How to Strengthen Customer Relationship with CRM Integration
In business, half the time you should be working to market your product to a new customer. The other half should be spent maintaining your existing customers. A good relationship with your customers has many benefits.
Some of the benefits you stand to gain include increased sales, better customer retention, and better marketing. Therefore, it is important to adopt a Customer Relation Management (CRM) system in your business.
CRM systems such as DevCRM from Devrev aim to help you create and sustain your relationship with your customers. Such CRM systems offer a direct channel for communication between business and their customer. The value of good communication cannot be stressed enough when it comes to business.
There are several benefits to using a CRM system to handle your customer relationships. So, the big question is how exactly do you build and strengthen relationships by integrating a CRM system? The possible ways you should use include:
1. Creating Personalized Experiences
When you run a big business with millions of customers, it is impossible to know every one of them. However, you have to know each customer well enough to provide a unique experience. How exactly do you achieve this?
Most companies collect data from their users whenever they have an interaction. The most common interaction is signing up for services. The data collected includes the name, contact details such as email addresses, and other personal details. The same is done by using CRMs, to prompt users to sign up on your websites.
You can use personal details to create profiles and group the data you collect from your customers. Over time you will have enough information. With the help of Artificial Intelligence, you can sort through data faster and build better profiles.
You should integrate your emailing list into your CRM for easy and automated communication. The automation is useful for occasions such as birthdays and holidays. You can also use CRM for marketing campaigns. Given that you already have well-built profiles, you can use your CRM system for targeted marketing.
2. Improving Customer Experience
Your customer experience is your bridge to customer retention and new customers. The customer looks for two things when making a purchase. The customers look at the quality of the product and the price they pay for it.
The customers associate the experience they get with the quality of a product. The correlation made by a customer is both good and bad for the business. If the customer receives a good experience, they are willing to pay more for the product. However, quality products may be disregarded due to the experience customers got.
CRMs provide data storage and fast data retrieval. The data CRMs store includes purchase history, tickets, and complaints. Using a CRM will improve your response time and the quality of your customer service team.
You can incorporate chatbots into your CRM. Chatbots are software that mimics human conversations via text or speech. Chatbots offer fast scripted responses to help them navigate conversations. The fast and reliable responses will improve the customer experience.
3. User Activity Monitoring
Your business needs constant updates about your consumers and their needs. You also need feedback about your people’s behavior on your platforms. Monitoring is one of the reasons you should integrate your CRM into your website and web applications.
Your CRM system will help you collect user data and improve customer experience. The data may include what features they are constantly using, searches history, and the number of visits. With such information, you will know where to direct your focus.
The information about interactions is also used when analyzing the impact of your marketing. An increase in site visits or look-ups is an indication your marketing was successful. You should ensure that the commonly used features are in perfect condition. Your CRM can log data about crashes and unsuccessful operations on your application to help you identify the problem areas.
4. Providing Multiple Communication Channels
Good communication is necessary for a healthy and strong relationship with your customers. Today, social media platforms are the new front for interaction and gathering information. Your business should have at least one social media account on the major platforms. Multiple communication channels will help you engage with your customers and get feedback.
However, managing all your media accounts can be challenging. Most companies rely on their marketing teams for this. In other instances, your CRM dashboards can help you manage communication channels. The CRM dashboard can allow you to post social media updates directly to your linked accounts. As mentioned earlier, you can also rely on chatbots and automated reply systems.
5. Appreciating Customer Loyalty
Nobody can resist the joy positive reinforcement brings. People often want to be recognized for their actions and rewarded for the good they do. Rewarding works for both workers and customers. Your business should have a way of rewarding customers that are loyal to you.
Rewarding customers will reinforce their loyalty and increase their spending patterns. Some companies create targets for their customers to reach before they can get a reward. You can use your CRM to create, and broadcast rewards for your customers.
Some rewards include gift cards, discounts, and free item coupons. The more you offer your customers, the better your relationship gets.
6. Asking for Customer Feedback
You can improve your relationship with customers by seeking their feedback. Requesting customer feedback shows you care about the customer and their opinion. Surveys and questionnaires are the easiest way to get feedback.
When requesting feedback, use data collected by your CRM. The data includes data logs from the user activity, reports, and complaints. Following up on complaints shows that your communication channels work and you value the customer. You can inquire about what features to include and what they already like.
Every modern business needs to integrate a CRM system into their operations. The benefits of a CRM extend beyond building customer relationships. A CRM also offers better organization, consistent reports, and reliable storage.
Research the market for the best CRM system for your business. You should not focus too much on the pricing. Look at the after-sale services the company offers and their reviews. Also, look at what company provides CRM systems to your competitors. Aim to stay ahead.
The Safety Precautions an Employer Must Take to Avoid Accidents in a Construction Site
Depending on their profession or sector, all employers are bound to ensure the well-being and security of their employees. And regrettably, the sector with the most casualties every year is frequently the construction sector. Construction sites are pretty dangerous for any individual or even a worker to just walk in like that. Hundreds of employees suffer injuries on construction sites each year. It becomes crucial to take precautionary measures to prevent anyone from getting hurt suddenly.
In order to prevail safety and prevent any injury due to a construction accident, an employer must follow a few safety precautions like environmental factors, use of PPE, and so on while working. And these measures must be implemented from the beginning of a project until the mission is accomplished and the site is no longer a danger zone.
The Essential Safety Precautions an Employer Must Consider During On-Site Construction
Construction projects are well known as some of the riskiest places to work. Workforces’ well-being and security should come first at worksites, where protection is one of the contractors’ primary responsibilities. Check out the points below to learn about the safety measures employers must follow in every construction activity to prevent any mishaps from taking place.
Access restrictions should not just be implemented to safeguard equipment against damage or burglary. Safety is vital both during and after working time to protect pedestrians from possible construction pitfalls. This measure includes keeping an eye on things or granting access to visitors. In case of a security violation or unauthorized access, stringent privacy and safety methods will help shield employers from obligation and breach of duty.
First Aid Kits
It is of utmost importance for every construction site to have a ready supply of first aid kits accessible immediately in time of need. The personnel responsible for providing first aid should ideally be on duty throughout business hours. To guarantee that help is always available when needed, the number of kits and officials should match the building site’s size and the project’s scope.
Personal Protective Equipment
Also known as PPE, these consist of various safety devices that a worker must wear while working on a construction site, namely safety boots, gloves, helmets for head protection, etc. There can be the occurrence of unforeseen incidents at the construction site, like any harmful gas leakage, a major machinery breakdown, or a fire outbreak. So, in order to maintain everyone’s safety on the site, an employer has to provide such equipment to the workers or laborers.
On a worksite, each sign needs to be easily seen. Contract management officials should post alerts, safety, and warning signs wherever required to increase awareness and draw attention to crucial hazards for staff and passersby. For everybody’s security and well-being, this safety advice is essential. It is necessary to have distinct exit and entry points, and their proper use must be put in place to ensure a secure working atmosphere.
Severe weather patterns can pose significant safety risks. If you encounter any natural calamities, extreme weather, or other emergencies, your on-site emergency strategy should explicitly outline how employees should cease to operate.
Construction crews face more prevalent and severe threats than other sector employees during the task at hand. Construction sites are full of hazardous equipment, situations, dangers, and substances that, if not watched over carefully, can result in serious to fatal injuries. Workplaces can successfully reduce the risk of injury or worse by using secure equipment, chemical products, toolkits, and other precautions.
Facilities you can enjoy under Bank Savings Accounts
Savings Accounts are provided by public and private sector banks today. You can use them to park and grow your savings gradually. You should open one the moment you start earning if you already do not have one. While some organisations offer you an account to deposit the salary called Salary Account, you should also consider Savings Accounts through which you can avail a host of facilities.
Here are some of the most generic facilities banks offer under a Savings Account:
Conduct daily transactions
The most basic feature is that the account enables you to conduct different daily transactions. There is no upper cap on the amount you can deposit in this account. You can deposit funds through cash, cheques, or online transactions. However, banks have a daily withdrawal limit on such accounts. Typically, the withdrawal limits are higher when you withdraw money from your bank branch than from ATMs.
Comes with ATM or Debit Cards
Every Indian bank offers a Debit or ATM Card when you open Savings Account. This card features your name, along with a 16-digit number, the expiry or validity date on the front and a CVV number with a signature strip on the back. You can use it to withdraw money from any ATM vestibule. However, you also need to check the number of ATM transactions you can make from home or other banks.
Besides withdrawing cash at ATMs, you can use the card for shopping at retail stores and online websites. You can also use them to pay utility bills online.
Avail of Online Banking facilities
The best part about opening accounts online is you can access other Online Banking mediums. You can check them over the bank website or the Banking app and do transactions. The bank offers a default login and Online Banking password that you should change before you start transacting. You can use the account to transfer funds to other accounts through IMPS, NEFT and RTGS.
You can also pay utility bills, house rent, Loan EMIs, and other monthly expenses, directly through such accounts.
Earn better interest rates
All banks offer decent Savings Account interest rates. These are generally considered as a bonus for your loyalty towards the bank. While most banks offer a flat interest rate on the savings parked, a few offer higher interest rates to those who have maintained a higher balance or opened an account online. The amount maintained should be Rs. 1 lakh always.
The interest rates offered are between 4% to 7% depending on the bank and the savings parked. Also, the interest pay-out happens on a half-yearly or annual basis.
While opening the Savings Account with a bank, also ask about different accounts you can open. Nowadays, banks offer Savings Accounts catering to different genders and age groups.
3 Common Mistakes To Avoid While Selling Your Business Online
Having set up your enterprise by putting in the time, sweat, and capital it requires, you may now be considering selling it. The eCommerce boom of recent years, and the positive outlook for the future, have created a suitable environment for you to sell your business online for handsome rewards.
Selling your business online requires patience and careful consideration of various factors. Skipping the sequence of steps, impatience or anxiety-driven decisions, and oversight can be hazardous and reduce your potential proceeds from the sale. If you’re contemplating “how to sell my business online seamlessly and for maximum profits” then here are the common pitfalls you need to avoid.
Not knowing the true value of your online business
Undervaluing your online business for sale is one of the most common concerns that go through an entrepreneur’s mind. This has a direct correlation with the returns you will earn from the sale and selling it for lesser than its true value is bound to lead to a seller’s remorse later on. An equally perilous situation is overvaluing your business.
This happens more often than you may realize. As the creator of your own enterprise, it is easy to be swayed by emotions and ignores hard facts and figures while sell my business online. Overvaluation can lead to a lowered interest from potential buyers and even deter many from approaching you for further discussions. Moreover, combined with rigidity on price, it can also lead to long stalemates during the negotiation phase.
How to avoid this mistake – Sellers are recommended to get a formal business valuation done by professionals to establish the fair market value of your enterprise based on their industry experience. If doing it yourself, derive the worth of your business by carefully studying your past and present financial statements, understanding your operational performance, and evaluating your future growth prospects.
Not developing an exit plan
Before you sell my business online, you must already have an exit strategy in place. This exit plan is not created arbitrarily but is an offshoot of various factors such as your personal/professional objectives post the sale, your future aspirations (whether you wish to return to the segment or not), and the people relying on you (like employees, suppliers, etc.).
A carefully considered exit plan ensures there are no loose ends, and when you finally transfer the ownership all legal, contractual, financial, regulatory, and human obligations are catered to. But a plan is only fruitful if it is adhered to diligently. There may come several situations during the course of selling your business online, when you may be tempted to forego the plan and play it by ear. Resist that urge, and stick to the plan that has been holistically designed after putting in a lot of thought.
How to avoid this mistake – Make a draft of all the key affected aspects during the transfer of ownership. Notable ones include technical infrastructure, intellectual property rights, employee retention or rebadging, the continuation of supplier contracts, lease agreements, etc. Your exit plan should have a clear path for each of the identified factors and a mitigation plan for the associated risks.
Overconfidence and ‘going it alone’
If you have decided to sell my business online, then you must know the large amount of paperwork that you will need to deal with. Whether you’re selling for the first time or seasoned in the process, the undertaking will consume a massive portion of your time and effort. There are also several hurdles that you may encounter along the way, all of which will take your mind away from your core business. It is important to recognize this from the beginning and plan for it.
Right from preparing your business for sale to the conclusion of the negotiations phase, you will encounter various facets that require business, financial, legal, and contractual acumen. While you may be accomplished at wearing multiple hats, taking over all the specialist roles can be a recipe for disaster. Not only can it overwhelm you, but it can also lead to short selling or stagnating the sale, neither of which is a desirable outcome.
How to avoid this mistake – Employing the services of a broker or a team of domain experts can significantly reduce the load on your shoulders while ensuring you receive the fair-market price for your business and are paid on time. Yes, there may be a fee or brokerage involved in availing these services, but the overall benefit is likely to outweigh the cost. Do your own cost-benefit analysis before deciding.
You can also opt to sell my business online to an acquiring firm that will conduct a thorough evaluation of your business, establish its market value, and take it over in a seamless manner. Not only do you get the price you deserve, you also save on a lot of overheads associated with selling my business online and avoid the stress involved in the process.
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