What are the successful customer relationship management strategies?
Do you want a fail-safe way to improve your business performance? The answer would be definitely YES. Show
For that, all you have to do is give your customers a strong reason to form an emotional connection with your business. Overall, 74% of businesses using CRM report agree of having better customer relationships as a powerful marketing weapon. Money can not buy one of the most important things vital for your business: relationships. You might think now customer relationships drive your business? That’s true! Good customer relationships are based on good customer experience. Developing strong relations with customers and creating great customer relationship management examples encourage faster business growth, gain new customers, and retain the existing ones. The top customer relationship management examples discussed in the blog show how brands put effort into structuring good customer relationships. What is Customer Relationship Management (CRM)?Customer relationship management refers to the art of managing good customer relationships and prospective customers. It is all about understanding who your customers and potential customers are, and nurturing the relationships you have with them. It is about identifying client expectations and how you meet or go beyond their expectations. A customer relationship model seeks to improve the relationship between a business and the customer. For this, they drive new trends and provide profits for current and future operations and investments. The below model is one approach to implement CRM.
Customer relationship management model can be further categorized into below stages
How Creating Good Customer Relationship Management (CRM) Foundation Matter?Customers are the heartbeat of all businesses. Therefore, creating good customer engagement examples by strengthening relationships with clients is crucial for business success. Through good and bad times, maintaining a healthy customer relationship with all your customers will help in sustaining the performance of your business. Whether it is online event companies or trade events, this reason is making/forcing businesses to develop an excellent customer relationship for maintaining good performance. Developing good CRM and marketing helps your business to set better customer relationship management examples. Let’s talk about the key areas of developing good customer relationship management
So, now let us find out businesses have used innovative customer relationship management and marketing models/strategies. 8 Examples of Innovative Marketing & Customer Relationship Management (CRM)In order to improve customer relationships, you need to focus on each and every interaction made by customers with your brand. Here are some of the best customer relationship management examples that delve important customer interactions. 1. Deliver live assistance to boost customer engagementAberdeen Group’s study found that businesses using visual engagement tools marked an 83% year on year increase in annual revenue and achieve 2.7x greater annual improvement (decrease) in customer effort score. Live assistance is gaining ground as a prominent communication channel for banks as it makes interaction easier. It helps to wrap up a large part of the customer journey context and boost customer satisfaction. Instead of waiting for bank visits to carry out key transactions like applying for a loan, via using visual tools like video chat and co-browsing, customers gain faster as well as in-person engagement. Live engagement platforms offer face to face video chat assistance that assures security to customers for handling their finances via direct conversation remotely. Co-browsing solution greatly impacts online customer support by empowering your agents to converse over the customer’s browser and assist to the right page or filling up forms. Benefits of virtual banking with live assistance tools
Commercial Bank of Kuwait (CBK), the leading bank has implemented REVE Chat’s video and co-browsing solution to deliver live assistance to its customers. With live tools, the bank has witnessed a significant increase in customer engagement. Sign Up with REVE Chat and offer personalized customer service by directly interacting with them and learning the root of of the issue. Takeaways
2. Have an omnichannel presenceAs technology has evolved, the number of communication channels has also grown exponentially. Businesses now have multiple marketing and customer service channels to communicate with their customers, including both offline and online methods. Having more communication channels is a good thing for a business as it makes the ability to interact with customers, and serve them. With omni channel support, you can integrate text, instant messaging, social to deliver a unified brand experience so that customers can switch between multiple channels still experience consistent service. Oasis, one of the leading women’s clothing brands, focused on delivering the best omni channel experience to its customers. It focused on three main areas to give a better experience to its customers
As it identified that maximum touchpoints were made via social platforms, it thought of doing something different to impress its Instagram followers. It created a special gallery of user-generated Instagram content, substantially encouraging customers to model the clothes they have bought from the Oasis store. Takeaways:
3. Automate customer supportDelayed response is one of the top reasons why customers decline and leave you at risk of your competitors. Nothing makes a customer happy and satisfied than a faster response. Ubisend study says, 21% of consumers believe chatbots are the easiest way to contact a business. Automating customer support with the best chatbots can redefine your customer satisfaction rates by improving your response times, engagement, and your customers’ interests. Real-time service is invaluable in retaining your current relationships and prospects as well. Chatbots also help businesses to
Hipmunk, a famous travel platform used searching for travel deals. It attempted to use the AI technology to engage customers at a closer level and created Hello chatbot
How the Hello chatbot helped customers?
Some takeaways for you:
4. Continuous marketing engagementLack of engagement is one of the big red flags for customers churn with your business. The trick to avoiding this problem is to keep them happy and engaged in post sales. Because loyal customers are far more profitable than new customers. How do you do that? It can be a daunting task to maintain continuous engagement with your customers to offer support to foster this crucial business relationship. But the thumb rule is: the better is the engagement, the happier your customers are. When customers are engaged correctly they are more likely to retain, recommend, and buy more. If your customer engagement strategies are effective, they will positively impact your KPIs. Here are some strategies to improve continuous marketing engagement:
Sephora’s Beauty Insider rewards program is globally popular.
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5. Use social media for customer serviceSocial media has emerged as a crucial touchpoint in structuring customer relationships. Customers share their positive as well as negative reviews and experiences over social and expect an immediate response. According to Gartner, churn increases by up to 15% for businesses that fail to respond to messages on social media. Popular social channels like Instagram, Facebook, LinkedIn, and Twitter is not just for business promotion. They can be used to connect with your customers. Almost 78% of customers want brands to help people connect through social media. Framing good customer relationships on social media help businesses to improve relationships with customers by making them feel connected to your brand. Make your customers feel happy after interacting with you. It helps in creating strong connections with customers over social media. For instance, Nike engages its customers and make them feel they are available in fixing their issues even though customers can find the solution themselves. Takeaways:
6. Improve your conversion ratesYour customers are your greatest assets as they are the ones who will vouch for the quality of your products and services. If you play your cards right you when it comes to customer experience, your customers can turn into your marketing representatives. And how having customers as marketing professionals is effective? If customers are satisfied with your service they turn to their friends and family for recommendations. They share their success stories with your brand with a positive word of mouth. Referrals convert at 3-5 times a higher rate than other marketing methods. The referred customers are more loyal and have higher lifetime values. Casper Mattress company came with an irresistible offer. It offered to take a mattress home and sleep on it for 100 days before deciding whether to return it. Such an amazing offer along with quick online ordering and home delivery – nobody wanted to miss it.
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7. Increase customer satisfactionForrester’s research indicates that expectations toward customer service are related to three main factors: the success of the solving process, ease of the solving process, and emotions during the solving process. The journey of providing your customers with a positive experience starts from the moment they visit on your website and extends beyond the moment they become your customer. Keeping your customer’s expectations a top priority and going the extra mile to meet those expectations will boost their satisfaction and set great customer delight examples. A customer’s experience and feedback should be the factors that validate important decisions within your business. Seeking for customers’ feedback and implementing it make the customers feel.
Airbnb surveys take customer’s opinions after their stay, giving them the space to decide whether they want to share their feedback or not. Airbnb has increased the number of bookings by 25%, just with their referral program.
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8. Develop a strong brand imageEvery business puts its best efforts to develop a strong brand image for fueling business-customer relationship. Strong brand image impacts in increasing the trust level in customers and helps in customer retention. Successful branding leads to increased customer loyalty, an improved image, and a relatable identity. TSL Marketing The brand image can be strengthened through making use of brand communication with word of mouth. Colgate, for example, is a popular brand name. It has built an image in customers that it is the best product for maintaining their dental health. Usually, customers go for Colgate as a brand as they are strongly connected with it. Takeaway:
Final Thoughts on Customer Relationship Management ExamplesCustomer relationship management is an integral part of every section of the business. It is not limited to customer support only rather it applies for the whole customer life cycle across their journey. Developing long-lasting customer relationships is crucial for businesses as it helps your brand to stand out and give customers reasons to emotionally connect with you. However, having a strong foundation of customer relationship is the base of every business. Businesses are different but the core essence of success will always remain the same. And REVE Chat’s live chat platform allows you to understand and address customer concerns in real time that strengthens customer relationships. Sign up today to set an excellent customer relationship management example. What are customer relationship management strategies?A Customer Relationship Management strategy is a plan to grow sales and improve customer service through a combination of processes, actions, and technology. It typically involves the sales, marketing, and customer support functions of a business.
What are the steps of successful relationship management strategies?Get Started with CRM. Assess the situation and gather information. ... . Develop the CRM strategy. ... . Assess the existing situation. ... . Develop the new business processes. ... . Develop the organizational and ICT requirements. ... . Create an implementation plan. ... . Implementation.. What are the 5 keys to successful CRM implementation?5 Key Ingredients for a Successful CRM Implementation. People and process first, software second. The best CRM software doesn't overcome process or people shortfalls. ... . Executive Sponsorship. ... . Define CRM Success. ... . Implement Gradually. ... . Actively Manage the Implementation.. |