There is a reason why customer is king and keeping him happy happens to be the key to success for your business. A number of companies tend to undermine the importance of customer relationship management (or CRM) in the long run. While it is true that if you are a largely reputed company you may get customers who come in just because of your brand power. That, however, is far from sufficient when it comes to keeping customers for a long haul. Large enterprises must understand that existing customers still continue to pack in plenty of hidden revenue and a lot of value for your business. They are the ones who promote up-selling and cross-selling. That is why keeping the existing customers happy is extremely crucial to your business.
The value of compassionate and truly sincere customer relationship management has been lost somewhere along the way. These days, most customers tend to be surprised if a representative actually treats them with respect. Unfriendly customer service representatives continue to be the norm across most businesses. This is a matter of great concern, and if your business has been caught in the rut like this, a good business process management team focused on CRM can be one of your biggest assets.
Customers of smaller companies or start-ups tend to be much happier than those of big names. This is because the smaller companies pay much more attention to their customers, know them by their first name, and sometimes even drop by just to find out how they’re doing. Of course, knowing every customer by their first name may not be possible in the case of large companies. However, the moral of the story remains that you must keep your customers happy by any means and at all times.
BPM can help you identify the problems in your CRM strategy and help you fix them by creating a more responsive customer interaction system. In fact, apart from overhauling the system and promoting good employee behavior among customer service representatives, BPM also helps you with some really special tools.
Salesforce.com, for instance, happens to be tremendously helpful software for those hoping to improve their CRM stats. It is an automated system that sends alerts to the key departments and people in your company about the addition of a new customer and creates a record for them in the company’s accounting system. In addition, it enables the sending of a welcome packet and keeps a record of all steps taken. This way, you can much more effectively manage your customer relationship and in turn, keep them coming back, often with their friends. At the end of the day, happier customers bring in larger revenues.