As house prices fall, energy prices rise and consumers curb their spending habits considerably, hundreds of companies nationwide are beginning to feel the pinch. BT is the most recent to join the likes of Virgin Media and Yell in cutting jobs in an effort to reduce costs. Vicky Redwood, an economist from the consultancy Capital Economics said, “Unemployment is set to peak in 2010.”
The impact which the downturn in the economy is having is significant. With numerous companies reducing working hours and hundreds of people being made redundant, all companies irrespective of size are feeling unnerved.
Mervyn King, the Governor of the Bank of England said, “Britain has entered a recession that will be deeper than had previously been anticipated, with growth set to fall as far as 2 per cent.” Subsequently, businesses are looking for security. It is in times like these when your existing customer base becomes your life line. It is imperative to keep your customers happy; after all, it costs more to obtain new customers than it does to retain existing ones.
So what can a small to medium sized businesses do to protect their future? Through implementing a Customer Relationship Management system (CRM) you can manage your whole business operation, from Marketing to Customer Service and everything in between. A Customer Relationship Management system correctly deployed will bring significant benefits to your business with minimal disruption. CRM can improve your effectiveness, efficiency and customer relationships which will ultimately increase your bottom line.
Concentrix is a leading independent CRM and business solutions specialist located in Leicestershire, UK. Concentrix have helped hundreds of companies improve their customer relationships through implementing Customer Relationship Management solutions. They provide the best in breed solutions including FrontRange GoldMine, Sage CRM and Microsoft Dynamics and their product agonistic approach ensures that you will get the solution which is right for your business.
Through storing all of your customer information in a centralised database, you will be able to increase overall knowledge and enhance the level of customer service provided. Thus, enabling you to prevent your staff from working in silos and subsequently run your business more effectively.
Implementing a Customer Relationship Management solution now will provide you with all the information you need to increase customer satisfaction and help your company successfully makes it through to the end of the current credit crisis.
There's a variety of CRM case studies available for download on the Concentrix website which provides examples of successful CRM implementations.
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