Improving Customer Retention Through CRM

February 5, 2021
Driverseat Expert
Blog

Customers are at the center of any business and are crucial for growth. This means that is important for any business to satisfy their existing customer base. Customer relationship management (CRM) allows you to measure the success and performance of your business. It also determines brand loyalty by taking a look at whether or not customers/clients engage in repeat purchases or business.

As a business owner, employer, or employee – you want to leave a great impression on your current customers so that they turn into repeat customers or buyers. The goal is to prevent them from switching to a competitor. Always remember: customer retention is about relationships.

To ensure your customers are loyal to your brand, here are five strategies on how to improve your customer retention rate:

1. Create customer communities around your brand

Take advantage of the power of social media platforms, use them strategically to market your brand. Maintaining an active social media presence will help you build strong relationships with your customers, encouraging them to support your business through sales. Brand Loyalty Tip: focus on strong interactions with customers by responding quickly, initiating conversations, and elevating discussions!

2. Monitor and analyze your insights

Understand your performance on different platforms. Tracking different metrics on social media such as impressions, reach and engagement rate will assess customer retention; which then translates to the effectiveness of your posts.

3. Improve customer experience across all channels

Being present across all channels will make customers feel like they are being heard. Reply to conversations respectfully and professionally to show your customers that you truly want to help them and that you care about satisfying their needs. Take the opportunity to connect with your customers by leveraging interactive features like polls, stickers, Q&A sessions, live streaming, and more.

4. Get feedback!

Identifying issues early on can prevent customers from turning to other consumers for feedback. This gives you the opportunity to make necessary changes to improve customer satisfaction – take it! Listening to and acting on customers’ concerns reassures that their opinions matter and needs are being met. If you are able to identify common complaints, take action to increase retention and reduce customer turnover.

5. Word of Mouth

People talk. Word of mouth is a cost-effective form of marketing that people trust and value. WOM is triggered by a customer sharing their consumer experience, which generates a social “buzz” in the public. Build trust and support for your business by having people share their experiences. The goal is to get your customers to become brand advocates for you!

Click here to watch our latest YouTube video to learn more about improving customer retention through CRM! Hear one of Driverseat’s marketing experts take a deep dive into these 5 strategies!

Improving Customer Retention Through CRM

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