Managing Relationships

Relationships are important. Healthy relationships are as much a part of well-being as a cardiovascular workout. There is much compelling, scientific evidence that supports how strong relationships lead to a long, healthy and happy life. The health risks of being alone, or isolated, in life are comparable to the same risks as smoking cigarettes, having high blood pressure or battling obesity!

Relationships in your business are just as important and critical for growth. The most important relationship is that which you have with your customer. So, let’s talk about customer relationship management, or CRM. You may have heard the term before in your business dealings, but what does it really mean? Basically, it’s all of the activities, strategies and tech that you are using to manage interactions with both potential and current customers. Customers are not only how you make a profit, but their interactions with your brand are vitally important to your brand’s value.

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CRM helps your biz build a relationship with your customers. As a result, your customers are going to be more loyal and invested in your brand. You can use it in so many ways and it’s very easy to flex some creativity here, especially by tailoring the outreach to your specific audience. Everything from websites, social media and email to phone calls, snail mail and a plethora of other marketing materials all fall under the CRM umbrella. Also, the software will log your touchpoints with prospective customers so that you can track where you are going right (or going wrong).

Imagine being able to have a perfect record of conversations, purchases and marketing material distribution with your customers. This information is only going to help your business become more successful and provide a better service. You’ll be able to better anticipate an individual’s needs and as a result, they will feel more fulfilled. This is the sweet spot, when a brand becomes as familiar as a family member – it may sounds creepy, but there is such a thing as this brand loyalty. I bet that you know someone who only drinks Pepsi and would never touch a Coke, or vice versa. See what I mean?

CRM also allows you to automate some aspects of the business so that customers know that you have received their inquiry. I recently visited Salesforce in Sydney, Australia. Their exec threw out a stat that most sales will be lost if the business takes more than two hours to respond to an inquiry. Two hours! Customers are becoming more savvy and they know their options, if they don’t find the information, or product that they are seeking then they are apt to move on.

For a more in-depth look into CRM, Salesforce put together this great video. Take a look and leave me a comment below if you have any questions.

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