“It is easier to keep an existing customer rather than trying to find a new one”.
Companies know their bottom line is directly impacted by repeat business and without it, the business can struggle. Customer Relationship Management Marketing can generate new opportunities, repeat business and most of all, additional revenue.
Whether large or small, each and every business is dependent upon their customer relationship strategy. All companies should be driven by their customer wants and needs, otherwise they can struggle and eventually fail. Aligning client needs with company products and services is critical in client retention and company growth.
CRM systems help track every aspect of a customer through sales and into ongoing support. Many companies fail to utilize their own client base for revenue generating opportunities. Through these systems, marketing other products and services to existing clients can create “Starburst Opportunities” that can add to the bottom line with minimal expense.
For example, you may have an existing client using one of your software tools for a significant period of time. Over time, their usage of the tool increases and history of various support calls come in that has been resolved by another application or service your company offers.
This is a perfect opportunity to call on the existing client to present the new offering. The current relationship is leveraged for a new sales lead that could very well benefit the client as well as the company m a true win/win situation.
In summary, your current customer base is a hotbed of potential sales of other products and services you offer. You already know the client and their wants and needs, so you are ahead of the curve when it comes to building rapport and presenting your offerings. Customer management relationship marketing is another channel that should not be ignored, if you are not using it, you are leaving money on the table.