How to create a Customer-centric Business
20-Jul-2012 | News-Press Release
The biggest challenge for any growing business is to scale its capabilities and resources to service new and existing customers in a more efficient manner. This is easier said than done.
On average, small medium businesses can manage between 200 to 400 customers depending on their size and industry. To do so effectively, an SMB requires a customer relationship management (CRM) tool to sieve through all the incoming data and analyse the appropriate action proactively.
CRM tools, however, are not part of the SMB lexicon in India. According to data from CRM Infoline, only about five per cent of Indian SMBs are using CRM tools currently. Using CRM tools in your business could help with existing and potential interactions. It can help boost sales leads and aid niche marketing, which are critical for business growth.
According to CRM experts, the proper use of CRM –Can reduce the total marketing and sales costs by 15 per centCan help grow customer loyalty by 30 per cent andCan boost client/customer retention by 15 per centHowever, CRM can also be an expensive investment that needs a time commitment to deliver its full promise. Here are a few questions business owners should ask before going ahead with a CRM implementation:
Does your business need standalone CRM?If your small business relies heavily on after sales customer feedback, do you actively log the feedback through various mediums? If not, you need to have a system in place that allows you to capture and respond to the feedback in a prompt manner. This isn’t as complex as it sounds. A standalone system doesn’t have to integrate all your systems but can offer significant benefit even when operated independently. You just need to ensure you or your staff are disciplined in capturing the feedback to make it worthwhile.
Remember, successful businesses have used customer feedback to develop new products, reach out to new markets, and even acquire a whole new set of customers.
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