Customer Relationship Management (CRM) has typically been viewed as a technology and not as a tool for greater opportunity. As such, much of the focus of business is on the evaluation, acquisition, implementation, cost, and management of a CRM system – instead of how to use CRM as a key tool for the mining of new opportunities.
How does CRM help you find more opportunities? How is CRM an effective mining tool? The answer to both these questions can be answered in a simple sentence, “By helping you create more loyal and satisfied customers.”
Let’s take a look at how you can “mine” new opportunities – even from your existing customers and current operations – by using CRM to accomplish the following five activities:
- Find and Nurture Your Best Customers: Many businesses focus on the customers that buy the most, thinking that revenue equals success. In the end however, it’s loyalty, satisfaction, and profits that equal success. CRM identifies the most loyal and profitable customers and gives you the tools needed to nurture those relationships into more opportunities for your company.
- Align Goals: When your customer service and value align with your customer’s goals, the outcome is a ‘win-win.’ CRM captures, aligns, and assigns customer’s goals within your organization to maximize your relationship and opportunity capture.