Why is customer retention important?
Customer retention is a process and sequences of activities that a company or organization to follow to keep their customers stay with their services or product. In other words, customer retention is customer royalty. When the company succeed in retain their customers, it could at the same time reduce their cost for new customer acquisition and increase annual revenue.
Retained customers are those who trust your brand and satisfied with your product or service. So, they will most likely to tell their story about you to their friends, acquaintances. Your brand, as a result, will have authority referrals which is highly possible to convert into sales.
Furthermore, royal clients would give you authentic, and contributive feedbacks. Especially, they are long-time product users, so they would acknowledge in-depth about your products and/or services. Their reflection would therefore be much valuable and reliable than those that you gather from survey or market research.
Salesforce CRM provides users with an exclusive platform with variety of tools and features that could improve the rate of customer retention, including:
· One Centralized Database
· Data tracking gathered for business insights
· Interaction with inactive customers
· Enhance customer interaction
1. One Centralized Database
Customer data base is crucial to companies. With well-organized, reliable, and easy-to-access data, sales could be lifted, customers could be taken better care, and revenue goals could be achieved.
With Salesforce, all the data of customers will be gathered into one only place, users with a specific assigned role from specific department could partially or fully access to the unified database. These data, following the will of the company that using Salesforce, could include customer communications, emails, voicemails, and diversity of other customer records as a history of their products, services used. All of these centralized data facilitates the process of analyzing and understanding customers better. Proper actions would then could be employed to address the emerging problems.
Centralization of data also enhances the verification process and accuracy of data. Indeed, when all the data is put in the same place, it would be easier to detect data flaws thanks to the application of data quality standard in the system. Then, instead of paying time on processing data as with the traditional methods, users now have more time to focus on the needs and interactions of their customers. All the departments in the organization could have the same view on their current customers and could collaborate in taking better care of their clients and client retention.
2. Data tracking gathered for business insights
Salesforce has an option allowing users to synchronize data from other data tools such as Google Analytic. This will reinforce the insight into behaviors of customers. Users could then categorize these customers in according groups – those who have just read your articles, who have just viewed product information, what section on your site gains the most interest from users, and so on. If you are an e-commerce website owner, with the usage of Salesforce, you could track your online customers in real-time. For instance, where mostly your customers led from, any of customers abandons his cart and why. Then, further approaches could be made to improve the situations and achieve more purchases.
Having access to the mentioned data in Salesforce enable you to interact more authentically with your clients at the right time. For example, when data tells that that a customer has recently click to download a manual from your company’s website, you can then send them an email to introduce the relevant products. Or, to make it more natural, you could send them an inter-connected whitepaper. Likewise, you could recognize the discouraged customer groups and then could send them special offers to ignite their buying interest.
What would be more surprised and satisfied when the company that you bought products from now address you by name after a long time? And your customers could mostly share the feeling when an email sent to their mailboxes with their names included. Salesforce integration can automate this process and make your patrons feel more recognized and seen.
Pardot Dynamic Content in Salesforce enables its users to customize emails, landing pages, forms, etc., in the way that recipients have an impression that this email of information has been designed exclusively for them. For example, your customers receive an email with their names and in some cases, full name included and all the relevant information and products they have been interested in. The result would be so obvious. Pardot provides users with more than just emails. Customer experience could be improved with custom website content, landing pages personalized for specific customers. This might not convert into purchasing now but it generates interest for the next offers. All the powerful tools are integrated
4. Interaction with inactive customers:
Inactive customers are those who once have trusted you and have purchased from you. So, it would be much easier for you to woo them back then spending dollars on sales and marketing to lead new ones. Fortunately, Salesforce would make the whole process to gain more interest from your passive clients in just 03 simple steps:
- Firstly, categorizing the customers into groups with different levels of frequency, e.g. “one time per week”, or “two times a month” to follow-up. This could be carried out easily by users of Salesforce using Classification function. Doing this, all the customers would be put an eye on and well followed-up to the extent that they would feel comfortable with.
- Secondly, keep track of all the activity types of customers like calls or emails, documenting these activities, making reports, and planning on an appropriate course of actions. This would give the users an overview of customer behaviors, the sales team then would know which will be the most suitable way to approach a certain customer without making them irritated.
- Thirdly, planning and using the reminder function of Salesforce. After the two about steps, users now have a very vivid view on which group of customers need to focus on, what approach should be used, and when the appropriate time is. The system allows you to make various plans to address different groups of customers with accordant actions and time. Then, despite how big your customer data is, none of them would be left un-cared. Besides, the report system also lets users know the behaviors of their customers after each plan carried. Users then could justify their approach.
The above-mentioned steps would cover all the customers of your company regardless of the number of them.
5. Enhance customer interaction
With customer service applications or tools from Salesforce such as Service Cloud, everyone with granted access would be alerted promptly about complaints, requests, and issues from customers. Then, shortly, they could have quick responses, offer solutions to all the inquiries. Product or service users would, therefore, have a much more positive experience.
Implementation of those tools helps user to monitor not only direct interactions like phone calls, emails to the company, and feedback on the websites but also the interactions from social media. This task used to require a team of customer relation to follow up all the issues. Now, this would be less time and resource consuming using tools from Salesforce CRM. And as all the data is centralized, users now could specifically know what issues currently occur and who is in charge of that and the progress of providing solutions with just a few mouse clicks.
Building customer retention could help your company grow sustainably. It is now the era of technology and customer service, the more your product and service users feel to be seen, cared for, the higher the possibility they will get back to you. And with the centralized database, various tools for customer interactions and tracking, integrated customer service tools, Salesforce emerges as an exclusive and effective business solution for companies.
Contact our Salesforce Consultant today to find out how we can help solve your CRM business related challenges.