Customer Relationship Management is a challenge today because is must be consistent accross a whole company, at each potential interaction point with the customer.
But let’s start with some datas to set the scene.
Loyal customers are more profitable!
- About 20 percent of your customers produce 80 percent of your sales. So you’d better take care of those 20%!
- On average, loyal customers are worth up to 10 times as much as their first purchase. (Source: White House Office of Consumer Affairs) – So you’d really better take care of those 20%!
- A 10% increase in customer satisfaction score results in a 12% increase in trust from customers (Source: Institute of Customer Service) and can increase profits between 25% and 55%.
- It is 6-7 times more expensive to acquire a new customer than it is to keep a current one. Source: White House Office of Consumer Affairs
- It is 12 times more expensive to go after a customer you’ve lost than to build loyalty with an existing customer.
The power of sharing and frustration…
- 1 customer who is very satisfied will talk about it to 3 contacts.
- 1 dissatisfied customer will tell 12 contacts. A survey from the Harvard Business Review reveals that 48% of people who had negative experiences told 10+ people about it.
- 1 extremely dissatisfied customer can share his opinion to 20 contacts… and those numbers may be outdated because of the importance of social networks today.
- 75% of negative perceptions are not directly related to the product itself. Only the lack of consideration and attention are responsible for the negative perception.
- 66% of B2B customers stopped buying after a bad customer service interaction. (Source: Zendesk)
From a product-oriented prospective to a customer-centric prospective
The way we sell has undoubtedly changed. The reason is that not only the consumer is rational but he’s also emotional. He is a “ConsumActor”. So we, sellers and marketers, moved from a pure transactional relationship to a trust-based relationship. Then marketing tactics are not the same anymore… we can’t talk the same way to everyone, the old “one size fits all” strategy is clearly dead. It’s time for customization, for interactions with customers.
Customer Relationship Management is a multi channel experience
Customer Lifecycle/Relationship Management consists in supporting the customer every step along his decision journey, from acquisition to upsell/cross-sell to loyalty and retention.
Taking care of a B to B customer is not a one-time effort anymore. And that’s fine! It’s a long-term effort where the customer is at the center in order to gain his heart and mind. To achieve that you’ll have to make sure that all channels converge: sales strategy, processes, brand messaging and the customer experience in order to create a consistent client promise.
In this new context, Digital is a cornerstone. This is the new conversational space that allows to:
• increase the engagement with the customer
• foster experience sharing with the brand
• integrate data from social networks into CRM to enrich customer knowledge
//Main Sources for the datas:
- Help Scout | 75 Customer Service Facts, Quotes & Statistics https://www.helpscout.net/75-customer-service-facts-quotes-statistics/
- insightsquared.com | 100 customers Service Statistic You Need To Know http://www.insightsquared.com/2015/04/100-customer-service-statistics-you-need-to-know/