How to Improve Customer Retention with CRM
CRM to keep your customers happy
Does your business know when your customers are at risk to being stolen by your competitors? Or do you simply leave it to chance?
We often pose this question to businesses. Their first answer usually is “Of course I do, our customers have a great relationship with our business!”.
However it is only when we delve deeper we see that things are more complex.
The above answer is based on the assumption that the customer is always letting a business know how they feel. This is a dangerous assumption that is a major cause of the loss of customers to other businesses.
There is a more intelligent way to manage this process. It is a method that reduces the customer churn experienced by your business. After all, it is much cheaper to keep a customer than to find a new one.
The Lumen solution to this issue begins with monitoring and recording all customer interactions and touch. This is done through an integrated CRM system.
Many businesses rely on guesswork when it comes to understanding how and when customer issues are resolved.
Most businesses rely on their staff to solve these issues. This may be somewhat effective but it is usual forgotten about once the problem blows over. Valuable information about how business operations can be improved are lost, and customers rarely receive the ongoing support they would benefit from.
This is where your relationship with your customer is likely to break down.
The next time they experience an issue with your business they are at risk of being lost. This is because you don’t have an accurate record of their previous interactions.
With a Lumen CRM software solution you will have a way of:
- Recording each interaction with your customers both good and bad
- Having these records available and rated to let you know when a customer is at risk of leaving because they are having multiple simultaneous issues
This system is a key part of the Lumen Ecosystem and one many of our customers have benefited from.
To take it a step further, there is even a way to prevent the above happening in the first place. An automated, pro-active customer retention strategy is the way to do this. This pro-active approach means that customers are actively contacted to discuss their account. This reminds them of your efforts to go the extra-mile.
Through your Lumen CRM system you will be prompted when to contact your customers and how to approach the interaction.
This is just one of the intelligent solutions that can streamline your business and make your life easier, and your customer happier.