salesforce.com CRM Solutions
Each of these salesforce.com
CRM solutions are grounded in best practices collected from hundreds of thousands of sales professionals supported over three decades. You will increase the velocity of your sales cycle, eliminate sales bottle necks and maximize your sales team’s effectiveness in less than 30 days.
Baker Sales Systems will help you:
- Significantly expand
the capacity of your sales, marketing and
business development teams
- Improve the
efficiency of your sales prospecting funnel
- Dramatically decrease
your sales cycles
- Promote selling
clarity, motivation and sales proficiency
- Expand the geographic
reach of your marketing, sales and customer
services organizations
- Dramatically reduce
the time required to roll out sales improvement
initiatives
Customer retention is a hot topic in any industry, but
especially in communications as it is easier today to switch
providers than it ever has been in market history. As a result,
companies must keep customers satisfied with products, service
and the overall experience in the interaction and use of company
offerings. Whether the company realizes it or not, every
interaction represents sales and losses across multiple products
for the telecom industry. Customer churn costs companies
billions of dollars every year, which means the stakes are
higher today in the effective management of customer
relationships. At this time in the telecommunications market, it
is essential to implement a proactive customer loyalty program
or strategy to drive retention. The challenge is that such a
program is generally not a priority in the establishment of
overall growth and revenue strategies. Too often, companies
measure success as a result of quarterly sales revenues, instead
of the percentage of customer churn, failing to realize that
happy and loyal customers pays off significantly in the long
run.
To drive this message home, the American Marketing Association
recently moderated a podcast: Building a Business Case for a
Proactive Customer Retention Program, featuring Peter Brugnatti
with Bell Canada (News - Alert), Don Peppers, a founding partner
Peppers & Rogers Group and Infor.
The podcast included a focus on the use of good analytics in the
retention of customers; understanding the difference between
behavioral loyalty and attitudinal loyalty; relying on customer
data to avoid churn and manage CRM effectively; creating
personalized offers; and using CRM to better understand how
customer lifetime are affected by current-period actions.
One of the first elements addressed in this podcast was a
question about its title: aren’t all customer retention programs
proactive? While it would be assumed that this should be a
given, in reality, most programs are reactive as companies tend
to react to responses from customers instead of anticipating
wants, needs and actions. In taking the proactive approach, the
company can anticipate customer reactions and design programs
accordingly. It is important that these programs include
customer analytics. The company must measure customer loyalty by
measuring customer activities, wants and desires. By studying
analytics, the company will be better equipped to design a
program and subsequent offerings that meet the needs of the
current client base. This includes the practice of examining
customer behavior in general to identify customers who are at
high-risk of churning. If the company has a full product line,
customers who leave in one product are also likely to leave in
another. The company can use this data and from an inbound or
outbound perspective, offer something that is personalized for
the customer and satisfies a need.
The more the company knows about the customer, the better
equipped it will be to drive loyalty. This topic is of great
importance for the telecommunications provider simply because
reactive retention is expensive retention. The business case for
proactive retention programs suggest that it is a great way to
counter to reactive retention, which is often the second-most
expensive way to keep customers. (The most expensive is
re-acquiring lost customers). A proactive program can help the
company to reduce churn, producing long-term savings to the
company that are significant.
One example is to look at contracts before expiration and offer
value to the customer for renewing early. This approach
preserves revenue over the long term, keeps customer happy and
keeps the customer loyal. Ultimately, keeping customer numbers
from eroding is so much better than high acquisition numbers.
Source: Susan J. Campbell
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