Customer Relationship Management
Customer Relationship Management or CRM is a set of processes that companies follow to manage their interactions with their current and potential customers. CRM uses data from past transactions and information about customers to understand their preferences in order to deliver more personalised and relevant products or services, build lasting customer relationships and grow their Life-time Value (LTV).
CRM encompasses the marketing and sales process with a goal of converting potential customers into active customers. Its use is extended further to keep existing customers engaged with your brand, with a focus on retention and sales growth over time.
Bullseye CX CRM helps automate highly personalised journeys for each customer and encompasses their entire customer life cycle, from before they even make a purchase to on-going, regular purchases and the development of brand loyalty. Built on world-class technology, Bullseye CX CRM can help you build more engaging, meaningful relationships with customers that encourage repeat visitation and positive ROI.
Importance of CRM
Customers and potential customers today, are being bombarded with messaging from an ever-increasing number of brands trying to sell their products and services. The service industry is no exception to this and faces tremendous competition from new, disruptive sources. As a result, customers are spoiled for choice and the value of brand loyalty has begun diminishing.
For businesses to get their message through to potential as well as current customers, they need to stand out. Customer experience has become a critical platform for creating this differentiation. CRM augments customer experience by allowing businesses to truly know their customers, provide them with highly relevant service offerings as well as communications.
CRM systems are a set of digital platforms and tools that help analyse customer data, create sharp and focused targeting, and communicate with audiences in a timely manner. Communicating with relevant information, that is highly personalised, at the right time can lead to higher engagement, improved chances of repeat transactions and most importantly remaining in the customers’ ‘preferred set’ of brands. Through process automations, CRM streamline communications via digital channels, improve consistency in messaging and derive metrics based on actions resulting in such communications.
Efficiency Through Automation
At Bullseye CX we strongly believe in creating and mapping appropriate actions to every customer action (or inaction) and every insight. In doing so customers are kept engaged through the use of highly precise, relevant and timely communications, which helps improve the ROI on each action.
To accomplish a complete communications loop that addresses each insight via traditional, manual means is highly time consuming, expensive and yields lower ROI on each communication.
Bullseye CX addresses this with robust automations. We break down actions into 2 distinct streams of automations that encompass:
- highly repetitive and regular communication tasks
- digital marketing campaigns and promotions
Through automation, these communications can be triggered based on transactional events, insights and scheduled marketing or promotional campaigns. Once configured into our system, the communications are triggered automatically and sent to the relevant audiences.
Outcomes of Automation
Beyond the efficiencies in communication with several distinct audiences in a highly personalised and relevant manner, marketing automations have other benefits which include:
- Improved accuracy in targeting
- Improved timeliness of communications
- Greater efficiency in sorting, organising and executing campaigns
- Scenario based communications routing
- Freeing up valuable resources from executing communications
- More emphasis on communication strategy and refinement
- More emphasis on content (A/B testing)
- Greater ROI resulting all of the above
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