5 Ways Zoho CRM Increases Customer Retention
Do you know how does a business acquire revenue and grow further? It can only be possible either by getting new customers or by retaining its existing customers.
Pareto’s 80-20 principle 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 should focus on satisfying existing customers rather than acquiring new ones, which will pave the path towards consistent revenue growth. If you aim at increasing customer retention rate, Zoho Implementation will help you to control business interactions with Your Customers through Customer Relationship Management (CRM).
Why Should You Care About Customer Retention?
Your customer retention rate is a number that shows whether your marketing and customer care efforts are fortifying your business or just draining your money.
Customer retention isn’t just about how your marketing and sales teams are doing. When you follow this number, you get to know about the vital changes or switch gears to reach your sales and growth goals.
It’s fair that every business needs new customers, but generating revenue from existing customers is the easiest way ever. 5 major reasons that you should care about customer retention for your business:
*Better Conversion Rates
*Improvement in Services
So the businesses should never underestimate the value of customer retention and should start being proactive about keeping their existing customers.
How can Zoho CRM Implementation improve Customer Retention?
Zoho CRM software has made businesses to grow faster. It helps you to get more deals, boost up sales, and make customers engaged with your business. But when it comes to customer retention, there are several ways adopted to deal with customers such as online communication and web assistance. Social media is another method to reach potential clients and staying connected with existing clients of your company. Zoho Integrations with social media and email accounts can promote your business online.
Companies that use Zoho CRM can stay closer to their customers by tracking records of current customers and identifying loyal customers to reward them. This technique not only holds your existing customers but also bring more customers.
Check out these 5 ways that Zoho CRM can help you to increase the rate of customer retention in your business.
Identify High-Value Customers:
With Zoho CRM, you can integrate all your applications and databases to the software, and a simple search enables you to recognize your high-value clients. Based on the history of clients, you can easily classify the leading clients and identify their requirements. Doing so, you can focus on your potential clients and utilize valuable time in keeping them happy in spite of attracting new clients. You can also reach out to inactive customers who are no longer associated with your company and make extra efforts to get them back to your business.
Create Personalized Offers:
Most businesses offer lucrative deals and discounts to attract new customers, but when it comes to existing customers, only a few businesses present value-added offers. With Zoho CRM, you don’t need to beat around the bush to recognize what your existing customers love. Just pick any customer or group of customers that you want to target, and you will get every bit of information about that customer right there. You will get familiar with their product preferences, purchase patterns, price sensitivity, how often they visit your website, and even the date and time of their last purchase.
Briefly, you get to know everything that is important to make an offer the customer cannot refuse! This action will not only strengthen the chance of conversion manifolds, but your customers will also feel special.
Create Lasting Relations with Customers:
Zoho Integration captures every detail from landing pages and saves the personal information of customers in dashboards. It creates customized reports about every customer inclusive their contact details, ongoing projects, product requirements, past orders, etc. After having complete information about them, you find common ground to start up highly-personalized follow-up communication. Automating Zoho workflows allows you to send follow-up texts and emails about particular offers or on some special occasions to targeted customers. For example, you can send birthday cards and some lucrative offers for birthday month.
Email Alerts and Notifications:
Zoho enables you to categorize your customer’s list and doing so you can classify different customers easily. Zoho Workflow brings automation and artificial intelligence in your business, which creates reports and analytics quickly. According to the updated reports, it handles regular communication with the customers, from welcome email to new customers to daily follow-ups, everything is done automatically. Regular emails can be customized with some extended offers, service expiry notification, progress reports of ongoing projects, and invoices, etc. Therefore, it also works as an event planner and task manager to request clients, send reminders and post-event follow-ups, as well as to execute other significant actions.
Get feedback on Client Portal:
Today, the businesses can reside closer to the customers, and you can use this as an advantage. Talk to your potential customers, generate reports, and get their valuable reports about your product and services. The collected feedback will help you to improve and enhance your product functionalities, and you will gain customer trust. Analyze the feedback from happy customers and aggressive customers both, which will help you to emphasize your services for a few shortcomings.
Integration Zoho creator with CRM provides a Client Portal to the businesses that the customers can use to give their feedback and preview their overall interactions with you. This facility will assure your customers for constant customer support and build more trust.
Get the Right Tool for Customer Retention!
Customers are the heart of any business, so satisfying them should be a top priority of every business owner. Most of your customers will approach you again for repeat purchases if you can make them feel special. Zoho CRM is the ultimate solution that will help you in your mission of customer retention by providing you enough tools that will ease your work. The invaluable insights that Zoho Customization presents will assist you in targeting particular customers, create personalized offers, and foster a stronger relationship with them.
Use Zoho CRM smartly, and it will become a powerful customer retention tool for your business!
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Encaptechno is a registered Zoho implementation partner and has done significant implementations on Zoho platform across its wide range of products.
Original Source: Codementor