The impact of a CRM on the company

I read a very interesting thesis on customer relationship management dating back from December 2001! Mr. Benjamin Mucci mentions the impact of a CRM in business and I learned many interesting statistics.
His first interesting statistic: “A 5% increase in customer retention rate can mean a 60% increase in profits over a 5-year period”
This statistic revolutionized customer relationship management in the 1980s.
Second interesting statistic: “The establishment of technological infrastructures intended for CRM management comes third in importance, both in medium-sized and large-sized companies”. We therefore understand the importance of a CRM in several companies.
One final statistic made me think for a long time: “According to a study by the Rockefeller Foundation on the reasons for the departure of customers from a supplier, we learn that:
14% left because a complaint had not been dealt with
9% because of the competition
9% due to a change of location
68% for no special reason
These figures show us very well the importance of managing its customers even if no after-sales service or support has been requested. It therefore seems essential to pay attention to your customers once the sale has been made and to manage service and support proactively. ”
The conclusion of this thesis is quite eloquent: “Now that the demonstration of the need to implement customer relationship management is no longer to be done, it became important to take the necessary perspective to understand the implication for the company and for the marketing sector. As we have seen, it is essential to see CRM as a strategy and not just as a tool. ”
At BSP, we believe that no matter what type of business you are in, you should place importance on customer relationship management. For more information on how to achieve this for your company, contact us.
Does this approach appeal to you? Your comments are welcome!
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