Customers are now in charge. Thanks to the growth of the Web, it is easier than ever to comparison shop and switch from one business to another with the click of a mouse. However, research has found that in the online market, customers yearn for trustworthiness more than ever.
Customer relationships are a companys most valuable asset – worth more everything else combined as no customers = no business. Getting and keeping more customers who stay with you longer is crucial. If your customers are loyal to your business, they will be much more likely to choose you over your competitors. Loyal customers will be much more likely to tell their friends about you. Loyal customers spend more and bring in even more new customers. Loyalty is immensely valuable. Research has shown that a 5 percent increase in customer retention rates results in a 25 percent to 95 percent increase in profits.
Its easy to say customers are our most important asset but turning CRM strategy into bottom-line results is hard work. It means winning the battle for customers hearts and minds every day, with each interaction at every customer touch point. Long-standing relationships only arise...
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