How does CRM help with retention?
The basic objective of a CRM solution is to help with customer retention. Its secondary objective is to gain customer acquisition at a low cost, without jeopardizing existing customer relations and ensuring a smooth transition of a new customer to loyal long term customer. A focus on customer retention enables a company to achieve maximum positive results with regards to ROI, loyalty, acquisition, and revenue. Customer retention is the common thread that runs through all CRM objectives and most of all, profitability. CRM systems empower a business to efficiently retain customers by providing data on customer history, identifying valuable customers, niche customers, and frequent customers as well. The information extracted from the data is used to execute the two most crucial steps in retaining customer loyalty. These are ensuring customer satisfaction and being proactive with customer relationships. Customer satisfaction means promising and then delivering on your promise, getting it r
