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Category: Customer Retention

Increase Customer Retention with a CRM

By TouchConvert
February 13, 2018 Category: CRM, Customer Relationship Management, Customer Retention

All the hype about lead generation and conversion leads business owners to think the hook is all they need. After all, once you snag the big fish, he is yours. Right? Unfortunately, this faulty thinking causes many businesses to lose customers. Customer retention strategies prove equally, if not more, important than baiting new customers. Customer Relationship Management (CRM) provides a system for managing current customer interactions and maximizing those relationships. Why Customer Retention Matters: Establishing trust and confidence with consumers brings them back. Building this relationship matters to your business because this source of revenue is the easiest and most stable. Customer retention: 1. Saves Money Yes, customer loyalty reduces your expenses. According to a Bain Company report, hooking new customers proves six to seven times more expensive than retaining existing customers. Plus, less time is spent identifying and convincing prospects that your product best suits

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