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Clearly Identify Your Target Market & Value PropositionContinue to Re-engage Customers
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A simple, step-by-step guide for businesses implementing a CRM process, also called a Customer Relationship Management process.
Overview of the CRM Process
At some point in the business lifecycle, you’re going to find yourself needing to set up a CRM process. Maybe you’re growing, maybe customers aren’t being managed the way they should.
Clearly Identify Your Target Market & Value Proposition
This is the first step in establishing a CRM Process. Most business owners will have this well documented in a business plan; although as many as 50% won’t. Ensure you know exactly who the target market is (this is more than just customer demographics), and a clear value proposition being offered.
List customer profiles in priority, for example: A, B, & C. “A” would be your most valuable customer. “B” would be second priority, etc.
Let’s look at how the customer priority list in a CRM process looks:
- Customer A- Past/Repeat Buyers (Conversion rate of 75%)
- Customer B- Subscribed to Email List (Conversion rate of 34%)
- Customer C- Website Traffic and/or Walk-in Customer (Conversion rate of 15%)
Different customers may also have different value propositions, but knowing what is important to each type of customer is what sets the CRM process up for success.
Define Your Overall CRM Strategy and Consider Costs
Define How Each Customer Type Will Be Handled
Select a CRM Software to Measure Performance
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