In order to provide this level of service, businesses need to rely on certain technologies. Advanced CRM is naturally the best place to start. CRM empowers businesses to not only focus their efforts on their client base, but to also better handle their own data and communications. Likewise, just as the best CRM options are entirely web based, the best customer lifecycle management techniques take advantage of cloud technology to provide unfiltered access for sales teams, regardless of device, location, or time.
Organizations can use CRM to develop a more accurate picture of their target audience, allowing them to take advantage of targeted marketing efforts across multiple channels. This results in more qualified leads entering the sales funnel, and allows sales teams to more efficiently direct their resources towards leads that are likely to become customers.
As the leads enter the pipeline, CRM technology can automatically gather, analyze and store vast amounts of relevant data. Businesses can use this data to create highly accurate customer profiles, and to give sales teams a leg up on giving their leads what they really want. Lead tracking also begins here, giving sales teams the advantage of always knowng what stage the lead is at, and what actions need to be performed to help them progress forward.
Leads that complete a sale and become customers are an extremely valuable resource. Studies suggest that it is 4–10 times less expensive to sell to repeat customers than it is to acquire new ones, and that repeat customers generate up to 10 times as much revenue. An effective customer lifecycle management solution helps businesses retain valuable repeat customers by personalizing followups, presenting special offers and loyalty programs, and by strengthening the relationship through direct communication and reliable data.
By taking advantage of CRM technology to provide clients with a one-to-one customer journey, sales teams can cultivate continued interest in repeat customers — cementing customer loyalty, gathering and acting upon client insights, and helping them become brand ambassadors.
From lead to loyal, the right customer lifecycle management best practices can help ensure that sales teams are providing their clients with the individual, personal support that they need. Of course, with so many CRM and customer lifecycle management providers, many businesses are questioning how they can find the solution that works best for them. Salesforce provides the answer.