Traditionally, most organizations have focused on the numbers: Sales, Return on Investment (ROI) and Net Revenue. Accordingly times have changed, and in today’s socially connected world, this kind of tunnel vision could be a big blunder. In fact, if your business is not taking customer satisfaction seriously, you are most likely missing the proverbial boat. Today’s customer has influence, and smart companies leverage that influence to a mutual advantage.
Many times synonymous with the idiom “word-of-mouth,” customer influence will take more than one form. Social media and Web 2.0 focused sites empower every consumer. Let’s say Stan buys a skateboard for his son this holiday season, from the hypothetical company “Just Wheels.” Within the first week of use, the skateboard loses a wheel so Stan contacts the company; most likely through a website, social platform or real-time chat. When the company recognizes Stan as a recent customer and immediately satisfies his complaint by sending him a replacement skateboard, Stan responds with positive word-of-mouth. He tells his friends and colleagues how great “Just Wheels” customer service is, and recommends that they buy skateboards from them.
Resulting word-of-mouth is potentially exponential! Desire and demand for your product increases while brand satisfaction abounds because:
- Stan is also likely to communicate his satisfaction online, where other potential skateboard buyers are privy.
- Stan Jr will also spread the word and reach those actually riding the boards, along with friends and fans of the culture
On the less charming side, customer sentiment wields a double edged sword. What if Stan’s request was lost in the shuffle and goes unnoticed? Perhaps his request was left unanswered due to insufficient contact information? This is where a Customer Relationship Management (CRM) system can really make your business shine.
As large and small businesses alike are now more than ever highly effected by customer satisfaction, i.e. referrals and repeat transactions, a CRM for business solutions is indispensable for tracking and maintaining positive client relationships. The moment a potential customer makes contact, your CRM safely stores their contact information and all pertinent data related to the opportunities they present. It’s
customer satisfaction through information management. Sound too simple?
According to TechTarget 84% of companies lose 12% of their customers every year due to incorrect contact information. Luckily, cloud based CRM solutions can do more than securely store data. You can also maintain in depth client profiles with social preferences and histories. Data includes interactions through a variety of channels like
- Real-time chats
- Email correspondence and blasts
- Posts to social platforms
Your eZnet CRM will also enable target-specific email campaigns and knowledge-gathering analytics to help develop successful sales strategies.
If you’re still concerned with ROI (and really, who isn’t?), your CRM software will track marketing costs and help determine which strategies are paying off. As things go, it’s not just the bottom line of your financial statement that determines your success, it’s the long term satisfaction of your customer base that guarantees your company’s future revenue and growth.