Leading companies throughout the world, including Apple, USAA, and Slack, invest millions of dollars to polish their customer relationship strategies and become more customer-centric. Yet, those who start working towards better customer relationship development often fail to realize that it is a strategy that goes far beyond increasing their customer base. It is a relationship management approach that allows you to build a more customer-centric culture and deliver more personalized experiences to all customers.
If you want to improve your customer relationship development game, there are many aspects you should consider.
Not particularly sure where to begin? This article is a great start! We have highlighted the top six factors you should keep in mind when designing your customer relationship development strategy.
What is Customer Relationship Development?
Before we move further to discuss six success factors, let’s first define customer relationship development.
Customer relationship development accumulates different approaches that allow companies to develop and manage their interactions with prospective and existing customers.
Customer relationship management is important because it helps to build a stronger connection with customers that, in turn, builds loyalty and retention. Since both customer loyalty and retention directly impact companies’ profits, a well-implemented customer relationship development strategy can result in increased revenue.
Now, as you know exactly what what we’re talking about and and why it is important, let’s take a close look at the six key factors you should consider when developing your own strategy.
Lead management refers to the process of acquiring and managing potential customers (leads) until the point when they are ready to make a purchase. Strategic lead management is key to successful customer relationship development. Therefore, it is important to focus on nurturing your sales leads, so they can later add to your customers.
Knowing your buyer profile is the first step towards successful lead management. This includes setting up a profile of your target personas that your sales department can reference. This way, you can ensure that the definition of a “good” lead always matches.
Customer service is another factor that majorly impacts your business. Besides solving client inquiries, customer service provides invaluable insights into customer pain points and purchase decisions. You can use this data to tailor your customer relationship development strategy concerning the real problems of the real customers.
Besides customer relationship development, you can use insights gained by your customer service team to inform your sales, marketing, and personnel departments. This way, you can ultimately improve customer relationships by making more educated and customer-oriented choices.
With workflow automation, you can streamline different processes and improve the overall efficiency of your business operations. Plus, workflow automation can help your customer relationship development efforts by reducing redundancies and other client-related problems that can negatively impact customer relationships.
Salesforce automation is an essential component of customer relationship development. It includes recording sales processing, sales forecasting, and tracking potential interactions.
Salesforce automation is used by many companies to identify revenue possibilities. It also includes opportunity management which gives a broader picture of the interconnection of sales and other functions of the company. This way, automating salesforce becomes an invaluable tool to implement in customer relationship development.
With more consumers expecting brands to act on their comments, feedback has become key to successful customer relationship development. In fact, studies conducted by Microsoft show that 52% of global consumers believe companies should take action on the feedback offered by customers.
Email is the perfect medium for gathering customer feedback that you can later use to improve customer relationships. Here is a great example of a well-crafted email asking customers to share their thoughts.
Engaging customers with copy is the hardest part of getting their feedback. So, if you are struggling to come up with a creative copy for your email newsletter, you can use the help of dedicated services, such as Preply, to hire professionals.
Analytics is the final success factor, closing our list. By keeping track of the relevant data, you can observe trends and patterns to improve your relationships with customers.
After you gather data, translate it into bar charts, graphs, pictograms, and diagrams to share them with different departments. This way, you will keep your teams updated on the current data points. Also, you can use this information to monitor and calculate the progress of your customer relationship efforts.
The Bottom Line
Customer relationship development revolves around the idea that a customer is a king. In fact, more and more leading companies redesign their business models to be more customer-centric.
There are many factors you should consider when developing your customer relationship development strategy. Even though considering these six factors does not guarantee that you will build a whopping loyal audience overnight, with dedication and a well-designed strategy in place, you can ultimately improve customer relationships!