The lack of customer relationship management.
Blame the men!
Now companies behave like most men on Tinder; we invest in a date (aka new customer), win her/him over, and think ‘on to the next one.’ After all, it’s about the numbers right? We are intelligent enough to realize how things turn out when attention is lacking.
Let’s start at the beginning: what is CRM marketing? CRM stands for customer relationship marketing. It covers a lot of things, but in a nutshell, it means that a company uses a CRM system to document and maintain customer relations and uses the data to improve relationships and generate more sales.
Data labyrinth
In practice, many companies do not invest in a CRM system or department. They rely on old systems that are already in use and fear change. Companies are driven by data from various sources (Google Analytics, socials, finance department, and so forth), but lack insight into the behaviour and personas of their present customers.
Loyalty is rewarded
In the absence of specific data, marketers are guided by too many generic sources or even worse, assumptions. Regardless, CRM is pre-eminently the tool for improving existing relationships and generating more turnover from your current customers.
More turnover ultimately means more budget for acquiring new customers. Research also shows that it is easier to turn a loyal customer into an ambassador than to acquire a new customer.
Unify marketing, support, and sales
I advocate the wider use of CRM marketing; not only will it make my job better and more enjoyable but also that of the account manager, store manager, CEO, and any other person who has contact with his/her customers. Make sure you go all the way and start building a CRM department; the unifier between marketing, support, and sales.
Stop swiping, start building and turn the churn (in the comments you’ll find three reasons for CRM marketing)!
