Harnessing the power of CRM to digitally connect with customers: Sachin Karweer

In the age of the social customer, there is a fundamental shift in the way the customer communicates with each other and brands today. And it is the social customer that rules this ecosystem.

This customer is street and net savvy and does not take the bait of traditional advertising anymore. He browses crowd-sourced social networks to learn all he can about new products, services and brands. He trusts his online friends more than a celebrity enticing him with rehearsed and recycled dialogues. This entity is so powerful; it has the ability to shake up the ranks of even the biggest brands. Creating PR nightmares and changing social sentiments of a brand online is only the tip of the iceberg that the social customer is capable of.

So, how does a brand navigate these fairly new waters? The social side of a business is only going to get more significant in the coming days than ever before and businesses have to keep up with all the tools in their arsenal. In this case, a brand’s most important tool is CRM, and it works like a charm because social media is the fundamental playground of the social customer. Before we explore the impact of CRM and how it can build trust with your customers, let us first understand how to get the most out of your CRM to drive revenue and sales.

Maximise the Value of Customer Experience with CRM

CRM requires that businesses learn new ways to adjust as well as ‘listen’ to their customers, creating tailor-made communication and generating a genuinely personalized experience for them, thereby maximising profits. Businesses cannot afford to overlook or disregard the voice of the customer anymore. In fact, the customer is the focal point - the one who is entitled and empowered. It is all about the customer experience.

According to an IBM surveyed research, nearly 80% of the online consumers surveyed have at least 1 account on a social networking site where they can quickly and easily connect with people. Almost 70% of business executives say that their companies will be perceived as "out of touch" if they don't engage, and over half believe their competition is successfully reaching customers through social media. 79% claim a profile or presence on a social networking site. These statistics show that there is immense and fierce pressure to be present and active on social media, as well as other relevant channels such as calls, email, and chat that can be leveraged on digital platforms as service touch points.

If businesses wish to create sustaining experiences with their customers, they need to build a lasting and memorable impact on their customers, who in turn can share it with millions online and influence them. This can actually colour a brand’s public perception, making it all the more necessary for businesses to implement CRM to facilitate this.

Let’s take a look at Amazon, the world’s largest online retailer. Jeff Bezos founded Amazon to optimize the consumer experience on the Internet. It’s no secret that Amazon deploys a world-class running CRM strategy that has allowed the brand to stay on top of the e-commerce game globally over the past 20 years. This has enabled the brand to grow exponentially, with Amazon introducing new features and services at a rapid pace. Amazon continues to capture and smartly utilize customer data cleverly with the help of automation to offer prime customer service to their users.

Building Customer Trust and Loyalty with CRM

Gaining the trust and loyalty of a customer clearly has its benefits and is a target worth pursuing. CRM enables this crucial step as it allows businesses to listen, understand, respond and engage with customers intelligently. This creates customers that not only respond to your approach but who will share and increase their loyalty to your brand, extending your reach to a wider range of potential customers.

Get the analytical advantage and understand who your customer is and what they want

CRM allows a business to handle their customers responsibly and efficiently. Create intelligent profiles that carry crucial customer information across multiple channels and departments. Record important information about your customer that is always accessible for future interactions. Data is collected into one unified system that allows you to analyse and anticipate their needs based on pain points, issues and provide assistance and recommendations by taking a look at a profile's account history.

Wow your customer by personalizing experiences for them

With CRM, you have the tools and concrete data that can reveal the mindset of your customers. Tailor their journey and create opportunities and personalized experiences that effortlessly connect them to transactions. Use collected data to analyse their purchasing patterns and build cross-sell and up-sell prospects. This data is also a treasure trove for marketers to shape campaigns and communication across channels.

Interaction and engagement is key to create personal relationships and winning brand loyalty

When a brand creates content, it is the starting point from which a customer can get to know a brand’s character and personality. Don’t be shy at this point, as people won’t trust a guarded brand. Flaunt your brand’s persona and don’t be afraid to engage and interact with your customers with a personalized tone. CRM enables this unique relationship as it captures omnichannel conversations over time that allows you to tailor the customer experience, improving brand perception.

Conclusion

CRM is not just a strategy, it can also be considered as a philosophy in today’s business landscape, where everyone from entrepreneurs to giant brands occupies the playing field. When you see the benefits of CRM, it makes good sense to implement it in your digital strategy and reinvent customer relationships - to wrap up; it’s the next frontier in customer relationship management. For those brands looking to optimise the power of digital media and get close to their customers, CRM is the right path!

(The author is the Business Head of HGS Interactive)

Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com