Very general question business owners often have back of their mind, How to generate good revenue and grow it further? The answer is, it can only be possible either by getting new customers or by retaining the existing customers. Customers are important as no business exists without its customer base. As your company grows, so does your customer database.
Better relationship= Higher customer satisfaction+ Better customer experience
As per the Pareto principle, 80-20 is applied in every business, and according to it, 20% of existing customers generate 80% of revenue, while new customers contribute only 20% to the total revenue. So, the business owners need to focus more on existing customer satisfaction as compared to new potential customers, which will lead towards consistent revenue growth and will strengthen the relationships with customers for a longer time. If your aim is to attain maximum customer retention rate Zoho implementation will help you to control business interactions with your customers through Zoho Customer Relationship Management.
With Zoho CRM you can manage customer interactions on a single platform with the goal of increasing profits and customer loyalty. This software helps you to set up marketing automation to follow up with inactive and potential customers, so you never let a lead slip by.
Why Customer Retention number is important for your business?
As per a survey by Superoffice, 68% of customers leave their providers because they believe the company is not paying enough attention and does not care about them. Source: Superoffice
Customer retention number shows whether your customer-facing teams are fortifying business or just draining your money. It is fair that every business needs new customers, but generating revenue from existing customers is the easiest way ever. There are 5 reasons because which you should care about customer retention number for your business are-
- Better conversion rates
- Less marketing
- Higher profits
- Improvement in services
- Less expenditure
Making your customer feel important is the key to improve customer retention and customer acquisition in any industry.
Zoho CRM- Retain customers for your business
Zoho CRM software makes your business grow faster. It helps you to get more leads, deals, boost up sales, and customer engagement with your business. But when we talk about customer retention, there are plenty of options that can be adapted to deal with the customers such as online communication and web assistance. Social media is the platform to reach potential customers and establish contact with the current customers of your company. Zoho integration with social media platforms and email accounts promotes your business online. The excellent sales force automation feature enables you to capture leads directly from the website.
Companies or industries using Zoho CRM are more close to their customers because they can track the records of the current customers and identifying the loyal customers to reward them. This technique not only binds existing customers but also attracts new customers.
So, here we are highlighting some methods which will tell you about the power of Zoho CRM to increase customer retention rate in your business-
- Create personalized offers for current customers-
Most businesses make various efforts to attract new customers for their business through attractive deals, offers, and discounts. However, when it comes to existing customers only a few business organizations proactively extend value-added offers.
With Zoho CRM, you already know what your customer preference, priority, price sensitivity; purchase pattern is, how often customers visit the website, how many support requests they have made mentioned with date and time. What next you just need to do is to pick a customer to target and you will have all the information about that customer.
Briefly, you get to know everything that is important to make an offer attractive for the customer so that they cannot refuse. This will strengthen the chance of conversion manifolds and the customer feels special and important.
- Identify High-Valued customers-
With Zoho CRM you can search and reveal who are these high-value customers, just by integrating all your applications and database with the software. Based on customer’s history, you can easily classify who are the leading customers and what are their requirements. By doing this, you can pay more attention to them and help in keeping them happy.
It is crucial that you get in touch with your inactive high-value customers who are no longer associated with you for a longer time (those who have not purchased or placed a support request in the past six months) and make extra efforts to bring them back to your business.
- Creating Lasting relationship with customers through Zoho Integration-
Zoho integration captures every detail from landing pages, saves the information of the customers, and displays it on dashboards. It creates a customized report which comprises of contact details, ongoing projects, product requirement, past orders, etc. Based on this information, a common ground of communication is formed to start highly personalized follow-up communication.
Zoho workflow automation allows you to send follow-up texts and emails about the particular offers on some special occasions to the targeted customers.
Email alerts and notifications-
Zoho enables you to categorize and classify customers easily. Zoho Workflow brings automation and artificial intelligence together in your business, to create reports and analytics quickly. Based on updated reports, you can handle regular communication with customers from welcome emails to daily follow-ups, everything is done automatically. Therefore, it also works as an event planner, task manager to request customers, set reminders, post-event follow-ups, as well as to execute other significant actions.
Get the right CRM for Customer Retention!
“People will forget what you said. They will forget what you did. But they will never forget how you made them feel.” Maya Angelou, Author, and Poet.
The above statement goes in the case of customer retention too. Most of your customers will definitely come back to you for repetitive purchases, if you have made them feel special or if you have given enough attention to their needs. Zoho CRM is the ultimate solution that can help you with customer retention.
The invaluable insight and understanding that Zoho CRM offers you in targeting specific customers create personalized offers and foster a stronger relationship with them.
Use it smartly, and Zoho CRM is a powerful software for customer retention for your business!
