HomeNewsBusinessFive ways an SME can build customer loyalty through effective communication

Five ways an SME can build customer loyalty through effective communication

Communicating with customers has never been so easy. The data generated should be shared extensively within the organisation to keep pace with customers' demands and pet peeves to build a lasting relationship

November 23, 2022 / 06:06 IST
Story continues below Advertisement

Is customer relationship management (CRM) a fad or real deal? Is there such a thing as a relationship with a customer or it is just a fling between a salesperson and a customer?

More intriguing is the transient relationship a customer has with a company, based on cost savings or convenience. Is it all about opportunism–opportunistic on the enterprise side to increase business and profits and opportunistic on the customer side to make the most of a promo or knocked down prices?

Story continues below Advertisement

We all know the importance of retaining customers over acquiring a new one, whether it is cost, effort, or time issue. Management gurus have written best-selling books on this topic. Tech companies are pushing out whitepapers and demos to proclaim that by buying their CRM software you will have your relationship issues sorted.

One of the key elements of a company's success is never losing sight of the customer, which means having a customer-satisfaction agenda in place.