How Custom CRM Software Development Helps In Improving Retention Rates
Do you know that acquiring a new customer can be 7 times more costly than selling to existing ones? Custom CRM software development can be an effective tool in boosting customer retention rates. What is your biggest objective as a business owner? The most common answer to this question is to increase sales. To boost sales, most entrepreneurs invest in strategies to attract new customers. While getting more and more people to buy your brand is important, the higher cost involved in the process makes it essential to have a retention strategy in place.
A custom CRM system can be a valuable asset in improving retention rates. Nearly every business has a plan to engage its audiences. But most small enterprises do not strategize this engagement to foster customer loyalty. They must take a leaf out of large corporations’ books and enhance customer experiences to strengthen their relationship with the target audiences. Custom CRM development can help you build an application that aids your organization in implementing a successful retention strategy.
1. Map Customer Journeys With CRM
You cannot successfully engage people unless you know their likes and dislikes. Moreover, audiences’ requirements are driven by various factors. To understand, what is important for a client at a certain point in time, you have to map his/ her journey with your brand. Large corporations start recording a potential customer’s interactions from the first instance. This allows them to create a detailed customer journey map that includes all the important information. The process gives them a visual understanding of their audience’s behavior.
Top CRM development companies say that the mapping process helps in knowing customers’ preferences. For instance, if a person clicks the links in your email newsletters regularly, then emails will be the best medium to engage him. You must connect with him on other platforms like social media but your primary focus should be on using emails for building a strong connection. Your CRM system by recording every interaction with a client will be a strong ally in mapping customer journeys.
2. Define Customer Expectations
Most business owners, especially those in the B2B sector, often complain of their clients’ unrealistic expectations. Do you know that your CRM application can help you resolve this problem? Start by defining customer expectations. Yes, you heard it right. Before your clients can state their expectations, give them in writing what your brand is going to provide them. For example, a custom CRM development company can offer 3-month support with the development package. The agency will have to implement the new system and impart training to the users at the client organization. It will take 1-2 months depending on the size of the organization and the scale of the implementation. Formalizing this in the contract will assure the client and create a good image of the agency. Mine your CRM data to understand customer expectations better.
3. Know Customer Pain Points
What are the problems being faced by your audiences? What are the features that they feel are missing from your products or services? The answers to these questions will help you define a robust engagement strategy. When you are keyed into your audiences’ thinking, you can easily align marketing messages and products accordingly. Custom CRM software development can help you identify your clients’ pain points. Encourage users to provide feedback about your offerings and organization. Use polls, surveys, and other mechanisms to get feedback. Link your feedback generation devices to the CRM application. The system will help you analyze the data and create enhanced customer journeys that include a buyer’s current needs.
4. Use Your Custom CRM Software For Segmentation And Personalization
Personalization is arguably the most effective way to boost engagement and customer retention. Every brand is connecting with its target audience through multiple mediums. People feel tired and bored by receiving the same generic messages. A personalized approach captures their attention. When you talk about the specific problem that they are facing, they take notice. A CRM software development product will help you segment your audiences. You can divide them into various groups based on factors linked to your main business goals.
For instance, a fashion brand wants to increase the sale of its new clothing line targeted at the 21-25 age group. It can use the CRM data to identify female audiences belonging to that specific age group. You can segment the customers further. For example, the fashion brand can divide the segment on the basis of annual income. It can then target clients with different product recommendations. This is one of the biggest advantages that custom CRM software development offers to businesses.
5. Reduce Your Response Times
No matter how hard you try, there will be some unpleasant customer experiences. You cannot avoid these instances but can mitigate the damage caused by them. Make sure that you automate the process of feedback generation after the completion of a service request. This can be easily done with a custom CRM tool. This will help in instantly knowing about bad customer experiences. Define a process to engage such customers. Delegate responsibilities to different team members for completing the process. This can also be done through the CRM application. You have to set the alerts and notifications will be sent to the relevant users. Ask your custom CRM software development company to integrate the necessary features. This will speed up your responses and prevent your business from losing valuable customers.
Why SDLC Infotech Is The Best Custom CRM Software Development Company For Building A Retention Boosting Application?
Businesses must use their CRM systems to implementing an effective customer retention strategy. SDLC Infotech is one of the best custom CRM development companies in India to build a growth-oriented tool. The agency will create an application that is aligned with your major requirements and goals. Here are a few notable features of the service provider.
1. Custom CRM Development After Extensive Needs Assessment
SDLC Infotech is considered as one of the leaders in custom CRM software development. The company builds a product only after conducting a comprehensive needs assessment process. This enables the agency to create a customized product to meet a client’s specific objectives.
2. Affordable Custom CRM Development Services
The company offers the best custom CRM development services in India at economical prices. SDLC Infotech uses modern tools and technologies along with project management best practices to optimize its workflows. This helps the company to deliver high-quality products at affordable rates.
3. Insights By Marketing And CRM Development Experts
All our clients get assistance not only from top CRM software development services experts but also from experienced marketing professionals. This helps our clients acquire high-performance products fitted with business-critical features.
Amritesh is a digital marketing strategist by profession. He is also an avid blogger and social media enthusiast. He is interested in all things related to technology and marketing. During his decade-long career, he has closely observed the evolution of the custom software and web development industry. When he is not working, he likes to write blogs and social media posts about tech topics. Follow him on LinkedIn and Twitter to read more of his posts.