Any business relies upon keeping 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. That’s why customer retention is such a huge challenge, and why investing in the latest ERP software is a smart business move.
ERP and CRM – The Basics
First, a couple of quick definitions are useful. ERP (Enterprise Resource Planning) involves using specialist software to track operations across a business environment, and to plan for production, marketing and sales in one seamless chain. It’s major strength is the ability to drill down into customer experiences and sales patterns, giving firms a detailed handle on how their business is performing. CRM (Customer Relationship Management) software focuses solely upon how to fine tune relationships with customers, keeping track of things like the number of complaints, managing customer feedback and allowing firms to automate sales and marketing strategies as much as possible.
Using ERP Packages To Ensure Optimal Customer Retention
Both of these technologies can be used to optimise customer retention. Using ERP, businesses can learn as much as they can about their customers. What kind of purchases have they made in the past? Have they made a complaint before? Have they made any special requests? Using this information, firms can interact with customers as individuals, helping to create a fertile business relationship. When you know more about what customers are buying, it is also possible to create tailored marketing campaigns. ERP allows firms to divide customers into segments based upon 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 All Of The Information They Need To Support Customers
With ERP and CRM software installed, firms can also 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 feed back in the form of increased profits.When firms are concerned about customer retention, ERP and CRM software might be the difference between growing a core of loyal customers and losing those that they have. Investing in these systems is an increasingly smart move which is becoming hard to ignore.