The challenge of customer retention initiatives is not always tied to major operational efforts. The most important factors are the discipline and mindset so that the company’s attention is focused on customer satisfaction. Remember that by properly managing your customer relationships, you can not only keep them happy, Jamaican Email Addresses but also detect new business opportunities Jamaican Email Addresses . For this to happen, it is necessary, for example, to closely monitor the company’s turnover rate, which is essential to measure the sales force’s efficiency in maintaining revenue. To ensure that the team is properly engaged, another metric you should monitor is LTV (Lifetime Value), which is used to calculate how much revenue each customer generates for the company during the contract period. Attention : Jamaican Email Addresses anyone who works with subscription services must relate this data to the CAC , making sure that the LTV is higher, so that the acquisition of new customers means profits, not losses. This is an issue that needs to be carefully evaluated and emphasized internally, including to ensure that teams are dedicated to customer retention strategies. Since we mentioned LTV, check out an interactive calculator we made on this metric Jamaican Email Addresses . You can use it your way to find out how positive your results were.
strategies for customer retention in times of crisis
If you were to ask an entrepreneur, at the end of Jamaican Email Addresses , what the plans were for the year 2020, the answer would certainly not come close to the current reality of the world. The Covid-19 global pandemic , in addition to being a public health crisis, Jamaican Email Addresses directly and severely impacted companies. In a scenario of economic uncertainty, companies needed to adapt and respond quickly to the moment. This happened both to those who saw their sales grow due to the increase in demand and to those who suffered the consequences of the health crisis – and these are the majority. It seems a little strange to think that the digital transformation has been accelerated by a pandemic Jamaican Email Addresses . But the fact is that it is no longer possible to think about the survival of companies that have not digitized and changed the way they relate to their customers. With that in mind, Jamaican Email Addresses we will present 7 actions that can help companies (small or large) to differentiate themselves and get through the crisis. Without a doubt, attention to the customer base is directly related to retention and improvement of results. Perhaps your operation has been quite affected by all of this, or perhaps you have adapted well to the new way of working, but there is one thing that hasn’t changed and that, more than ever, needs attention: your customer . This is the time to understand everything that is happening, whether your customer is a company or an end consumer.
Know your customer
Hear what he has to say. Only then will it be possible Jamaican Email Addresses to understand what he expects of you in the situation you are facing. Understand your reality and enjoy your openness. This is an auspicious time for closeness and genuine listening as people need to share their anxieties – and you can be the listener they are looking for . Listening can provide valuable information. Jamaican Email Addresses It’s necessary to truly know the customer’s needs and build a trusting relationship with them if you haven’t already. Even in companies where the relationship with the customer is not long-lasting, you can get closer and show yourself present by taking advantage of the available means, such as social Jamaican Email Addresses networks and WhatsApp. Exchange experiences. You must not only listen, but also talk about the moment and show empathy . Let the customer know how important he is and how much you value him. How have you worked so far? Before the whole crisis started, how did you know your client Jamaican Email Addresses If you knew a little more, could you be closer to him now? Learn from it! From now on, focus on knowing who your customer is.