Generating more revenue is the primary goal of every organization. For this purpose, they hunt new clients and get so focused on it that they forget to retain the customers they already have. If you are doing the same, you are setting up your call center for failure.
Customer retention is the key to profitability; your business can't grow without it. To improve it, you need to optimize interactions and track customers' data properly. Undoubtedly, it becomes daunting at times… but this scenario will change today!
Customer retention entirely depends on call center CRM; using it efficiently can improve your sales. Let's dig deeper to check out what CRM is and how it can help you!
What is CRM?
CRM is an acronym for Customer Relationship Management, and it includes all those tools, strategies, and technologies that organizations use to retain more customers. Not to mention that improving customer interaction results in better revenue and increased profit.
CRM provides the agent with all the relevant information about the prospect for efficient handling. It eliminates the need to have multiple apps, databases, and spreadsheets by providing all the needed information in one place. Hence, it becomes easy to win customers' trust, offer them additional support, and find new customers.
5 Effective Ways to Increase Customer Retention
CRM has the potential to improve your brand's image and provide a higher return on investment. But it won't happen overnight, and you need to use specific tools and follow good practices to make that happen.
Here are the top 5 practices that can help you increase customer retention.
Know What is Causing Churn
Firstly you need to know why customers are unhappy with your services. Do comprehensive research and find out why customers are leaving your company. It may take time to find these warning signs, so be patient.
Yet, the call center CRM makes this process pretty easy. For instance, you want to determine how many services your outbound call center has sold in the past three months. You can calculate this by comparing the number of calls made in three months with the total sales made.
This way, you will get a list of your potential customers and those who haven't purchased anything. Now you may give a reward to your VIP customers and can send a follow-up message to those who are not buying.
Provide Preemptive Services
If you want to stand out from your competitors, you should take a step ahead and collect all the relevant information about your customers. This will help you to provide a preemptive service. Note that it is different from proactive and reactive service.
- Preemptive Service is the best approach, and it involves guiding your customers to prevent/sort out the problems they may face in the future.
- Proactive Service is when your customer has an issue they might not be aware of. You call them first and help them to fix that.
- Reactive Service is when your customer calls you to resolve an issue they are currently facing.
Preemptive Service will dramatically increase customer retention, so don't forget to invest time and effort into it.
No one likes to wait, and neither do your customers. Making them wait may annoy them and negatively impact your brand image. However, it's also impossible for you to take all the calls, especially during peak time, so what's the solution?
Virtual queuing can help you with that. If a customer calls and agents are busy, it places customers in a virtual queue. So, the caller doesn't have to stay on the phone and can hang up. When the agent returns, the system automatically calls the customers standing in the queue.
Accept Your Mistake & Apologise
Let's be honest; you can't afford to mess with your customers. As soon as you realize there's a mistake from your end, reach out to your prospect and apologize to them. This will make them feel valued and you will strengthen your relationship with them.
Sometimes, customers have misunderstandings and get annoyed even if you or your team members make no mistake. You still need to approach them and clarify the situation; this will result in better customer retention.
Reward Your Most Profitable Customers
CRM software provides you with all the needed information and can easily find your most profitable customers. These are the people who are helping your organization to achieve your goals faster, so you can't afford to let go of them.
Acknowledge their efforts and make a list of your VIP customers by using CRM. Prepare incentives and rewards for them to make them feel special, so they continue to buy from you.
You don't need to reinvent the wheel to make your organization successful. Fantastic tools like CRM can help gain your prospects' trust. Hence, you can achieve your goals faster and boost sales by building a strong relationship with your customers.