Listening to the Voice of the Customer speaks volumes in ROI

As the economy begins improving, you are probably seeking tools to solidify your customer base and reach out for new business. Your existing resources in doing all that are most likely the usual eclectic mix of experienced people, backed up by an array of computer hardware and software that runs everything. In all those parts, though, does the voice of the customer somehow get distorted in the background noise of just trying to keep track of everything?

Tuning back in through Customer Relations Management

There are plenty of resources to help you bring your customers back to the forefront of your company’s focus and culture. There are costs and investments in training involved, of course. But what about ROI? In the alphabet soup of business terms, ROI is the buzz-term for “If you buy this, boss, you’ll get a great return on the company’s investment.” It is the bottom-line, gimlet-eyed judgment your CEO and CFO (who might be you) think about at all times: money spent versus money generated.

ROI not always just money

ROI can also involve qualitative aspects, such as how an investment in money and time can actually move your business forward. One striking example would be the time your salespeople or marketers spend on the telephone with the care and feeding of your existing and potential customers. The ROI benefits are enormous, of course.

Here’s the kicker: According to a piece on Small Business Notes, 65% of your business comes from customers you already have. And guess what: It costs about five times more to go out and get new customers than it does to keep your current customers happy.

Happy customers are creatures of emotion

The aforementioned happiness is dependent on knowing how your customers think and the role of emotional preferences in how they want to do business. Those preferences are based on the premise that your customers “want what they want when they want it” and that they prefer doing business with people they personally like.

So when it comes to listening to the voice of the customer, familiarity absolutely does not – as the old saying goes – breed contempt. Customers tend to stay with familiar businesses, and your customers don’t change their buying habits quickly. The above-mentioned piece in Small Business Notes puts it rather nicely: “An important key to serving customers well is this – don’t try to change them.”

The help you need to optimize

Even if you have the best relations with your customers and your people are absolutely telephone wizards, you can optimize the 65% of your business, sell more and start growing as you have more time for the other 35% not yet on board. There’s help out there for improving and integrating your customer relations management into all your other business tools – accounting, contact management, etc.

The even better news is that most of that help comes without significant hardware or software upgrades or need for lengthy in-house training. Contact us and learn about our customer resource management products that improve the way you communicate with and engage those who buy, use or wear your wares.

There’s a bonus, too: We can show you how to optimize your new efficiencies into analysis tools that take the guesswork out of business strategic planning – which is definitely one of those difficult to quantify, but easy to understand, ROI considerations.