The customer relationship it is the development of a continuous connection between the company and its customers. They are the ways in which a company communicates and deals with its existing customers The relationship involves marketing communications, sales support, technical assistance and customer service.
The relationship is measured by the degree of customer satisfaction throughout the purchasing cycle and following the receipt of products or services. When it comes to increasing profitability, it's tempting to focus on making new sales or chasing bigger customers. However, serving existing customers, no matter how small, is essential for the business to continue to progress..
Customers play the most important part in a business. In fact, the customer is the actual boss in a deal and is responsible for the actual profitability of the organization. The customer is the one who uses the products and services, and judges their quality.
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Most companies know what their customers buy, when they buy and where. But few really understand why customers buy, and why they decide to start a relationship with companies..
Business leaders need to define more clearly what customer relationships mean. A good understanding of customer relationships helps align the tools that a company uses with the strategy that is being followed.
Defining customer relationships is a necessary step to deliver what customers really want and to drive business results..
This means that there is no real relationship between the company and the customer. The company interacts with the customer on a transactional basis. For example, a kiosk at an airport generally does not really establish a relationship with its customers..
This means that a long-term, and even deep, relationship is established between the company and the customer. The company interacts with the customer on a recurring basis.
This relationship is based entirely on the interaction between people. The customer has the ability to contact a sales agent for assistance during the sales process or after completing the purchase.
This can happen in person, by email, through a call center, or by other available means..
In this type of relationship, a sales representative is dedicated specifically to an individual customer. It is the closest type of relationship and usually develops over a long period of time.
For example, in private banking services, there are bankers dedicated to serving people with high net worth..
Similar relationships can be found in other businesses, in the form of key account managers, who maintain personal relationships with important clients..
In this type of relationship there is no direct relationship between the company and the customers. Rather, all the necessary means are provided for clients to help themselves..
This relationship takes a more refined form of self-service, combining it with automated processes. Through personal online profiles, for example, customers are given access to personalized services.
Automated services can recognize individual customers and their characteristics, and offer information regarding orders or transactions..
Companies use user communities to become more involved with potential customers and to facilitate links between members of that community.
Many companies maintain online communities to allow users to exchange knowledge and solve other members' problems. Communities can also help companies better understand customers.
The relationship with customers can change from time to time as it evolves in various situations. Below are the stages from which customer relationships can evolve.
Exploration is the process in which the customer investigates or tests the supplier's capabilities and performance, or cross-checks the utility of the product or brand.
If the test results fail to meet the client's needs, the relationship can drastically end..
Awareness is the process when the customer understands the motivating values of the supplier or the products it sells.
Expansion is the process when the supplier earns the customer's trust, and the customer falls under immense interdependence with the supplier. This is the time when there are more business opportunities with that particular client and expand the business..
Engagement is a powerful stage when suppliers learn to adapt to business rules and their goal is to excel.
Dissolution is a stage when the client's requirement suddenly changes and you look for better prospects. This sudden change is the end of the relationship.
The relationship may come to an end due to many reasons, such as the customer is not satisfied with the provider's services or the customer forks to other better brands and products..
Vendors may also prefer to break off relationships due to the customer not being involved in increasing sales volume or when vendors become entangled in fraud cases..
The secret to repeat business is to follow up, in order to have a positive effect on the customer.
The follow-up begins immediately after a sale, when the customer is called to thank him, and it is verified if he is satisfied with the product or service.
This can be in the form of an email newsletter that is sent to existing clients, or it can be more informal, such as a phone call..
Whichever method is used, the key is to expressly indicate to customers what quality service is being provided..
Make a phone call to let them know they don't have to worry, because the paperwork has already been handled, the attorney called, or made sure to verify the shipment, one less thing they don't have to do.
If you run into a former customer at an event, follow up with a note: “It was wonderful to see him at the CDC Christmas party. I'll call you early in the new year to schedule a lunch. ".
Voicemail and email make communication easy, but personal contact is lost. You don't just have to have these tools to track.
If you have communication problems, leave a voice message indicating that you want to speak directly with the person or that you will stop by their office at a designated time..
Send already established clients birthday cards, anniversary cards, etc. Gifts are also a great tracking tool.
You don't have to spend a fortune to show your interest. Get creative to come up with cool gift ideas that tie into the company, the customer's business, or their most recent purchase..
If reading an article or looking at a new book, which a customer might be interested in, send a note or make a quick call to let them know.
Customer Relationship Management (CRM) is a strategy to manage a company's relationships and interactions with regular and potential customers.
A CRM system helps companies stay connected with customers, streamline processes, and improve profitability. CRM should be updated and account managers are aware of changes to customers.
Conduct customer satisfaction surveys and evaluations. By asking questions, listening carefully, and showing empathy, you try to get to the heart of what customers really want..
Answer specific questions over the phone, by email, or in person. Attend meetings with clients to build relationships with existing accounts.
Keep in touch with internal departments to ensure that customer needs are really met.
Act as a link between customer service and other departments, especially sales. Bringing specific customer complaints to the attention of someone who can resolve the situation.
Alert the sales team to future sales opportunities within key customers. Also convey general feedback heard from customers to help build a better product or develop a new service..
Escalate and resolve existing areas of concern, as raised by customers. Sometimes there is no easy answer to a situation with a client.
When such situations arise, you are tasked with finding out what went wrong, how the problems could be fixed, and how to prevent them from happening again..
Create connections on behalf of the company. Notify customers regarding other products the company offers. Build and maintain relationships with clients and key personnel within client companies.
Existing customers can be called in to ensure their satisfaction, network within the community to identify potential customers, and contribute to the organization's marketing campaigns.
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