Promoted | Key customer retention strategies for SMEs
business wisdom that retaining existing customers is cheaper than attracting and onboarding new ones., the likelihood of selling to an existing customer is 60-70& while the chances of selling to a new one are between 5% and 20%,” says Euphoria Telecom CEO John Woollam. “This means it’s worthwhile for SMEs to investigate and implement customer retention strategies.”1.
“People tend to approach these things from their perspective, as people who know and understand the business and its products and services. To truly deliver a great customer experience you need to move out of that mindset and approach your business as an outsider would,” says Woollam., the pandemic made customers more discerning, with 61% likely to leave a provider after one bad experience.
Make sure your technology is enabling rather than inhibiting this approach. CRM and support desk systems that integrate with your telephony systems will give your support agents the information they need so that your customers do not need to repeat themselves and can receive theIf you can see your customer is getting unhappy and frustrated with back and forth, says Woollam, then “go back to basics”.
Listen to the feedback your customers give you when they deal with your receptionist, your sales teams, your call centre, your accounts department and your support staff to gather the clues you need to identify where things could be improved. Get everyone in the business involved in delivering that feedback to you, not just the obvious sources like your support agents.
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