Giving world class customer service is at the core of keeping your business afloat. After all it is a satisfied customer that forms the building block of your company. Failing to retain your customers will inevitably result in a systematic slow demise of your business, something that any successful business would all like to avoid. Technology has changed the landscape of customer relationship services by bringing about a unique set of tools, also known as customer relationship management (CRM) software, to streamline the cumbersome process of communicating with numerous clienteles.
By successfully implementing these tools, companies have been able to gain a more thorough understanding of their customer’s needs and if their products are able to match their expectations. Australian companies that are adamant to spearhead their businesses efforts to succeed will have to do more than just understand key internet metrics and viral campaigns. They will have to build a successful CRM strategy. They will need to successfully segment their customer base and schedule bulk emails without spending too much time on them.
What is CRM and Customer Management?
1) By effectively using business analytics to pinpoint a problem with your product which a customer is experiencing, you can easily fine tune them before they spiral out of control and affect all of your customers.
2) A CRM can help you track your customer’s online activities such as the number of times they press the like button on your Facebook posts and their responses to your emails. This will help you gauge their interest, which would allow you to build products that can engage them better.
3) You can also generate an automated response each time your customer submits a complaint. We understand that your customer representative team is not always available to answer any queries, but a CRM can do exactly that! As soon a complaint is submitted to your online forums (or Facebook page), the CRM software will promptly generate a helpful message which will keep the customer engaged to your website and allow more time for the sales team to address their grievances.
4) For most businesses, their emails just stack up on top of each other and are ignored. A CRM ensures that the right emails land in the right category depending on the contact and content. This way your business can ensure that key information about the customer is retained.
See also: Customer Experience Strategy
The following companies have done exactly that and much more – to not only retain older clientele but also increasing the scale of their business to achieve a larger outreach.
Companies that Are Killing It With Their Customer Management
Know Your Customer: Dollar Shave Club
By using an in-house CRM solution, Dollar Shave Club has been able to provide some of the best customer services, which most companies can only look at with envy. Their policy of “We don’t respond to situations, we respond to people,” has helped them grow into having millions of subscribers and satisfied, returning customers. This strategy was so successful that Unilever has acquired them for over $1 billion!
Suggesting Similar Content to Users: YouTube
When you watch a particular genre of video on YouTube, say a gaming video, YouTube quickly picks that up and feeds that into their algorithm. So the next time you log on to their channel, you only see content related to video games. This way you won’t be spammed by boring content that might serve to push you away from their website. Because of this strategy, users who might waste 15 minutes on YouTube searching for their favourite content, can now find all relevant content on the front page.
Sharing Assets: Uber
Customer relationships are at the very heart for companies such as Uber, Airbnb and Lyft. Their entire business is built around satisfying their customers. Uber specifically makes use of Salesforce CRM software to gain insights about their customers and keep track of every single transaction, interaction, ride rating and customer complaint. Uber is a massive corporation with a stupendously large customer base, so how does Uber immaculately address the grievances of their giant clientele? By implementation of a reliable and scalable CRM solution. https://www.salesforce.com/blog/2016/10/how-to-uberize-your-business.html
Amazon has hit the nail on the head when it comes to CRM implementation. Amazon makes it a point of strategy to ask their customers to create accounts. This is done so they’re able to collect as much data about their customer as possible. They use this data to segment their customer base, store account information, address details and suggest relevant products for them to buy. Their recommended products are able to keep users browsing through their website for hours on end; which drives up sales.
Target in Australia
Large scale retailers like Target can never even fathom collecting their customer’s data without a proper CRM strategy in place. They can now collect this treasure trove of data from websites and call centres to help accelerate the flow of customer information and keep them abreast of offers that suit their particular shopping habits.