A company with poor customer retention is like a bucket with a hole – you can keep filling it up, but it will continue to leak. A Harvard study has found that a five percent improvement in client loyalty can trigger an increase in profits of between 25 and 95 percent. This is proof that customer retention is a big deal, with your relationship to existing clients being a crucial factor to overall success.
The key to good retention is to make your clients’ experience with your organisation the quickest, easiest and most painless one possible. The way to achieve this is through streamlining your business processes.
Here are some ways improving your management system can foster better relationships with your clients.
Using your time effectively
Every minute you spend on admin is a minute lost from building customer relationships. While improving your management system might come with a price tag, so does the opportunity costs of spending too much time on admin and not enough on client retention. With a streamlined management system, you can expect process efficiency across the organisation, which will free up more time to focus on your valuable customers.
Personalising your service
We live in an era of personalisation, which means it’s essential to make use of all the data you can find about your customers. A good way to individualise your messages is to segment customers into the groups you believe will benefit most from a unique offering. With effective management software, you can utilise data intelligence to segment and target customers. By feeling like your service has been tailored specifically to them, studies show that your customers are more likely to be loyal to your company.
Growing more sustainably
Nothing kills customer retention more than not being able to effectively manage growth. If you’re struggling with multiple systems, expensive input errors and tasks like re-entering duplicate data, your current processes are probably not able to withstand your business’ growth rate. A scalable management system will reduce issues that lead to poor customer service, allowing you tackle new requirements with ease.
Turning feedback into action
By welcoming constructive feedback from both staff and customers, you open the door to streamlining your processes and improving your customer retention even further. An effective management solution will provide a comprehensive view of your organisation, helping you to implement feedback faster and more effectively.
Jiwa can help
By providing the software that’s right for you, Jiwa can help you streamline your business and improve the overall customer experience. We take the stress out of the equation so your business can focus on what it does best. For more information on the benefits of a scalable management solution, contact us today.
