Whatever business you’re in, customer attrition is a fact of life. You’ll lose customers through a variety of means, but poor customer retention efforts should never be one of them. If your customer retention has suffered and you’ve lost customers, can you get them back? It depends on your next steps. Exploring a partnership with a nearshore business process outsourcing (BPO) customer retention expert could be the answer.
Why is Customer Retention So Important?
There are many vital reasons why customer retention is so important to your company’s growth. First and foremost, customers are your most important resources. Plus, customer acquisition is roughly five times more expensive than customer retention. It’s easier to get your loyal customers interested in your new products and be willing to try them out. These are two big budget reasons you should be putting a huge importance on retention.
If you aren’t actively engaging your following, they’ll begin to drop off for the lure of a company that’s more active and interesting. With today’s tools, there are multiple ways to reach out and touch your customer base to keep them loyal to your brand. A BPO partner has those customer retention tools and agents experienced at using them.
Engagement is Key to Customer Retention
Among the top reasons for customer churn is engagement – or lack thereof. Customer engagement is a time-consuming process, but it’s vital to your bottom line. Some of the ways you need to keep in touch with your customers include:
- Monitoring their use of your product. Are they calling in with questions because they cannot make it work? Are they thrilled with it? How would they feel about reviewing your product? Would it be a good review?
- Social media. It goes without saying that in today’s business world, you need an active and constant presence on all social media channels. This is one place where you will see real-time feedback on your products, as well as numerous ways to engage your customers. Social media allows you to go to your customer, rather than requiring them to come to you.
- Reaching out to customers who have dropped off the radar. Whether you are calling on the phone, using text or email, contacting customers who aren’t being responsive can go a long way to establishing customer loyalty.
- Always keeping your customers informed of any company policy changes that may affect them. When a customer doesn’t understand the details of their transaction or service because of a recent change in your policies, they naturally get upset.
Every company will go through changes in the customer life cycle. Communicating with your customers is essential for a solid relationship. In fact, your customer is your best asset. A good BPO call center customer retention service can turn average customers into loyal, regular customers. After all, best-in-class service is necessary for retaining quality customers.
Great Customer Service is Vital for Customer Retention
It has been said that “sales get them, but service keeps them.” Expressing and demonstrating attention and appreciation for your customers is vital. One common way to lose a customer is through incomplete or just bad customer service. Although every company wants to give exemplary customer service, problems arise when your operation grows to the point where excellent and constant customer service is not attainable.
Ensuring your customers are happy and taken care of is your top priority. However, maintaining great customer service presents a sizeable challenge when your time is consumed with managing the day-to-day of the company and planning for the big ideas of the future. Therefore, implementing a solid customer experience using BPO call center services is the best way to achieve your goals without maxing out your or your employees’ bandwidth.
When Customers Trust Your Brand, They Stay Loyal
One surefire way to see a customer go is to lose their trust. A 2021 survey of 1,000 consumers concluded that more than 80% of customers consider trust a deciding factor in their buying decisions. Indeed, failing to deliver on promises or not paying attention to customers’ wants and demands may cost your company their business. Depending on the size of your company – or the size you would like to be – this can be a full-time job.
BPO customer retention agents are trained and skilled at getting to the core of a customer’s issues and helping to solve their concerns. This type of engagement can go a long way in earning and keeping customer trust.
In fact, working with a stellar nearshore BPO organization enhances your ability to provide prompt, quality customer service – no matter what day of the week or time of the day. Attentive service builds customer trust in your brand, which fosters customer loyalty and takes your business to a new level. This is the ideal situation because excellent service not only strengthens your business’s relationship with the customers but also encourages them to share their positive experiences with others, which builds even more trust in your organization.
Consumers are just now coming out of lockdown from the pandemic. After spending a couple of years being bombarded with marketing and hand-picked news stories, they’re looking for people and companies to trust. A BPO with professional outbound and inbound call center services can lead them to you.
Winning Back Those Lost Customers
To win back those ever-so-important customers, you must figure out what prompted them to leave. BPO can help with that, too, by reaching out in a non-confrontational way to ask. With a nearshore BPO, agents are English-fluent and culturally apt; they are able to get to the core of the problem and have the skill set to convince some customers to give you another try.
Outstanding customer service that constantly engages your customer base, as well as an outstanding product line are your best bets to beef up your customer retention. Outsourcing customer service and customer retention through business process outsourcing or BPO can free you up to focus on your core business development.
How to Foster Customer Retention with BPO
Confie BPO specializes in business process outsourcing and can help take your customer service and your business to the next level while your key personnel remain focused on what they do best. Providing great customer service through well-trained BPO employees will help build and maintain trust and is a great way to grow and retain your customer base.