Every business irrespective of the industry is all about attracting clients. It is for this reason that even the smallest of the companies have a sales team. The goal is to keep the company revenue flow through sustained sales increase. Most of the companies used buyer acquisition as one of the leading key performance metrics. The sales professionals are willing to spend more time to find ideas to attract more clients as the company grows.
Even though sustained customer acquisition works well for company growth, you never wish to have customers as only one-time clients. Instead, you want to retain them for long-term business success. That is why businesses are investing in customer experience. Customer experience is the impression the client gets when they interact with your brand. A positive buyer experience leads to a happy and loyal customer who will be using your products and will share about them with other prospective buyers.
On the other hand, Salesforce is a cloud computing software as a service company that focuses on buyer relationship management (CRM). It is a platform that provides detailed customer information for all the departments in the company. The platforms like sf.candoris.com have information on the buyer profile, shopping behavior, and other details. The company then uses the platform for targeted marketing, sales, community, commerce, and others.
Salesforce allows the organization to tailor the services to meet the buyer’s needs.
Here is a look at how you can use it for customer retention. But first, why does your company need buyer retention in the first place?
Why is customer retention crucial for your business?
Customer retention is to ensure a buyer keeps coming to your business for solutions instead of heading to the competition. Customer retention comes with various benefits to the company. It increases revenue while reducing costs.
Customer retention reduces the costs of acquiring new customers. Studies have shown that it costs around seven times more to get a new client compared to keeping the existing one. The more you retain your clients the less you spend looking for new options.
Successful buyer retention increases your revenue more than you might have thought about. Having used your services before, it is easier to sell to the existing customers. Studies have established that you have 60 to 70% chances of selling to an existing buyer compared to the 5% chances of selling to a new customer. This means instead of investing more in looking for new customers, you should find ways to improve customer experience. The money you save from reducing the sales and marketing budget can go into the buyer experience and expanding the business.
Customer retention is also ideal for business expansion. Once a client becomes a regular, they are willing to give feedback on the buyer experience which you can apply to improve the business. Loyal customers are also willing to offer you better marketing opportunities. Marketing by word of mouth remains one of the most effective due to the trust it comes with. Once one enjoys the buyer experience, they are most likely to share about the same with other people in their circles.
If you are looking to ensure proper revenue flow and long-term business success, buyer retention is non-negotiable. One of the effective ways to ensure custom retention is through salesforce. Here’s how.
Ways to use salesforce for customer retention
The sales team and various departments in the organization can rely on salesforce to ensure the best customer experience. The experience would in turn ensure buyer retention and loyalty.
Here are some of the ways the salesforce help in customer retention;
Centralized customer data
Every company needs proper data for success. With the salesforce, you can collect data from all the various channels and put them in one location. Whether it is the email correspondent, payments history, customer records, and any other details, you can access it from a single point. Every team member can also access this data without having to contact the ones who had been dealing with the customer before, hence faster service delivery.
The localized data also ensures you have the correct buyer details when handling any issue. This reduces the chances of mistakes that might cause poor customer experience.
Personalized communications with customers
Personalization is one of the most powerful tools in marketing. Even though the customer is aware you have other customers, they need to feel like they are the most valued. No other way beats personalization. Using the names to refer to the client makes them feel valued as a person and not just viewed as only a source of money.
With the data from the sales force, you can easily find the buyer name to refer to them in all communication. Call their name several times on a phone call. For emails and landing pages you can use various software to include their names as if you are addressing them. Once the buyer feels valued, they are likely to return.
Track customer interactions
The other way to use salesforce for customer retention is by observing customer behavior. Salesforce tracks all the interactions of the buyer with the company. This allows you to provide ideal services based on the previous behavior. For example, when you notice a client likes a certain brand, you can always let them know in case of a discount or other offers.
Tracking buyer behavior also helps you improve service quality. For example, if you notice most customers abandon the cart at the payment point, you can look into your payment options or find ways to simplify payment processing.
Engage with churn clients
Once you have attracted clients, it is given that not all of them will keep coming back. However, that is not to say that you abandon them as lost causes. Instead, find ways to reach out and find the concerns or just let them know of the services. Staying visible increases the chances of the client using your services whenever needed compared to the competition. With the salesforce, you can establish the frequency and method of reaching out to inactive clients.
Slow down the pace and take the tools slowly as you determine the impact on business processes.