Customer retention is one of the most important factors to consider for brand managers and marketers alike, irrespective of which industry you consider. It pays to retain customers in more ways than one. Firstly, the cost of retaining customers is cheaper than acquiring a new customer. Customers who feel cherished are also more likely to act as brand advocates, and this holds true in the telesales industry as well. Retention planning is a powerful brand building exercise to help a telesales company improve its connection with customers.
Basic Components of a Customer Retention Plan
A customer retention plan should have a way of determining frequency or age of purchases for customers. This is an important metric to gather the customer’s lifetime value. The customer retention strategy should also focus on offers to test what wins back a client. Offers and purchases need to be tied together to determine success. Pulling existing customer data and sending out promotions to segments of customers is also important. Your analytics can help you assess the success of the plan and gain a complete understanding of returning customers to leverage it to its fullest advantage. High value clients will appreciate a customised retention offer and a personal touch can get you limitless profits.
How to Implement a Detailed Customer Retention Plan
#1 Listen to Your Client’s Concerns
A telesales company needs to ensure that customer service agents don’t get distracted or over interactive while the customer is trying to speak. After careful analysis, you need to listen to the problems and come up with effective solutions. This is one of the key traits of a successful customer retention strategy for telesales units.
#2 Speak The Language of the Customer
As a telesales company deals with customers each day, the aim should be to speak the language of the customer. You need to have sufficient expertise and a massive knowledge base when it comes to understanding what the customer needs. Working on communication skills is vital for the sales team.
#3 Know Your Customer
Retention is only possible if the customers and their buying habits as well as stages of consumer purchase decision journey are well known. This can be carried out through research that analyses the customer needs and entire life cycle. Telesales executives need to identify issues through detailed questions that capture data needed to offer customers a comprehensive solution. Understand customer information and marketing campaign impact, if you want to understand your client’s preferences.
#4 Provide Round-the-Clock Connectivity
Answering queries 24/7, 365 days of the year that keep customers happy and content is not easy. Dealing with calls post office hours, a prompt voicemail or answering service, credit card orders, dealer locator and general inquiry services, accessible reservation desks and inbound teleservices are just some of the factors you need to take into account.
#5 Gain Feedback
Telesales is a customer service tool to follow on customer experience and discover ways to enhance service and retain customers. The credibility of the company rests on the ability of the telesales team to follow up on customers even after their purchase. Customer specific solutions need to be oriented towards creating opportunities for business growth.
#6 Understand Client Behaviour With Pathwwway Panama
Customers may cancel orders and impact sales due to reduction in income, in which case you can offer a slimmer, more budget friendly version of the product or service to offer. In an economic recession, it is important to retain customers than lose them, even if it means dented profit margins. This also offers a way out to ensure you retain clients when the economy picks up again.
Another reason customers are drawing back could be that competitors are indeed offering cheaper and best prices. For this, you need to analyse how you can gain an advantage over the competitor in other ways, even if price is a key differentiator.
Additionally, major number of customers will cancel as a last resort because they are dissatisfied with service. Here is your chance to turn criticism into opportunity. A skilful customer agent or a goodwill gesture can cost little and yield rich dividends in terms of repeat purchases, referrals and continued consumer loyalty and brand advocacy.
#7 Invest in Training Human Resources
A specialist retention skill is essential for your team to have. Make sure human capital yields its true potential when it comes to profits and dividends, by providing adequate training. Experts can inject fresh ideas and life into your sales approach. As a telesales company, you may also handle written client communications besides just a call. The right message needs to be sent otherwise repeat business will not be possible.
#8 Offer Dedicated Support For Customer Needs
At every stage of the customer life cycle, you need to offer dedicated support. Your telesales business ensures that when customers call in, they are routed to advisors well aware of client purchase history and needs and can deliver lightning fast services and quick answers. Provide channel choices so that clients can connect with a rep or sales executive that meets their needs best. Customers who value ease and convenience need to be given solutions that proactively manage their concerns. An added bonus is the varied promotional offers that reward client loyalty.
#9 Power Your Brand By Delivering Differentiated Experiences
Offering something that keeps the competition at bay is the right way out when it comes to retaining customers. According to research by Accenture, the ability to provide a differentiated experience was a key factor in maintenance of customer loyalties.
#10 Promotions, Discounts, Coupons: Rewarding the Customer
Rewarding customers for purchases, behaviours, actions is a tool or tactic to increase customer loyalty and enable retention. Customers can be rewarded directly or receive points or credits for discounts, coupons, status oriented or experiential rewards and more. Consider the impact that telesales agents can make through the use of brownie points to involve and retain consumers.
#11 Personalising Customer Experience
Customising customer experience is a tool or tactic used to increase customer satisfaction through experiences with the brand. Based on the type of data, personalisation of the retention plan is easy to increase customer loyalty. Customers who experience personalisation have higher conversion rates and customer satisfaction. Personalisation for a large customer base, with plenty of data ensures your telesales team performs accurate analysis.