Customer Relationship Management

Written by BK Shaw
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One basic rule of marketing is that the biggest source of business exists in our client base. In many companies, the existing client base is an untapped resource. After observing many different sales forces, it's hard to understand the reason why. The old adage about working smarter not harder should apply. What could be smarter than asking an existing satisfied client for a referral?

Many companies sell products that existing clients can continue to purchase. Maybe it is a product that is bought once every five years like a car or maybe it's a product that's ordered every week like movies. So why does a company not stay in touch with its existing customers? Maybe the focus of the company is so directed towards generating new business that it forgets to look in its own front yard!

Automation allows for cheap ways to stay in touch with customers. Not only is it cheap to keep in touch, it's also effective. A company can send newsletters and inform clients of new developments or products. The newsletter can be e-mailed with virtually no expense incurred. The client can read a newsletter without taking time out of his or her day to take a meeting or telephone call from a vendor.

Educating the Client Base

Clients who get involved with the product buy more than the client who doesn't really understand the benefits. A client who does really understand the benefits and who is kept up to date with new advancements or perhaps special prices is much more likely to buy again, or better still, to refer a friend. Managing customer relationships is important for companies wanting to provide great customer service, and when it can be good for the bottom line, one would think every company would make it a priority.

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