Key Risks in Customer Experience Management

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Before we understand how CRM can solve this kind of “business pain,” we need to analyze the existing risks in customer relationship management.

In our experience, the main reasons for losing clients and deals are the following factors:

customer dissatisfaction with the quality of products, services, and maintenance;
active competition , as a result of which customers go to those companies that offer more favorable conditions or better service;
Ineffective communication : Insufficient or inadequate hong kong consumer email list communication with customers can lead to them becoming frustrated and ceasing to engage with you;
unsuccessful marketing and sales strategies that do not attract a flow of high-quality targeted traffic;
problems with a product or service . For example, a product or service that does not meet customer expectations or accepted quality standards may cause customer churn.
Each of them can be mitigated by using CRM capabilities wisely.

How to Use CRM to Minimize the Risk of Losing Clients
First of all, you need to make sure that the above risks are present in your case.

To identify them, it is necessary to analyze the following data and metrics:

churn rate : a metric that measures the percentage of customers lost over a given period of time;
customer satisfaction scores (customer satisfaction ratings) help to understand how satisfied customers are with the company's services or products. Can be found out from surveys and questionnaires;
retention rate , which shows the percentage of customers who remain with the company over a certain period of time;
conversion and transaction metrics . For example, data on sales processes and the conversion rate of interactions with clients (current and potential), which help evaluate the effectiveness of the sales department and transaction management.