Brand loyalty is hard to nail in the digital age. It seems that every business has a place in Google or on one of the popular social media networks. So how can you stand out from the rest and gain advocates in the process? Easy, by building brand loyalty with a CRM, here’s how.
What is a CRM?
CRM stands for Customer Relationship Management. It is one of the most important aspects of a business’s growth. Without a satisfactory relationship, businesses inevitably crumble under the strain of customer complaints and lost sales. A CRM application is a central system that works to improve a business’s relationship with their customers by creating easier ways for team members to track leads and contacts, take and access notes and review sales goals. It also displays real-time changes in buyer/prospect activity, including issues that may be occurring at any stage inside or outside of the sales pipeline.
The Importance of Customer Satisfaction
Customers aren’t just the lifeline of a business, they are its' lifelong support. If customers are happy, the business flourishes, gains more leads, more word-of-mouth advertising and their products can fly off the shelves. When customers are unhappy, sales dwindle, complaints circumvent and the brand is ultimately ruined. LinkedIn gathered a few eye-opening stats that you should know about customer complaints. Here are a few:
• 96% of unhappy customers don’t complain; 91% of those will simply leave and never come back.
• 70% of buying experiences are based on how the customer feels they are being treated.
• A 5% reduction in the customer defection rate can increase profits by 5-95%.
From these statistics, it’s very plain to see that a business’s relationship with its' buyers can either make or break it, both now and in the future.
How a CRM System Builds Brand Loyalty?
So now that you see the importance of forging a better relationship with your customer, it’s time to explore how a CRM can help to simplify the process.
A CRM system takes all of hassle out of gathering important customer and sales data. Instead of having to log into multiple systems to grab this information (which can be slightly annoying if you have a lead on hold while you’re doing it), a CRM centralizes all of this info into one application. Insightly’s CRM app works in the cloud, allowing you to leave your desk, work out of the office or work on the go. Since it is accessed in the cloud, you can update your lead’s status in the sales funnel real-time from any connected device, anytime. By doing this, everyone on your team will remain on the same page.
When your lead calls in to close a deal, they may get another agent. If you’re not there to update the agent on the latest information, this could spell disaster and confusion both internally and with your prospect or customer. With a CRM, your team members have access to customer notes and history, so they can effectively close the deal in your absence, or address the customer's question. This boosts customer satisfaction, team collaboration and sales productivity. If your lead is happy, he will share his experiences with others and come back for future purchases.
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