Before moving forward, let’s first discuss a few concepts related to this blog. Businesses work quite hard to attract customers with the help of a mixture of marketing, social media, and brand strategies. A lot of time and effort (and probably money) are required as investments to gain the customers’ trust. It would only make sense to always have a want to hold on to them.
This is exactly where a strong focus is required on customer retention.
To improve customer retention, businesses are required to have a look over the entire customer experience. The customer experience includes everything that the customers would think and feel when they encounter the brand.
Now talking about Salesforce, it is a cloud computing (delivery of different services through the Internet) Software as a Service (SaaS) company specializing in CRM (Customer Relationship Management). In other words, it is an integrated CRM platform that provides your work departments a single, shared simple view of every customer. It is a well-known integrated platform that offers various products for Sales, Service, Marketing, Community, Commerce, etc., and it brings all these products into its single integrated platform.
Furthermore, Salesforce allows complete customization for the organizations to fit their specific business user needs.
Now, let’s go ahead and understand this blog for exactly how Salesforce helps in improving customer service and thus, also ensures customer retention.
Why is Customer Retention Important?
Customer Retention refers to a company’s ability to convert customers into repeat buyers which would also prevent them from switching towards its competitor. It further indicates whether the product, as well as the quality of the service, would please the existing customers. It is also known as the lifeblood of the majority of subscription-based companies and service providers.
Customer retention strategies are the processes and the initiatives that businesses have to put in place to build customer loyalty and ensure to improve customer service and its lifetime value.
Customer retention strategies are not required to be expensive or time-consuming. They should just focus on customer concerns that would be empowering customers to further have a say in matters like how they are treated or giving reviews about the products and services that they buy. When consumers would start feeling that their opinions matter along with an understanding that the company with whom they do business actually cares about them, they would more likely to remain committed to the same company, and would also encourage others to do the same.
This is the main part of customer retention and for the same, more businesses have started taking an active interest to train the employees to show more attention to their repeat customers. In addition to the offering of pleasant greetings, employees are also required to begin with casual conversations and then subtly start upselling certain products. Though customers are quite smart enough to understand what is happening, most don’t mind. They like being addressed by their favorite companies and also enjoy these friendly interactions. When a problem arises, they want to be able to trust the business to gain a quick and fair resolution.
Customer loyalty doesn’t just bring about repeat business. Loyal customers are most likely to provide free recommendations to their colleagues, friends, and family.
Now, let’s move forward and discuss how Salesforce is used for customer retention.
Using Salesforce for Customer Retention:
A Salesforce Development Company also helps in customer retention. Through the following points, most of the effective ways to utilize Salesforce for Customer Retention would be discussed:
1. Centralized Customer Data:
With the help of the Salesforce platform, one could easily centralize all the sources of customer data and that too into a single location, while also involving communications with customers. This will include VOIP systems and email inboxes, which can be integrated with Salesforce to save voicemails, emails, notes, and more to a customer record. Centralizing customer data would ensure that the users are not required to be worried about verifying the accuracy of data or determining whether a duplicate data record is correct or not. Now, there would be more focus on customers and their needs.
2. Personalize Communication with Customers:
With Salesforce, the users would be able to use Pardot Dynamic Content to personalize emails, forms, landing pages, and more. For instance, there could be a configuration of email templates to display the customer’s name in either the subject line or message body of the email. This is a simple yet quite effective way to target many customers, but at the same time make them feel like that particular email has been written specifically for them. If you want to take personalization a step further, you can also customize the content of the email based on customer needs, interests, and even location. Email is just one way to use Pardot Dynamic Content and even the website content can be customized to make it appealing to existing customers.
3. Recognize and Re-engage Your Inactive Subscribers:
The marketing companies frequently further advise one to prune to these inactive subscribers because they are not engaging enough and thus prove to be a disadvantage to open and click rates. It’s well established that the email lists degrade annually, so only a huge section to email could probably be seen. But, if a Salesforce Enterprise account is there, there is a further limitation of 500 mass emails at one single time. If one wants to send more, then integration will be needed. Aside from the marketing software, an email marketing tool could also be used.
4. Track Customer Interaction:
Using Salesforce, businesses can keep track of their customers by further tracking their interactions in real-time. For instance, if one can see when a customer leaves their shopping cart or exits a lead generation form, that would also help the marketing teams in making adjustments to the website. Moreover, in order to gain any additional insights into customers’ behavior, Salesforce data can be easily connected with other marketing data by using tools like GA Connector. With the help of this tool, not only the business can see what their customers are reading, but also what they are actually clicking on, or maybe not clicking on, while browsing that specific website.
5. Integrate Customer Service Tools:
Many companies actually have entire teams that are primarily dedicated to customer retention. One can usually find these kinds of people in either customer service or account management. However, combining those being responsible for managing the customer relationships can not be considered as a good strategy if anyone wants to improve the overall customer experience. With the integration of Salesforce’s customer service apps or implementing tools like Desk.com or Service Cloud, everyone can easily have access to customer complaints, issues, and requests.
Besides these few points, there could be many more effective ways to use the Salesforce platform for customer retention. For the same, Salesforce Consulting Companies also ensure to bring about more customer retention with the help of various features.
Although customer acquisition seems like a fast and effective way for sales teams to increase revenue, it’s not considered to be the most sustainable strategy for any long-term success.
By implementing the strategies that are required to acquire new customers and will also retain existing customers, the company would be asked to choose to invest in future sources of revenue.
Cyntexa is a Salesforce Silver Consulting Partner and is considered as one of the top Salesforce Development Companies in the USA, UK, UAE, Australia, Singapore & India focusing on high-quality and scalable solutions for the most complex business problems out there. Contact us to know more!