Whenever there is news of a major data breach or cyber attack, attention turns to individuals and what we can all do to keep our information safe. We may think that our accounts are secure because they are password protected, but are we really doing all we can to protect our data? Recent studies show that we don't always make the best choices when it comes to protecting our accounts and using secure passwords.
In an episode of Jimmy Kimmel Live last year, a reporter took to the streets of New York to show how easy it is to get someone's password. They didn't just stand over unsuspecting customer's shoulders at a coffee shop and sneak a peek at the keyboard as they typed in their information. They took a much easier approach. They just asked. It is surprising to watch this video and see the show correspondent pull aside random people and ask for their passwords. The people respond by giving general information at first. As they are probed a little further, they start to reveal more details. Eventually, they reveal their complete passwords or details that make it easy to determine what their passwords are. Asking detailed questions to trick people into giving out information that can be used to determine passwords for hacking is also a form of social engineering. It is a technique often used by hackers to obtain information.
Customer relationship management (CRM) plays an important role in a business's success. Businesses that neglect their customers may struggle to stay afloat in today's highly competitive marketplace. So today we're going to examine some all-too-common CRM mistakes made by businesses.
Not Using CRM Software
Why should you use CRM software? Simply put, it's essential when handling large volumes of customer data. As your business grows, you may struggle to find information that will save you time on your target customer. Even searching for new business will be impossible without have a CRM to stay organized. Thankfully, the right CRM software can take this burden off your shoulders.
Not Addressing Customers by Name
Addressing customers by "madam" or "sir" isn't an effective way to build lasting, positive relationships. Rather, you should address customers by their name. You should including in your list, what is your customer nickname, or pronunciation that enables you to personal all your communication. According to a 2013 study cited by MarketingLand, personalized emails generate six times more conversions, yet only 30% of businesses use them.
Not Following Up with Inactive Customers
When a customer remains inactive for several months or longer, try following up with him or her. Whether it's email, direct mail or even a phone call, follow-ups such as this can turn dormant customers into active customers.
If you own Act v16 or v17, your opportunity to save 31% on the Act! Subscription fees will end on September 30th. If this seem sudden, it isn’t.
When Swiftpage transitioned to a subscription based payment system on May 5th, 2015, they knew many customers would need time & motivation to adjust, so they offered a 16-month transitional period wherein eligible customers could migrate customers over to this new subscription model at what they described as “loyalty” pricing. These savings ranged from 24-31%, and were offered to loyal customers in recognition of their recent investment in Act!
Well, that 16-month window is about to close, and those that miss out could be losing one of the best savings opportunity Swiftpage has ever offered, because it’s a sale that repeats itself every year. In other words, those signing up at Loyalty pricing will lock in those savings for as long as they stay subscribed to Act!.
Acquiring new customers is expensive, I know you have heard someone say this.
According to Bain & Company, it costs businesses about 6-7 times more to acquire a new customer than to keep an existing one. It is a lot more expensive than retaining your current customers and finding ways to keep them happy.
Customer loyalty and retention drive referrals and inevitably, revenue. Customer retention takes time to bear fruit and it is certainly worth investing your time and effort into it.
Here are three ways a CRM can help you increase customer retention:
1) Understand customer needs and preferences
A CRM is not just a place to put your customers’ contact information. It can tell you a lot about a customer’s behavior, preferences, buying patterns, and their history with your company. By having this type of data right at your fingertips, you can better understand your customers.
There are plenty of aspects that keep a company thriving. From being sure your business is making enough profit, to ensuring that you're familiar with the audience you want to market your products to, these are only a few things that lead to a successful business. Most important of all, though, it's essential you have a good relationship with your customers. Whether you're aiming to ensure they can trust you, or are trying to advertise your business as one that's worth a look, customers are the heart of any company, and they can either make or break a business.