Research shows that customer retention plays a pivotal role in boosting revenue and increasing long-term profitability. It’s also been said that “it’s easier and less expensive to retain customers than to acquire them”.
A recent Forbes article also provides some interesting statistics on the issue of customer retention and customer loyalty:
- 77% of consumers say that convenience is a major factor in selecting their service providers.
- 68% of consumers globally feel more loyalty toward the brands and organizations that make it easy and convenient to engage with them.
- 48% of customers are more likely to be loyal to the brands that use the latest technology to engage and connect with them.
A technology driven CRM platform like Qobrix offers several features that address the complex operational workflows of the real estate industry, streamline processes, drive better customer interactions and build effective, long-term customer relationships.
So, how does a CRM help your sales team turn qualified leads into retentive customers that will want to stay loyal to your business instead of switch to a competitor?
Strategic data management
- A CRM system that can effectively manage your sales team throughout the sales process, including tracking individual or team performance, and which can generate a variety of real-time data driven reports that will speed up decision-making processes so that your business can run more optimally – is an absolute must.
- In addition, with the influx of customer information uploaded to your CRM system every day, the risk of data being duplicated or becoming messy increases if not managed properly which can result in a less than favourable customer experience, loss of revenue and inaccurate business forecasting. The Qobrix CRM platform can help your team manage contacts and detect all duplicate entries which can then either be deleted, merged or disregarded.
Having the ability to properly manage your sales team and customer data improves your team’s competence in managing their customer relationships, thereby boosting the customer experience, and enhancing retention significantly.
Creating a sense of accountability
- The ability to access a wealth of data and a produce a variety of reports utilising your CRM is a huge asset for reporting purposes, particularly to internal and external stakeholders and potential investors.
- It also makes staffing or internal workflow changes easier to apply.
- Consequently, accountability increases because performance can now be accurately monitored and measured, backed by real-time data.
- In this way, the ability for your sales team to improve their performance due to improved insights through data increases considerably.
As a result, customer interactions become better and retention efforts achieve positive outcomes.
Consolidation of data
- A CRM like Qobrix consolidates all essential real-time client-related information and documentation in one place. It does this during the sales process and after the sale has been completed.
- As a result, customer queries and issues are seen to and resolved more quickly and efficiently, thereby reducing the risk of customer frustration and improving the potential for increasing sales and boosting revenue.
- The history of all customer interactions is also recorded and easily recalled, so your sales team are better informed to give customers the help they need quickly and accurately, enhancing channels of future communication and improving ongoing customer service.
Being able to access all the information you need in one place, makes managing customer queries and interactions more efficient, more effective and quicker – thereby improving the overall experience a customer will have with your brand, and increasing customer retention.