{"id":13546,"date":"2018-08-20T07:18:56","date_gmt":"2018-08-20T07:18:56","guid":{"rendered":"https:\/\/www.targetintegration.com\/?p=13546"},"modified":"2018-08-20T07:18:56","modified_gmt":"2018-08-20T07:18:56","slug":"how-to-grow-profits-by-retaining-your-existing-customers","status":"publish","type":"post","link":"https:\/\/targetintegration.com\/en_in\/how-to-grow-profits-by-retaining-your-existing-customers\/","title":{"rendered":"How to grow profits by retaining your existing customers?"},"content":{"rendered":"

Well, being in sales, you must realize the value of finding new ways, almost every day to increase revenues. Isn’t it always on the top of your mind?<\/span><\/p>\n

As it is about growing sales, all that numerous salespeople are concerned about is to gain new customers & clients, so much so that they often fail to even effectively address the requirement to retain the ones who are already on board. <\/span><\/p>\n

Quite strangely, we are often told that it is cheaper to keep the existing customers instead of acquiring new ones. Thus, many come to think it is better to get new customers. However, that one thing that must be timely realized it is to address the need to retain the ones the firm has already.<\/span><\/p>\n

Why is it crucial to care about existing customers?<\/b><\/h3>\n

According to <\/span><\/i>Gartner<\/span><\/i><\/a> Group statistics, “80% of your company’s future revenue will come from just 20% of your existing customers.”<\/span><\/i><\/p>\n

Well, every business ultimately requires new customers, but you must remember that the easiest, in fact, the most predictable source of new revenue is \u2018what you have been ignoring since long’. It comes from your existing customers, who don’t just know your company but have already bought from you. This group can help your business attain better conversion rates, increase profits, with low cost spent on marketing.<\/span><\/p>\n

How can you increase customer retention with CRM?<\/b><\/h3>\n

The key lies in just this one word: “Relationship”.<\/span><\/p>\n

Nothing helps in knowing your customer better than <\/span>CRM<\/b><\/a> \u2013 it allows you to know who they are, how they been marketed to & how they responded. If things keep going well, you can continue selling to them and that’s when the fruitful relationship really begins.<\/span><\/p>\n

CRM software offers the right tools that are helpful in managing the activities around customer engagement. So, let’s find how CRM can help in this work.<\/span><\/p>\n

Tips to increase customer retention with CRM:<\/b><\/h3>\n

We all know that all we need is a good customer database in order to provide the foundation to create long-term customer partnerships. So, here let’s explore the 5 ways to do so:<\/span><\/p>\n