If you do some research online, you will be surprised at how many business management manuals talk about putting the customer at the centre of everything.
And you’ll be surprised why, despite seeming a widespread idea, very few companies put it into practice.
Why is that?
The problem is ignorance and noise.
Most companies know that they should put the customer at the centre of their organisation, their marketing and their day-to-day business, but they don’t know how to do it.
It is normal, while the gurus fill their mouths with pompous phrases such as “you must listen to the market” and complex and expensive techniques such as market research or big data, they forget to tell companies what they can do from today to put the customer at the centre whatever the budget is:
Listen to your client.
Listening to your client and making the most of that information is precisely what CRM and relationship marketing is all about.
What is relationship marketing?
It is one of the branches of marketing that is responsible for creating close and lasting relationships with your customers.
This, of course, helps you to build up their loyalty, but it also serves you for much more:
- It allows you to catalogue and analyse your customers
- It gives you the necessary knowledge about your market
- You manage to communicate better with customers
- Increase the LT and bounce the LTV of your customers
Enables you to catalogue and analyse your customers
For most companies, their customers are a more or less homogeneous group of people who know the basics about their problems, demographics and common general characteristics.
The reality is different.
For most companies, their clients are many subgroups with very particular characteristics that have only a few things in common among them.
Thanks to CRM and relationship marketing, you can learn more about these subgroups and have a better understanding of your customers.
It gives you the necessary knowledge about your market
When you start to have a better understanding of your customers, you start to discover what kind of customers there are more of, which ones get more value from your solution or what kind of campaigns are the most profitable.
That’s when you start listening and getting to know the market, but always starting with your own customers.
You manage to communicate better with customers
When you understand the market and the characteristics and problems your customers have, you can start to personalize the messages more.
The key here is to deliver the right message, to the right person at the right time.
Needless to say, without first knowing your customer, this is impossible.
However, when you get the information to do so, the results of your marketing campaigns and sales calls simply skyrocket.
Increase the LT and bounce the LTV of your customers
One of the most important metrics for the vast majority of businesses is Life Time (LT). These acronyms represent the time that your relationship with a particular customer lasts.
When you manage to establish better and higher quality relationships, the LT inevitably increases and consequently an even more important metric increases: Life Time Value.
The Life Time Value (LTV) is the metric that marks how much revenue you earn from a customer throughout their relationship with you, and is the main metric for calculating your company’s future profits and the marketing costs you can afford to assume in order to be profitable.
As the LT increases, so does the LTV.
How does a CRM and relationship marketing fit into this strategy?
The CRM within this strategy is simply the most important part.
Without such software, it is impossible for you to document all the information about your customers.
Without this centralised information, you cannot analyse and understand the market properly.
And without understanding the market and knowing your customers, you can’t send them the right messages at the right time, you can’t improve your customers’ LT and LTV and the strategy becomes meaningless.
So, if you want to work the CRM and relationship marketing strategy in your business, you simply need a CRM.
How we at Efficy provide you with the perfect CRM and relationship marketing
At Efficy we know that every business has different needs.
That is why we listen to you first and then prepare a tailor-made solution, thanks to the fact that we are the most flexible and scalable CRM on the market.
The best proof that the system works is that we have over 4,500 clients in more than 33 countries.
You can start marketing better and get more sales today.
Shall we talk?
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