CRM PROCESS, Key Steps, CRM CYCLE,
CRM-customer…The goal is to improve customer service relationships and assist in customer retention and drive sales growth.
What is the CRM process? 5 key steps
The CRM process is a strategy for keeping every customer interaction personalised and meaningful that consists of five main steps.
Consumers today expect a personalised customer experience catering to them as individuals. In order to meet these expectations, there is need to understand what audience wants and needs, and understand how to deliver on these requirements better than competitiors.
The CRM cycle involves marketing, customer service and sales activities. It starts with outreach and customer acquisition and ideally leads to customer loyalty.
There are five key stages in the CRM cycle:
1. Reaching a potential customer
2. Customer acquisition
3. Conversion
4. Customer retention
5. Customer loyalty
According to the customer life cycle, we know that the first step in the CRM process is maximising reach with leads. In practice, reach is using your CRM to generate brand awareness via targeted marketing campaigns.
Every stage in the customer life cycle corresponds to an actionable step in the CRM process. The key is knowing what those steps are and how to execute them.