For customers to feel like their opinions matter to a company is very important to many of them. Most people want to feel as if they are needed and valued in some way, and this is true not just in their personal interactions, but in their professional interactions as well. Because of this, more and more businesses are using CRM software in their dealings with customers. This is not the only reason for the use of this software, but it is part of what makes it so appealing to companies that want to have good relationships with their customers for a long time to come. These companies know that CRM software can be used quite easily to work with names, addresses, and dates, but that there is much more to it than that. This software also helps to keep track of conversations and customer complaints, and it makes it possible to email customers with new information, sales offers, or surveys that they can complete.

CRM, or customer relationship management, software is a great way to make customers feel like they are valuable, but it is also an important tool for the company, especially where the sales force is concerned. By storing information on customers, it is very easy for a salesperson to feel more at ease and have a better idea what a customer might be interested in. This is valuable for a couple of reasons. First, it does not waste the time of the customer by inundating him or her with useless offers that he or she would not be interested in. Second, CRM software helps the salesperson use his or her time more effectively by providing a clue as to what each customer might need and want. This does not mean that every salesperson-customer interaction will result in a sale, but it does raise the chances of making a sale and helps the salesperson to seem more knowledgeable about the situation and the customer, which are both good selling points for any

Each day thousands of small business owners and C-Level Executives read their profits and loss statements (P&L), financial records to sales reports. Searching and scanning for increases in sales, orders and profits while hoping for decreases in cost of goods sold or other direct costs as well as indirect costs. Yet, through all this, they are probably missing one figure that never shows up on financial reports.

And, do you know what that number is? And the answer is RELATIONSHIPS from your loyal customers!

Was that the answer in your head? Did you think of something else?

Since this figure is not clearly articulated in any of the traditional reporting metrics, what happens is that current problems are really symptoms in disguise. And then the solutions do not deliver sustainable change because the real problem is not addressed.

For example does your business suffer from:

  • Lackluster sales problems?
  • Training problems?
  • Employee turnover?

These are just a few of the many symptoms facing most businesses because they fail to understand the purpose of business: Attract and Maintain Loyal Customers.

Customer loyalty or rather the lack of customer loyalty is the real issue. For example, customer service research suggests that:

  • 5% retention in loyal customers can create an increase of anywhere from 25% to 100%
  • To acquire a new customer costs 5 to 10 times more than keeping an existing one
  • Up to 75% of those customers who left you considered themselves to be satisfied

Small businesses to Fortune 500 organization need to leave the 20 century model of customer satisfaction and embrace the 21 century paradigm of customer loyalty as the key critical measurement to business success.

To take such bold action requires thes

Categories