Climbing the customer loyalty spectrum
CRM tools as the dynamic hinge for your ladder
Rome was not built in a day! [One small step]
Climbing the ladder of loyalty is not easy as climbing the beanstalk unless you are a giant. Corporate companies spend most of their time and energy on building fruitful customer relationships by using Customer Relationship Management Software. Climbing the ladder is a gradual process of relationship building.
Consumers usually behave in four different ways such as supporters, turncoats, condottiere, and captives. Historically, multiple sales teams have strategically used the ladder of loyalty to eject customers from one level to another.
CRM tools bring people management to the forefront as it takes strategic digital communication to a next level. Every organization must improvise more on transitioning new prospects into customer patrons during the initial stages. Converting patrons into clients would be a cake walk.
A client is a repeat customer who is at best neutral to the organization. With CRM software, unify enquiries from multiple sources to respond to customer queries quickly. Effectively keep a tab on customer preferences. Understand customer motivations and strategically calibrate business processes to cater to customer needs.
Deconstructing the Advocate [At the half way]
An organization’s next step is to dynamically gravitate customers into advocacy. This can be seamlessly achieved through Sales CRM. In a B2B setting, an advocate is someone who can recommend your organization to others. Customer advocates provide endorsements through word of mouth. Analyze customer demands during special occasions and launch products targeted to specific customer segments. Implementing these types of marketing campaigns is a sure-shot way to build customer fan base.
Advocates can easily develop into business partners. Business partners help build strategic relationships with the supplier. An example of building better customer relationships is by establishing a call center where the CRM tools can be used to manage multiple call center teams on a single platform.
‘‘Loyalty’’ the X factor
It is a known fact that brands add value to the company because they add value to the customer. It is crucial for an organization to implement CRM tools to create a positive brand value. A study conducted by Harvard Business School reveals customer referrals, endorsements, and information spreading through word of mouth to be extremely important forms of consumer behavior for companies.
Another study conducted by Xerox research has unearthed that totally satisfied customers were six times more likely than satisfied customers to repurchase Xerox products and services over the next 18 months. Indications of loyalty can be obtained through customer feedbacks.
Sneak Peek from the summitCRM software can perform in-depth forecasting through predictive analysis for getting a deeper understanding of the problems faced by customers. A drastic change in organizational policies refined towards customer satisfaction can be brought about by understanding customer problems.