Customer Retention
It's a dynamic market out there, no matter your industry. And every new organization that pops up wants a slice of your market share. You could compete on price. You could compete on products. For how long, though? After all, there are innovative ways others can undersell you. And with the rate of technological advances, you could quickly find yourself in a high-stakes game of leapfrog very quickly. There is one area, however, where you can always compete: the customer experience.
In a society where advertising dominates every print, television, and web outlet (and beyond) customers are bombarded with a plethora of choices. And, often, there isn't that much difference from product to product. Faced with so many choices, the deciding factor in customer loyalty is often the customer experience itself. Contact us today to learn more.
Better Customer Experience. Improved Customer Retention.
Having customers is comprised of two main strategies: customer acquisition and customer retention. The biggest difference, from a budget perspective, is that the customer acquisition can cost up to 10 times more than customer retention. Think about that for a minute. Now think about how that affects your return on investment in terms of repeat customers. Think about the word-of-mouth benefit from satisfied customers. It's the customer experience that drives your customer retention model.
So how do you improve the customer experience? There are a few ways, one of which involves proper training of friendly and capable customer service representatives. The other involves comprehensive backend customer experience management software solutions, and that's where RightNow comes in.
KAPA And The Customer Experience
KAPA stands for Knowledge At the Point of Action. You respond to a customer email; that's a point of action. You answer the customer service call; that's a point of action. A customer steps up to the counter; that's a point of action. The customer comes to you with questions or concerns; how will you respond? That's the point of action.
Now for the knowledge part. What if every time a customer approached your organization, your customer service, sales and marketing representatives could instantly pull up that customer's profile? What if your customer service representative knew about your customer's recurring problem and knew what previous steps have already been taken to remedy the situation...all without the customer having to repeat it again?
What would happen? Shorter resolution times. Less customer frustration. A consistently high level of customer service across all touchpoints. In short, a better customer experience would happen--and it would happen regularly. It's this level of consistently great customer experiences that leads to customer retention. After all, anyone can sell what you're selling, but can they treat the customer the way you can? RightNow is here to help you answer that question.
Learn More About The Customer Experience And Customer Retention
RightNow creates innovative customer experience management software solutions with actionable results at the heart of every design. And perhaps no results are more important than a great customer experience.
Learn more about the ways in which improving the customer experience with RightNow CX software can increase customer retention. Contact us today.
Greg Gianforte