Is Customer Acquisition more expensive than Customer Retention?

Did you know that customer acquisition can quickly become very expensive when marketing and sales expenses are taken into account? A customer relationship management (CRM) system can help you improve your productivity and create a better relationship with your clients and customers for a more budget-friendly cost. Read on for our top 4 ways to use CRM to improve your customer acquisition.

Define your target audience

Surprisingly, many people get their target audience wrong because they’re struggling to make sense of the data collected by their sales team. Don't worry, a CRM can help! Not only does it recognise trends in your demographic data, but it allows you to identify what marketing approaches need to be adjusted to accommodate your new target audience.

Use CRM to customise your sales messages

CRM will become a go-to for your sales team if you’re looking to input and monitor customer data. Whether you’re considering tracking customer data across channels or browsing patterns on a website, CRM can help you identify the best sales strategies. Whether you decide to customise your sales messages by writing your customers' names or giving them personalised recommendations, they will automatically feel more special.

Develop a stronger relationship with your customers

What customer doesn’t want to feel special or want to have a positive experience with a business? Even if your services or products aren’t revolutionary, this could be the main way you set yourself apart from your competitors. The majority of customers (90%) have said they’re willing to pay more for a high-quality customer experience, and a CRM will provide you with all the information you need to achieve this by tracking every touchpoint.

Go from acquisition to retention

Acquisition is important in sales and CRM can also help make sure your customers return for more. We all know that having loyal customers is easier than trying to bring in new customers, so for this reason, you should use CRM to recognise potential customer dissatisfaction and identify patterns in their purchases to offer product recommendations. Don’t hesitate to get in touch with our team here at Mark 2 Creative for all your CRM needs.