Advancement in technology has led to fierce competition. Customer retention has become one of the major headaches in the industry,
“5% increase in customer retention results in 25% increase in profit.”
Teams slog to draw traffic to the website and network like hell to create your brand and ramp up your social media presence. Then gather the data, generate leads and finally convert them into customers. Even after such a hectic process your customers can be pretty easily swiped away right from under your nose by your competitors. Hence it is imperative as well as mandatory to figure out the best possible tool that helps in customer retention. Finding new customers is tough hence retaining the old ones is always a positive option. Standing on the bleeding edge of technology Salesforce CRM proves to be a blessing for companies especially in terms of customer retention.
Companies use Salesforce for closing accounts which by the way is great but as we are all aware of customer acquisition is way more costly affair than their retention.
Thus it becomes all the more necessary to hang on to the good accounts you have. It might seem to be a lot of hard work but then it definitely comes with a major payoff. Let’s have a look at how Salesforce can help you in this.
1. Centralizing All The Customer Data
One of the most imperative ways to convert the relationship with a customer into a meaningful one is by solving the problems in a timely fashion. No matter how much simple this task may look like but practically it is a tedious job. The companies use various tools and myriad applications among the different teams which lead to the increasing business silos and decreasing efficiency. The simple solution to this issue is to integrate the system and data centrally. Siting a simple example suppose your marketing team uses Marketo, Service team uses Zendesk and your Sales team uses Salesforce go for integration of them with Salesforce gather the data from Marketo and Zendesk and add it to the respective customer record in Salesforce. Thereby enabling a complete view of every customer. It helps to keep everyone on the same page thereby catering to higher efficiency at customer retention. Additionally, it creates transparency and a better opportunity for automation.
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Personalization is a superb and highly impactful concept. Salesforce integration can provide a lot of insights on any customer. One should take advantage of the data to send them personalized mails which will make them feel connected to you on an individual level. Salesforce is a gold mine of data which includes a lot of things like online activities and downloads which can prove to be highly useful. There are other external tools like MailChimp which are easily available which can be conveniently integrated with Salesforce and able to shoot personalized mails to the relevant customers.
3. Track Relationships With Your Customers
Pardot the marketing automation tool can directly be integrated with Adwords and allows the sales and the marketing people to keep a proper track on the leads and also on every customer interaction. On the basis of these interactions, companies can directly resolve the queries and figure out who is interested in buying your products and services.
4. Improved Service
It is extremely important to give proper and on time service to the customers. If you serve them well there is a high possibility that you will be able to retain your set of loyal customers. Post sales it is really essential to deal with the customer’s practical complaints. Salesforce Implementation Service cloud gives an integrated customer service platform. Customer Interactions are never just limited to sending timely offers and discounts but a large part of it includes handling their issues in a timely fashion. Via Salesforce Service Cloud the sales team can access the relevant information and keep a track of the status of the issue to be processed. Salesforce gives you all possible contact details and will help your customer service to immediately contact them and handle the issue promptly.
5. Re-engaging Sleeping Customers
Even the inactive customers represent a large section of the opportunity. Though it might sound a bit off track it is true that customers who have called off the deal before might be more than willing to purchase services from you after the introduction of new offers or deals, etc. Integrate Salesforce with your Marketing automation tool and email platform and import the list of inactive customers and reconnect with them.
6. Figuring Out Why Customers Are Leaving You
Two top most reasons why customers leave are bad customer support and delayed services. Salesforce Wave Analytics helps you dig deeper into the customer behavior and draw meaningful insights. The Salesforce Field Service Lightning allows to communicate with the delivery drivers in real time and it results in a reduction of delayed delivery to a massive extent.
As you can see, a small percentage of customer retention can significantly contribute to higher company growth. A business looking forward for faster growth should focus on customer retention and it is an area where enhancing the data flow can bag huge wins.
References: medium, scribesoft, neilpatel, salesforce