performance of your marketing campaigns, the sales cycle, the lifetime value of your customers, and more. These insights help you better understand your business and make informed decisions based on concrete data.
Finally, it's important to keep in mind that investing in CRM software alone will not automatically produce better information about customers and many customer relationship management systems don't fully achieve their objectives. These systems require changes in sales, marketing and customer service processes to promote the exchange of customer information, management support and a very clear idea of the benefits that can be obtained from consolidating customer data.