0341: Improving Client Relationships With CRM In The Construction Industry

This Podcast Is Episode Number 0441, And It Will Be About Improving Client Relationships With CRM In The Construction Industry

 

Many complex moving parts are involved in operating a profitable construction company, but at its core, business success hinges on just one thing: customer relationships.    This is why Customer Relationship Management software is vital for contractors who want to grow their business.   A CRM solution helps your construction company nurture and improve client relationships by maintaining centralized data on all your leads and existing clients. With access to a history of customer transactions and communications, your team can make their next move with confidence while offering highly personalized customer service.   Construction business owners know that to find a loyal client base, they have to stand out from their competitors. One of the best and easiest ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business. People think positively about companies that treat their customers and clients well.   

Unfortunately, many small construction business owners focus much attention on their products and services, with customer service remaining an afterthought. 

This is the reason why you need to implement and utilize a CRM that can improve efficiency and increase sales for your construction company.

Increase Productivity

A tool designed to record, maintain, and assess data about your leads and customers is a huge time saver that will help you and your entire team. 

First things first, imagine how many hours it would take to create and maintain your system to track your customer's buying journey. Then consider these other benefits of using a CRM.

Streamline workflow 

A CRM software can improve the organization of tasks, coordination of duties, and collaboration – for example: when employees are assigned different aspects of a project.

 Prevent brain drain

When an employee takes a holiday, goes on parental leave, or moves on permanently, anyone on your team will have access to the information they need to pick up where your sales team left off. 

 Scale (minus the growing pains)

There aren't enough hours in a day to personally manage all your customer data and communications. A CRM makes it possible to take on more clients and manage a more significant amount of data, so you can maintain client relationships, follow up on leads, and serve more customers as the business grows. 

Increase Revenue And Sales

Investing in a CRM can have a very high R.O.I. (Return On Investment), empowering you to close more sales. 

Here's how:

Improve communications 

A CRM makes it easy to connect with your list of prospects and customers in person, by phone, and by email. Your team will make the right impression in every interaction by being current on each customer's history of communications and sales.  

Identify segments

Segmentation is a strategy you can easily take advantage of with a CRM, by grouping prospects by interest and location in your sales funnel. With this information, you can customize your communications with leads and increase your conversion rates.

Up-sell and cross-sell

A CRM can help you quickly identify opportunities to introduce higher-priced or complementary products to your customers based on your records of previous interactions and sales.

The Bottom Line: Happier Clients

Using a CRM is the key to an organized sales system that allows you to offer your customers exactly what they want, at the right time, and in the most appealing way.

Happy Clients Are Returning Clients

Returning clients are fantastic for business. It's less expensive to bring back a happy customer than it is to attract a new person to your business, and existing customers are more likely to make a purchase or do business with you than new ones are. Some reports suggest that loyal customers can be worth as much as ten times their initial purchase. So by keeping your existing customers satisfied, you not only save on marketing costs, you increase your chances of making money in the future.

Excellent customer service makes your customers feel important. You can have a fantastic product or service—and that will go a long way to building your business—but your customers will also remember how you treat them. If you treat them well, they're more likely to be satisfied with their experience, and that will keep them coming back. Even better, if someone has an issue with your product or service, exceptional customer service can smooth things over and convince them to continue doing business with you. 

Happy Clients Tell Their Friends

It's not just that a happy customer comes back, it's that your happy client will tell their friends and their friends could also become satisfied customers who are loyal to your business. They, in turn, will tell their friends about you. The pattern will repeat itself over and over.

Marketing costs money. Word-of-mouth is free, and it's far more valuable than advertising. People trust their friends when they recommend a product or service, much more than they believe an advertisement. Offering exceptional customer service is one way to build loyal customers who will tell their friends and colleagues about you. 

Happy Clients Write Positive Reviews

Happy clients don't just tell their friends how happy they are; they tell the world through online reviews. Whether it's posting a review on Yelp or Google, thanking you on your Facebook or Instagram page, or gushing about your amazing customer service on Twitter, customers can reach their friends, and also friends of their friends and, in some cases, strangers. If they talk publicly about how happy they are with how you treated them, others will see that and come to your business. 

Final thoughts

By maintaining an up-to-date database on every lead, prospect, and customer, you'll be able to serve each one more effectively, increasing client satisfaction and loyalty – with no time wasted internally by the need to catch up on previous interactions.

The most important considerations when researching a CRM is that it's easy to use – so be sure to take advantage of a free demo or trial. You also want your CRM software to be scalable and to integrate seamlessly with your other business tools. 

We have been where you are now and have tried and tested quite a few CRM over time. There's no "one size fits all" solution and each has it's own advantage and disadvantage depending on your type of construction business. Feel free to reach out to me to discuss your options, bookkeeping and accounting issues, or any other concerns you are dealing with in your construction company - whether through email, a phone call, or by filling out the form on the right.

About The Author:

Sharie DeHart, QPAis the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com