Customer retention is imperative for the long-term success of any business. Successful companies attract new customers and encourage brand loyalty to keep them coming back again. There are many ways that businesses can improve customer retention through better customer relationships, an enhanced customer experience and by having access to the right tools, including CRM client portals.
What Is A CRM Client Portal?
Customer relationship management (CRM) is a type of technology used to manage a company’s interactions and relationships with existing and potential customers. The primary goal of a CRM is simple; this key management tool aims to help the company grow and thrive by improving business relationships. CRM systems can help companies remain connected to their customers, while also streamlining their internal processes and improving profitability.
Quality CRM solutions help businesses remain focused on the company’s relationships with customers, colleagues and suppliers. These systems follow the process throughout the customer lifecycle, starting from finding new customers to completing their first purchase and finally becoming a repeat customer. CRM systems enable businesses to easily manage all external actions which can help drive success.
Providing customers with a way to locate essential information by themselves is an important part of the overall customer experience. In fact, a State of Customer Service report by Microsoft found that 90 percent of respondents expect businesses to offer an online portal for self-service. CRM client portals can help businesses meet this demand by giving customers the tools they need to solve issues on their own. CRM client portals can be advantageous to both businesses and their customers.
Ways To Boost Customer Retention With A CRM Client Portal
Businesses that currently do not have a CRM client portal or are not using the portal efficiently should consider changing their approach. CRM client portals can help boost customer retention in a number of ways, such as the following:
1. Personalize Communications With Customers
Personalization can go a long way towards engaging customers and keeping them interested in the product or service being sold. Over the course of a relationship with a customer, it is normal to have collected considerable information.
Integrating this valuable data into a CRM can help businesses personalize this online experience and help customers feel special. Also consider adding customer activity collected from analytics tools, such as the search or order history of past customers.
This data can help businesses better understand their customers’ buying behaviors and preferences. Leverage this information when writing emails or other communications to customers for a more personalized experience.
2. Identify High Value Customers
Businesses have the responsibility of providing a high level of quality service to all customers and prospects. However, extra attention should be given to high value customers; these are individuals who have been deemed frequent buyers and who also advocate for the brand.
With CRM, sales teams can develop a profile for both existing and potential customers. This allows businesses to learn more about their target audience and what they are looking for in terms of products and services. Maintaining regular contact with high value customers is more likely to increase the probability of future sales.
3. Create A Central Hub Of Information
CRM client portals can provide customers with a centralized location for personalized data. When businesses take the time to develop a client portal, customers have the opportunity to get the information they are looking for quickly and without having to engage with a live customer service rep. CRM client portals allow for automation in the workplace and deliver greater transparency which can make customers feel more trustworthy of the company.
4. Develop A System For Customer Complaints
Every business encounters the occasional complaint but it is how these companies address those complaints that dictates their long-term success. Ideally, businesses should have a system in place to accurately track customer complaints and transfer them to the correct people in order for them to be approached with a human touch.
This system should be highly accessible and aim to resolve issues as quickly as possible. Developing a system for customer complaints is an excellent way to achieve improvements in customer service.
5. Continuously Monitor Customer Interactions
It is a common occurrence for customers to visit a website or to make a purchase and not return. This can happen for a wide range of reasons, such as forgetting that the brand exists or a bad customer service experience. Businesses can help improve these customer relationships and encourage customers to return with help from CRM.
When a client does not visit the website or make a purchase for a certain amount of time, the business is at a high risk of losing the customer. CRM can help these companies closely monitor all customer interactions with the website or certain products and use this information to prompt a return. Sales reps may extend great offers or send personalized emails that are highly targeted and timely.
6. Keep Response Times To A Minimum
Small businesses often struggle to respond to customer queries fast enough due to a lack of manpower. Ensuring that customer questions and complaints are addressed as quickly as possible can significantly improve customer retention.
CRM technology can be used to effectively capture claims through emails, phone calls, websites and client self-service portals. Customer service reps can then step in to address these queries and ultimately strengthen the relationship with the customer or potential customer.
7. Connect With Inactive Customers
Customers that fail to interact with a business website or make a purchase for an extended period of time are generally known as inactive customers. Some businesses make the mistake of overlooking inactive customers in favor of customers that are interested in the product or service now. However, this can lead to a loss of revenue.
It is possible to connect with inactive customers and encourage them to return. Connecting the CRM with a marketing automation tool or innovative email platform can help businesses reach out to inactive customers with news updates or special offers that may draw them back.
8. Always Keep Customers Informed
While many customers take the extra steps to complain when they are unsatisfied with a product or service, the greater majority stay silent. Instead, many of these customers will choose to simply switch brands or engage in negative word of mouth about the particular business.
Keeping customers updated about changes and informed about information that may be relevant to them can help keep complaints at bay. CRM mobile applications can be useful for delivering essential information in real time and to any internet-enabled device, such as desktops, laptops, tablets and smartphones.
9. Build Solid Relationships With Customers
Building relationships with customers can be difficult but the effort is often worth the reward. According to a survey by the Concerto Marketing Group, customers who trust a brand are 83 percent more likely to recommend the business to others. In addition, 82 percent of customers will continue to use the brand on a regular basis.
There are many ways for businesses to build solid relationships with their customers, such as by delivering top-notch customer service, providing consistent service and through transparency. This means being upfront about pricing and not hiding details that could negatively influence customers.
10. Offer A Competitive Advantage
Businesses often struggle to provide customers with products or services that are truly unique and not being offered by competitors. However, offering customers something that competitors do not have can ultimately win over consumers. Be creative when offering discounts, sales or other opportunities that are beneficial to both customers and the bottom line of the business.
11. Make It Easy To Share Documents
One of the best advantages of CRM client portals is that they allow customers to easily share and store documents. Client portals differ from other forms of file sharing, such as email, due to the high or unlimited storage limits. These portals also offer other key benefits, such as increased security and more flexibility when it comes to storage options. Many customers also favor the self-service features that help them quickly and easily access data and documents themselves.
12. Create Subscription Payments And Invoices
Payments are a common cause of complaints for businesses that charge customers subscription payments or invoices. Creating a CRM client portal can help eliminate many of these issues by providing clients with a means of accessing this information at any time.
Client portals are often integrated with various subscription payment and invoice services that make it easy for businesses to set up notifications and reminders about payments. This saves businesses time as employees are not tasked with using a separate service for billing. It also allows customers to keep track of their transaction history and past orders.
Speak With A Custom Software Development Company
In today’s highly competitive market, businesses must take the initiative to make themselves stand out from the competition. One way to achieve this is by improving customer retention through innovative technologies, including CRM client portals. CRM client portals help deliver a personalized experience using data collected by a business over time. Customers can enjoy a more pleasant buying experience and companies can form healthy relationships with consumers while generating a profit.
Creating a CRM client portal requires the assistance of an experienced custom software development company. The team at Orases is highly qualified to help companies of all sizes develop a CRM client portal that meets their unique requirements and budget. To learn more about how to improve customer retention with a CRM client portal or to speak with a qualified custom software developer, schedule a consultation with Orases today.