Resources » CRM Concepts » Customer Loyalty
In most cases the best customers are the ones who come back to your business over and over and keep doing so over a number of years. That is, they are not necessarily the ones who make the largest purchases.
Loyal customers such as this help you to develop robust marketing plans and do not require higher marketing costs to get new customers. It is generally reckoned that the cost of acquiring a new customer is 6-7 times the cost of retaining an existing one. And who says that one new customer will keep coming back?
There are many facts about the cost of customer acquisition though, one article we read recently put this cost difference at 20 times greater!
But the one that we thought was a really cool stat was that a two percent increase in customer retention equates to a ten percent decrease in costs.
And as we all know, reduced costs increase company profitability.
The key question then is: ‘how to increase customer loyalty?’
Of course, personal contact with the customer, and on a regular basis, plays a major role. Not just in fostering good relations but also in finding out what you are doing well, what you are not doing so well, pricing needs, product improvement areas and so on.
To better gather and understand customer feedback, which has to be convenient for the customer of course, you may want to conduct customer satisfaction surveys, and that’s just where Zoho Survey can help!
Zoho Survey is an affordable small business survey solution that allows you to manage unlimited surveys to find out (amongst other things) the needs and wants of your customers and then provides meaningful analysis reports on the findings. This is very useful when considering doing future marketing campaigns, service improvement initiatives or product development.
The paid versions (Standard and Premium licenses) offer unlimited surveys and questions, custom survey design, custom branding, question and page logic, offline surveys, share surveys and advanced reporting.
Full details of the features can be seen on our Zoho Survey product page but some of the more advanced functions in Zoho Survey that can be specifically used for promoting customer loyalty are as follows:
Offline surveys (Standard and Premium editions) - this means you can accept survey responses where internet connectivity may not be possible, then synch these responses to the survey report later on.
Multilingual surveys (Premium edition) - definitely something to consider in today’s ’small world’ and especially if you do business in multiple countries.
Integration to Google Docs integration (Premium edition) - if your business already uses Google Docs then this feature will allow you to in effect export your survey stats to a Google Spreadsheet, which can then be used for further analysis and reviews within your organisation.
Integration to Zoho Campaigns - using Zoho Campaigns you can mass distribute your survey via an email and social media campaign in order to reach more people. And, if you use Zoho CRM, which can itself be integrated to Zoho Campaigns, then you can do highly targeted send outs based on your CRM data to recipients in specific segments, business verticals or regions.
Zoho CRM integration (Premium edition) - by integrating Zoho Survey with Zoho CRM you can add fields to Zoho CRM modules which means that you can collate prospect and customer information from surveys and then consolidate that information right into your CRM.
View the Zoho Survey and Zoho CRM integration video below:
And of course, but keeping individual survey responses within your CRM software you are centralising this important information, learning what customers want and need, and hopefully then doing something about it!
Find out how Zoho Survey can benefit your business by emailing us on info at mangoho dot com or feel free to contact us here.