How ERP Improves Customer Retention
Getting new customers is one thing, but keeping those customers is the lifeline of all successful businesses. We can all agree that it’s simpler to keep an existing customer than to find a new one. It might take months to close a new customer, but it only takes a few seconds to lose one. Making sure you have the ideal systems in place to retain customers is critical. In this guide, we discuss how ERP improves customer retention.
How can a cloud business management software solution with integrated CRM improve customer retention? Simple. One of the vital elements of understanding your customers is ensuring that your sales, finance, and marketing teams are all on the same page. A keen understanding of the value of each of your customers will enable you to get a clear view of where to up your efforts. Customers hold the power position since they have the option of buying from your business or that of your competitors. It’s your job to convince them to stick around.
The number one factor that will determine whether your customers rate you highly or not is their experience every time they interact with any member of your team.
Customer experience encompasses every touchpoint the customer makes with a company, from the marketing that attracted them in the first place, to the sales manager who facilitated the sell, to the customer service they receive after making a purchase. It also encompasses every team member they encounter along the way.
Understanding the value of each client empowers you to personalize the service you provide. You are then able to personalize the service to meet the needs of the customer. Customers stay loyal for as long as you provide what they need, how they want it. Gone are the days where businesses could survive with a one-size-fits-all approach. We’re all just one Tweet, and a 1-star Google review away from losing a customer.
Granted, not all customer interactions will be perfect. Ensuring certain problems don’t persist goes a long way in keeping customers. They too understand that no individual or business is perfect.
What should suppliers do to retain this customer? They should recognize that there were unresolved issues with their customer and that every issue accumulates and helps form a negative overall opinion by the customer. Suppliers needed to review their customer data to be alerted that there were issues to react timely and accordingly to keep the customer happy.