Veteran marketers mostly pride themselves on their connections and of the capabilities in understanding their customers.
However, on the flip-side research on this subject shows that although 76% of smart marketers claim that they are aware of their customer’s requirements, only 34% have ever asked their customers as to what their customers want.
This Perception Gap a word coined by Brian Solis and his team at Pivot is the breach between what the customers need and what the company executives think that their customer wants.
A pretty fascinating topic for discussion.
Just as making an assumption about your customers can prove to be costly, similarly, on the other hand, understanding what your customers need can enable any business to leapfrog their competitions.
If you are of the opinion that you understand your customers, can you answer these few questions to find out if your assumptions are true?
Here we go:
It is unfortunate that although many small and medium businesses may have this information in their head, this data is not tracked anywhere. Hence, this information most often remains in the minds of the product-marketing managers, sales reps, CEOs, and customer support representatives.
If you want to dive deep, here is the infographic developed by Brian Solis and Pivot based on their Perception Gap research:
The power of CRM (Customer Relationship Management) system can make or break your business. CRM offers most basic insights that can improve collaboration and revenue while decreasing the length of sales cycles in the fields of marketing and sales of a company.
It is a commonly known fact that it is always much easy to sell to a happy existing customer than to acquire a new one.
So, why so many marketers skip the most important thumb rule of sale-retaining ongoing customer relationship management?
Do you have any idea about what businesses you are leaving behind on the table for not being proactive in doing your homework about knowing the needs of your customers on a daily basis? How many relationships could you have not nurtured properly with your customers because of broken communications and unavailability of data to identify your customer’s needs that stopped you from embarking on the next step?
Knowing your customer do not just mean understanding their buying patterns and social behaviors or simply reading industry reports on what your customers may need now.
It has been often noticed that marketers get so busy doing upfront market research before a product launch, that they lose sight of the importance that nestles beneath continuous understanding of the customers, which keeps any business relationship thriving.
All businesses have a multitude of opportunities to gather customer data throughout the customer lifecycle.
However, the secret to success lies in interpreting those data to better serve the customers, retain them and ultimately sell the customers more products and services.
CMS platforms enable business leaders along with their sales and marketing teams to stay on top of the customer buying patterns, a trend that can directly affect their sales, delivery, and customer service successes.
Even an unimportant customer data can prove valuable over time, particularly when it is coupled with additional data sources.
There are many organizations those who invest in complicated or complex CRM systems, only to find they do not have sufficient in-house resources to manage these platforms.
Therefore, before buying your CRM for small and medium businesses, focus on right sizing your CRM system, and buy a CRM built exclusively for SMB processes.
Here are 12 killer tips for buying a CRM that will help you to take your customer relationship to the next level this year:
The more you do this upfront pre-sales research, the greater will be your satisfaction and happiness with whichever CRM you choose as an ideal customer relationship management platform for your business.
Nurturing customer relationship is not just a one-time event. In other words, excelling in customer relationship is not a destination but rather a journey.
Remember, the more you can learn about your customers, the better you can serve them, which is directly proportional to your company’s growth and ROI.