White Cup ’s Post

SMS-iT: Optimizing customer profitability analysis with activity-based costing https://lnkd.in/g7UWTi_B #CRMtips #customerengagement #businessgrowth #CRMstrategy #clientmanagement #relationshipbuilding #CRMsoftware #customerretention #marketingstrategy #CRMsuccess #loyaltyprograms #salesmanagement #CRMgoals #customerexperience #digitalengagement #CRM #business

SMS-iT: Optimizing customer profitability analysis with advanced reporting https://lnkd.in/gAZSpyDu #CRMtips #customerengagement #businessgrowth #CRMstrategy #clientmanagement #relationshipbuilding #CRMsoftware #customerretention #marketingstrategy #CRMsuccess #loyaltyprograms #salesmanagement #CRMgoals #customerexperience #digitalengagement #CRM #business

Just read "Predicting and Using Customer Lifetime Value to Improve Profitability" by Shailendra Kumar on CognitiveToday—an absolute must-read! 📈 The article brilliantly explores how calculating customer lifetime value (CLV) can transform your profitability by pinpointing and nurturing high-value customers. It offers actionable insights on balancing customer acquisition, retention, and development to maximize returns. What really stood out to me is how CLV helps optimize marketing efforts and strategic decision-making, turning customer relationships into long-term profitability drivers. This isn't just about retention; it's about strategically enhancing your entire CRM approach. Highly recommend this eye-opening read for anyone serious about leveraging data to boost their business! 💡📊🚀 Shailendra Kumar Sanjay Sharma Accenture Aruna Pattam Amanda Johnstone Tiger Analytics #customerlifetimevalue #customercentric #marketing

In our latest blog post, we discuss how a digital customer relationship management strategy starts with data entry. Every step should have your customer in mind. Without a policy in place for data entry, your CRM strategy and automatons can come off as disingenuous and inauthentic. Always enter data how you want your customer to see it. Learn how and when to collect customer data: https://lnkd.in/gbGtNAuR

SMS-iT: Optimizing customer data quality with automated cleansing and deduplication https://lnkd.in/gzpEeMQP #CRMtips #customerengagement #businessgrowth #CRMstrategy #clientmanagement #relationshipbuilding #CRMsoftware #customerretention #marketingstrategy #CRMsuccess #loyaltyprograms #salesmanagement #CRMgoals #customerexperience #digitalengagement #CRM #business

Continuing with the previous post of business metrics. As in this post, I am discussing next three business metrics. 4. Sales Growth Year-to-date: Sales growth year-to-date indicates the pace at which your company's sales revenue is increasing or decreasing. Monitor sales growth over various time periods- monthly, yearly, and long- term metrics will give you better understanding of your company stands. How to measure: Check your Monthly sales revenue and the number of new deals. How to improve: Similar to sales revenue metrics, this KPI can be increased by investing more resources in your marketing and sales activities. Sales growth can also be boost by positive media coverage or new product launch. 5. Cost of customer acquisition: The cost of customer acquisition is calculated by dividing all costs spent on acquiring new customers (marketing expenses) by the number of new clients in a specific time frame. The cost of customer acquisition should always be measured together with the customer lifetime value. How to measure: The easiest way to calculate the average customer lifetime value is to multiply the average value of a sales by the number of repeat transaction and the average retention time in months for a typical customer. As it depends on your product specifies - are you selling on a monthly basis, it is a big one time transaction or do people return to make purchases? How to improve: Evaluating CLV of various client segments can help you understand which segments bring in a higher profit. Let go of clients who are decreasing your net profit and difficult to convert, and focus on the most rewarding audience. 6. Customer loyalty and retention: Having loyal customers is beneficial in many ways. It helps to grow your sales and spread the word about your product. The retention rate shows the number of clients who keep using your product over an extended time period and make repeat purchases. How to measure: Formula for calculating Retention rate Retention rate = (((CE-CN)/CS))*100 ♦ CE = number of customers at the end of a certain time period (1 year, for example) ♦ CN = number of new customers acquired during the same time period ♦ CS = number of clients at the start of the time period How to improve: Customer loyalty can be increased over time by providing excellent customer care and delivering high-quality products. The upcoming post will include six more metrics. Follow me for more. References from: Scoro , Cloud 9 ERP Solutions #BusinessMetrics #KPIs #DataAnalytics #BusinessGoals 

SMS-iT: Optimizing customer data quality with automated cleansing and deduplication https://lnkd.in/gzpEeMQP #CRMtips #customerengagement #businessgrowth #CRMstrategy #clientmanagement #relationshipbuilding #CRMsoftware #customerretention #marketingstrategy #CRMsuccess #loyaltyprograms #salesmanagement #CRMgoals #customerexperience #digitalengagement #CRM #business

Revenova published this article back in March 2024, which focuses on the importance of integrating #customerrelationshipmanagement (CRM) with #transportationmanagementsystem (TMS) in the logistics industry. It adds that a pre-integrated CRM-TMS solution can help avoid complexities and costs that are typically associated with custom integrations. Read more on how this CRM-TMS synergy: 🏞️ streamlines operations 📞 enhances customer communication 📊 enables data-driven decision-making

Unlock the secrets to selecting the perfect CRM for your moving business! Discover the top 5 crucial factors that will streamline your operations, boost customer satisfaction, and drive growth. https://lnkd.in/dcq-aWxK

📣 Discover the power of customer feedback with Contivio! 🚀 Our latest blog post unveils valuable tips for maximizing customer insights through Contivio's survey capabilities. Learn how to streamline the survey process, integrate seamlessly with CRM systems like NetSuite, and uncover actionable insights for business growth. https://lnkd.in/gWfVpa4i