BAASS Insights Technology Blog

When it comes to managing your customers, you have one of two ways to go about it: you can engage in conversation when your customers reach out to you for a service or new product, or you can pursue an active relationship with your customers and prospects so you are always in front of them. It does not take much to see that one way is far superior to the other. If you are leaving your customer relationships to chance and only interacting with prospects when they contact you, the chances of meeting your sales goals are not very high.

You’ve planned for months to purchase and implement your new customer relationship management (CRM) system. Now that the system is in place and your customer records have been imported, it’s time to get the most benefit from it.

Your CRM system can be a valuable part of a strong customer retention strategy. Marketing experts speak of the marketing cycle as acquisition, retention, and loyalty. Acquisition is the first step; it means to attract new customers to your business. Retention and loyalty are closely linked, with retention meaning customers returning to your company and loyalty meaning they return and wouldn’t dream of going anywhere else.  

CRM or customer relationship management is a comprehensive approach to managing customer communications and relationships. Some people treat CRM as a software only, a method by which they manage customer contacts, but it’s so much more than that.

Launching a new CRM system is an exciting time in a company. At last, you’ve got the tools you need to reach customers, communicate effectively, prepare engaging marketing programs, and synchronize it all with the rest of the company’s data. But don’t breathe a sigh of relief just yet. There are still a few more tasks to tackle before you can say that your CRM project is complete.

Determining the priorities among the many competing interests and ideas for your new CRM system can be challenging. Choosing standard or custom reports, determining which actions move to the front dashboard and which remain as dropdowns, it’s a never-ending list of choices that, in the end, will make your CRM system uniquely yours.

There are a lot of acronyms dominating business technology today — HRIS, ERP, BI, AI and so many more. Another acronym that you may be hearing more and more in the business technology world is CRM — or Customer Relationship Management.

In the never-ending goal of gaining new customers and maximizing revenue, sometimes exiting clients are ignored. However, isn’t it true that it is cheaper to maintain an existing customer than to acquire a new one? So then, why not focus on customer retention?