Boost Up Your Business with A Good CRM Strategy
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A brand/company without its customers is as lifeless as a rock. It is the customers who breathe life into the brand/company. Therefore, fostering and nurturing a relationship with the customers is of utmost importance.
In
order to enable this customer-centric model, brands/companies employ several
strategies, software and processes to maintain build and maintain a
long-lasting relationship between the brand/customer and the customers. All the
tools and steps undertaken for the betterment of this relationship are
collectively termed as Customer Relation Management (CRM).
Technology
has undoubtedly, enabled the striving of much better CRM strategies for
brands/companies, however, software alone cannot account for the success of
CRM. CRM which incorporates software and people alike is the best strategy.
WHY
CRM?
What
is the necessity of CRM? Why should we as a brand/company invest in CRM? These
questions might plague the minds of your brand/company and deter you from
indulging in CRM.
- The first and foremost reason for employing CRM is that it will create an enjoyable experience for the customers at all levels.
- It will enable and encourage different teams such as marketing, sales, etc. to collaborate and work in synergy.
- Help in identifying and tracking possible leads.
- Assist customers at different stages of their buying process (such as awareness, decision making, buying, after sales, etc.)
- Restructure marketing and other future campaigns from the insights gained.
THE LADDER OF 8 STEPS TO CREATE A PROPER CRM STRATEGY FROM SCRATCH
Step 1
At
the outset, the desired vision and objectives of the CRM Strategy have to be
identified. This will facilitate proper planning and structuring of the
strategy. The CRM Strategy has to be devised keeping in mind the overall
business goals and understanding what role this strategy is expected to play
for the furtherance of these goals.
Step 2
Since
the main stakeholder in any CRM Strategy is the customers, it is of utmost
importance to profile the brand/company’s customers based on demographic
details, personal information, behavioral and buying habits, etc. Interview
and surveys conducted can be useful for gathering the required information.
Having prior knowledge of who the customers are and what/why they buy will form
the basis of any CRM strategy.
Step 3
The
building block for a long-lasting relationship between the customers and the
brand/company is laid right at the beginning when the customer first discovers
the brand/company. Thereafter, assisting the customers through each step of
their journey via email marketing, digital marketing, and other tools further
enriches the customers’ experience and create a wholesome and fruitful CRM
strategy.
Step 4
Internal
processes related to pre-sales, sales, customer relationship management and
after-sales need to be optimized to ensure a 360-degree customer experience.
Improvement of processes in respect to offers being tailored to customer’s
needs and personalized messages through relevant communication channels ensure
a successful CRM strategy.
Step 5
After
audience analysis, market and competitor analysis also play an important role
in determining a CRM strategy. Identifying the brand/company’s USP (Unique
Selling Proposition), adhering to the current trends, positioning the
brand/company in the market and gaining inspiration from the competitor’s CRM
strategies, all contribute towards the shaping of a CRM strategy.
Step 6
CRM
strategies also have to take into consideration the product or service offered
by the brand/company and identify the chief characteristics traits that would
be communicated to the audience vis-à-vis various channels. The brand tone of
voice is created and the employees are trained to relay the same messages.
Step 7
Investing
in CRM software is always a good call.
The right CRM software has to be chosen keeping in mind the business
processes, cost, ease of use and capabilities. The software will integrate with
all the existing tools of the brand/company and help in tracking insights,
storing customer data and recording all the interactions between the customers
and the brand/company.
Step 8
Even
a CRM strategy has to be backed by statistics. Objectives set for CRM must be
SMART (specific, measurable, achievable, realistic and time-bound). Objectives
may be in terms of customer retention, customer satisfaction, and profit among
others.
Thus,
any brand/company can create a powerful and effective CRM strategy following
these 8 rules which would benefit the brand/company to retain their customers and
increase profits.
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