How your Customer relationship system (CRM) can reduce customer churn?

A good CRM system can help you fight this problem at the root and boost your sales.

Identify the primary cause

When a customer leaves, always get in touch with them personally. With a plethora of online platforms ranging from e-mail, chat, social media or even a personal phone call, this one is easy to implement. An honest conversation on what did or didn’t work for them is very important in analyzing the problem and improving your services. In addition, data integration can sync your CRM to other systems. It enables the system to listen to conversations on online platforms and identify common factors that are affecting performance- be it price, functionality, customer service, etc

Engage with customers

CRM allows you to engage with customers as per their convenience. DO they prefer to engage on social media or chat sessions or after-hours phone calls? Analyzing the trends in their interaction history can help you devise a personalized strategy that works for them and create meaningful conversations that benefit both of you.

Set up warning flags/markers for changes in buying patterns

Typically, there are several flags or markers that could alert you of a customer’s decision to leave. For e.g. they have posted unfavorable feedback on social media, they are not as active as they used to be, etc. You can set up strategies to get such customers interested again with deals or offers.

Identify and engage your Most Valuable Customers at a different level

With access to customer’s buying history, it is easy to identify your most valuable customers. You can create a specific list of these loyal customers and focus your efforts on retaining them. Dedicate a team for a personalized interaction on their preferred channels for engagement. Evaluate what makes them happy – i.e. do they like free offers or additional services or content. Such strategies are easy to plan and execute with your CRM.

 Personalize, personalize and personalize engagement and touchpoints!

 Of course, the most important takeaway from this entire exercise is the critical need for personalized customer engagement. For example, you have personally met and interacted with your customers at trade shows where you participate. Compile a list of those who have attended that event and cross-reference it with those who have not. This way you now have a list of people whom you can follow up with on a personalized level – by either offering them free tickets to attend the next event or set up meetings as per their convenience.

 In conclusion, with the help of an intuitive CRM system, it is easy to devise strategies to deal with the threat of customer churn and grow your business.