How to build lasting customer relationship

Posted by Alex Hall on August 3rd, 2022

What is all the hype about customer relationships? Why are they so important? Let’s understand the concept of customer retention to get a better grasp of customer relationship management.

Happy customers, happy you!

Summing it up in a one-liner, customer satisfaction leads to increased customer retention, and consequently, it leads to increased profits. A study by Bain and Company shows that just an increment of 5% in customer retention can lead to an increase of 20% to 25% in profits. The key lies in understanding the fact that the more the customer will be happy, the more products or services he will buy, and thus more revenue will pour in eventually.

Key trends in customer relationship management

The question posed is how to achieve long-lasting customer relationships. Successful companies follow a set of rules that help them retain customers and improve customer relationships. Following are some of the trends in customer relationship management that are followed by successful companies.

Personalized interactions

Communications with customers should be more than spam emails, voucher notifications, etc. It should be personalized by properly using customer relationship management tools and trend analysis of customer preferences. If you receive an email including your name and a personalized tagline, that will spark your and thus you will be more inclined to purchase from the company.

Tracking customer insights

Knowing your customer will increase the customization effect. Keeping a check on all customer preferences makes you well informed about what sort of information should be presented in front of the customers and when should it be presented.

Communicating through the right channels

Your website, mobile app, social media channels, and newsletters are all effective ways to reach out to new and existing customers. You must provide an Omni channel experience across these platforms because you never know which of these platforms your potential clients will use to contact you.

NCRI provides an Omni channel customer experience and consistent service quality across all of your online platforms. This means that customer support availability, brand materials, tone of communication, and all other brand representations are consistent in quality across all customer touchpoints.