It is a known fact that every small business should have a CRM (Customer Relationship Management) software in place. Why? Customers are your main reason for doing business. You create a product/service for them, they buy from you, and you use the revenue to reinvest into your business to sell more. It’s a simple sales cycle. But it’s a cycle that needs to be taken care of and groomed.
The challenges arrise when you have to start managing your customers – even if only a handful. If they aren’t satisfied, they won’t buy. In addition, a good number of them will also spread negative reviews about you to other potential customers. Seeing as 80% of your future revenue will come from existing customers (Gartner Group), paying special attention to Customer Satisfaction and, thereby, retention is crucial to not only staying in business, but also growing. According to Bain and Co., a 5% increase in customer retention can increase a company’s profitability by an average of 75%. So what’s the conclusion? Winning customer loyalty could mean the difference in being successful or not! Continue reading Mobile CRM is the New Black!