It’s easy to say customers are our most important asset but turning a customer relationship management (CRM) strategy into bottom-line results is hard work. It means winning the battle for customers’ hearts and minds every day, with each interaction at every customer touch point. Long-standing relationships only arise from trust gained over many transactions and by customers’ belief that the company wishes to keep them around rather than drive them away.

Customer relationships are a company’s most valuable asset, worth more than everything else combined because no customers equals no business. Getting and keeping more customers who stay with you longer is crucial. If your customers are loyal to your business, they will be much more likely to choose you over your competitors. Loyal customers spend more and bring in even more new customers. Loyalty is immensely valuable. Research has shown that a 5% increase in customer retention rates results in a 25% to 95% increase in profits.

Creating a customer-focused company starts with the definition of a CRM strategy, which may include new work processes, organizational changes, and even a revamped corporate culture.

Here are 7 Keys to Establishing a CRM Strategy that will Help Create Customer Loyalty Continue reading →