Any business relies on being able to retain a core of loyal customers who continually come back to purchase their goods and services. Without a solid core, firms rely on the ebbs and flows of the market, leaving them exposed when times are hard.
Customer retention is a huge challenge. However, by investing in the latest ERP software, your business will be making a smart move.
ERP and CRM - The Basics
ERP (Enterprise Resource Planning)
This involves using specialist software to track operations across a business environment. It allows you to plan for production, marketing and sales in one seamless chain.
Its major strength is its ability to drill down into customer experiences and sales patterns. This gives you a detailed handle on how your business is performing.
CRM (Customer Relationship Management)
CRM software focuses solely on how to fine-tune relationships with customers. You can keep track of measures such as complaint numbers whilst managing customer feedback. It allows you to automate sales and marketing strategies as much as possible.
Using ERP Packages To Retain Customers
Both of these technologies can be used to retain customers.
Using ERP, you can learn more about your customers. What kinds of purchases have they made in the past? Have they made a complaint before? Have they made any special requests?
Using this information, you can interact with customers as individuals, helping you to create a fertile business relationship. When you know more about what your customers are buying, it's also possible to create tailored marketing campaigns.
ERP allows you to divide customers into segments based on their purchase history. This means that you can reach out to them specifically, rather than using generic marketing materials which might alienate customers.
Provide Employees With The Information They Need To Support Customers
With ERP and CRM software installed, you can quickly tell which customers are most likely to make late payments, and which customers make the most purchases.
It's easy to target those customers who are most likely to pay on time and make a purchase, and to make less reliable customers a slightly lower priority. This helps to make resource use as efficient as possible.
Customer retention is also about building a strong support system for when things go wrong. ERP and CRM software can help to create responsive, effective customer support services that will provide useful information when clients make enquiries. Employees can access the client's purchase history at a glance, and they can also provide accurate information about issues like supply times.
This kind of customer-focused system will retain loyal clients and help to create a solid brand identity, which should rapidly feedback in the form of increased profits.
If you're concerned about customer retention, ERP and CRM software might be the difference between growing a core of loyal customers and losing those you have. Contact us today to find out more about how ERP and CRM systems can help you retain customers.