Customer loyalty: Six practical steps to success
There’s no denying loyal customers are your most precious asset. Which is why in today’s services-driven world, the customer renewal has become equally important if not more important than the initial sale. But many organizations still haven’t raised their game to support the loyalty efforts. Do you have the business agility and visibility to ensure an exceptional experience throughout the customer lifecycle?
Below are some practical tips to help you keep your customers loyal and renewed.
1. Enforce collaboration across departments
For companies focused on building recurring revenue over the long term, the initial sales cycle is only the start of the customer relationship. Sales and services delivery teams must collaborate closely to offer a solution that meets customer objectives. Think of every sale and customer experience as a team effort and put the practice in action.
2. Focus on rapid business value recognition
Onboarding must happen smoothly and swiftly so that customers quickly see value from your solution. That means your professional services team and/or network of implementation partners play a pivotal role in enabling customer success.
3. Achieve flexible financial management
The appropriate financial management system must be selected to support flexible business models and automate billing, revenue recognition, and audits. Tracking different revenue streams in different systems (e.g. managing subscriptions in one system while tracking consultant time elsewhere) slows down processes, increases errors in billing preparation, and leads to redundant bills (and unhappy customers).
4. Find the 360-degree customer view
Focus on the customer journey—from lead to renewal—by tracking core metrics around retention rates, expansion, and advocacy. Give your organization a comprehensive view of all customer activity – every conversation, every transaction, every request – so any time a customer has a question, anyone from any department can answer.
5. Focus on talent – it supports long-lasting success
To support the above, businesses must build and invest in an engaged and skilled teams to deliver long-lasting business partnerships and customer success. Leverage modern systems that support self-service, a master customer record, and company-wide collaboration to help drive customer happiness and renewed contracts.
6. Use technology best suited for the task
Integrating a comprehensive ERP and Professional Services Automation (PSA) solution with Customer Relationship Management (CRM) systems offers immense benefits to services businesses (and customer loyalty). This integration provides a holistic view of customer interactions, services delivery, finances, and project performance. By leveraging the right technology, you can make informed decisions, streamline operations, and most importantly elevate customer satisfaction.
Want to learn more?
Dive deeper into what a unified system can do for customer loyalty in this short guide. You won’t regret it.
