“It’s easier to keep an existing customer than trying to find a new one.”
Companies know that their bottom line is directly affected by repeat business, and without it, the business can struggle. Customer Relationship Management Marketing can generate new opportunities, repeat business, and most of all, additional revenue.
Whether big or small, each and every business depends on its customer relationship strategy. All businesses must be driven by the wants and needs of their customers, otherwise they may struggle and eventually fail. Aligning customer needs with the company’s products and services is critical to customer retention and company growth.
CRM systems help track every aspect of a customer through sales and all the way to ongoing support. Many companies do not use their own customer base for revenue generating opportunities. Through these systems, marketing other products and services to existing customers can create “Blowout Opportunities” that can add to the bottom line with minimal expense.
For example, you may have an existing customer who uses one of your software tools for a significant period of time. Over time, your use of the tool increases and you receive a history of multiple support calls that have been resolved by another application or service offered by your company.
This is a perfect opportunity to call the existing customer to introduce the new offer. The current relationship is leveraged for a new sales advantage that could very well benefit both the customer and the company, my true win/win situation.
In short, your current customer base is abuzz with potential sales for other products and services you offer. You already know the customer and their wants and needs, so you’re on the cutting edge when it comes to building rapport and presenting your offers. Customer management relationship marketing is another channel that should not be ignored, if you are not using it, you are leaving money on the table.