Customer retention basically means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely. Selling organizations fear customer defections and hence try to minimize them by employing effective strategies to retain the customers.
Researchers have proved that acquiring new customers cost more than retaining the existing ones. Moreover, customer retention is directly proportional to profitability. So, companies need to implement certain customer retention strategies so as to grow their business. Here are the best strategies to curb customer defection and develop long-term relationships:
Skipping or shortening the training period, based on the fact that some agents need intense training while others do not can lead to the omission of useful experiences. This may further result in feelings of exclusion, inadequacy, and disorganization and in the worst cases, the agent leaving your company. Therefore, you should consider training each agent equally. Make sure that all the agents are subjected to the same training period so they can acquire the necessary knowledge and skills, become acculturated to the company’s values, and cultivate relationships with colleagues. This training period will enhance team collaboration and bond and will further lead to the exemption of agent attrition to a large extent.
Call center training programs
2. Schedule the staff appropriately:
One of the most effective strategies in curbing agent attrition is focusing on the work-life balance of employees. This strategy works on the principle of mutual understanding, such that, employees need to understand that the business must meet its customers’ demands, while the business must understand that employees have external pressures as well. Thus, you need to develop a flexible approach creating a number of lifestyle schedule options that give employees more choices, whilst still meeting the business needs. Providing options is a great way of finding a suitable solution and satisfying all.
Work life balance
3. Leverage the power of skill development:
Providing skill development programs is yet another powerful strategy that can help curb agent attrition in customer support centers. As a matter of fact, agents who feel their on the job skill-set is not at all progressive are more likely to disengage with their work and are more prone to leaving. However, all these insecurities can be eliminated and job satisfaction can be increased with opportunities for agents to learn new skills and new technologies. This will help them be more competent and confident, perform their work-related duties and stay longer with your company.
In order to measure the performance of a call center’s customer service representatives individually and as a whole, call center analytics is used. Also, this is used to gauge a call center’s overall approach to customer relationship management (CRM) in a quick and responsive manner. Call center management uses this analytics to evaluate interactions, spot patterns, identify knowledge gaps, and make corrections through more training or other means.
Call center analytics
1. Text analytics:
The term text analyticsrefers to a set of linguistic, statistical, and machine learning techniques that model and structure the information content of textual sources for business intelligence, exploratory data analysis, research, or investigation. It is extensively used to respond to business problems, whether independently or in conjunction with query and analysis of fielded, numerical data. Also, the communication with customers these days is not limited to just the written documents. It is also carried out through email, secure messaging, Facebook, Twitter, and other text-centered media. Text analytics, as call center analytics, can review and monitor not only the messages sent to customers but also the message they send to the company. This helps in having a thorough knowledge of customers’ issues.
Text analytics
2. Speech analytics:
The process of analyzing recorded calls to gather customer information to improve communication and future interaction is known as speech analytics. This process is used by customer contact centers to extract information buried in client interactions with an enterprise. Using speech analytics, companies can monitor calls in real time and unearth inefficiencies in their current model, and make process improvements, such as moving to a call script or developing systems for call center agents to utilize in order to achieve the desired outcome. Moreover, the technology can pinpoint cost drivers, trend analysis, identify strengths and weaknesses with processes and products.
The term “Cross-media queuing” refers to a call center methodology in which all incoming messages, be it a phone call, an e-mail, fax, interactive voice response (IVR) message, website submission or an instant message, is routed in the same way. As per a resource, Intel provided a whitepaper which states that the cross-media queuing application needs five components. Cross-media queuing is achieved with the help of technology tools that help in creating a queue engine, media interaction modules, agent application modules, configuration and administration modules and a statistical and reporting module.
Incoming queries
The specified components and their functions have been described in detail below:
1.Aqueue engine:
The cross-media queuing requires a queue engine to act as a central coordination point. A system manager configures business rules. This coordination point negotiates all interactions with customers based upon these business rules.
2. Media interaction modules:
Customer queries may be received through a number of channels. In order to accept incoming customer queries from media channels and send the queries to agent applications as directed by the queue engine, media interaction modules are needed.
3. Agent application modules:
Customer queries arrive every now and then at call center agents’ desktops. Therefore, in order to enable automatic management of these queries, agent application modules are needed. The modules could be built by the system developers. Agent application modules can even be modified to be integrated into specific desktop applications.
5. Configuration and administration modules:
Configuration and administration modules are the ones that system administrators can use to establish business rules for routing media configure and manage queuing features.
6. Statistics and reporting module:
This type of module is required for recording and reporting purpose in a cross-media queuing system. A statistics and reporting module records and reports upon the flow of communication. It also lets you measure the system’s performance and record it as well.
Callers would appreciate calm and friendly demeanor. Donning a pleasant expression automatically helps your voice convey friendliness and openness. On the other, staying straight-faced, on the other hand, immediately removes that kindness from your voice. Therefore, try greeting a pretend client as you would on the phone i.e. out loud, first with a smile and afterwards without. This would help you deal with a difficult customer and please him/ her. Moreover you would not be subjected to hear hear more of a strain indicating that you do not really want to be talking to this person right now !
Smile while on call
2. Understand that nothing is meant to be taken personally:
There are many instances where while dealing with a difficult customer, business owners or customer support agents take it personally. It needs to be understood that customer is being difficult due to past experiences with other companies. It is a fact that customers who have had bad prior experiences with other companies are often hyper-sensitive and read into things too much and often end up becoming difficult over the smallest things. Whenever any such case is encountered, it is important to calmly and clearly put the situation into perspective for the customer and assure them that their queries will be resolved in the shortest possible time span. This will lead to the customer being calmer and more cooperative.
Don’t take things personally
3. Business owners and customers desire the same thing:
A pleasant, happy and speedy transaction is what both business owners and customers desire. Therefore, while dealing with a difficult customer, business owners can resolve any disputes by letting the customer know they are willing to fully work with them to make them happy. Letting the customer know they are there to help will lead to the customer becoming less difficult and easier to work with.
Showing customers how to utilize self service tools leads to the long term adoption of self service tools which is yet another benefit of co- browsing. It is extremely beneficial when:
i) a company is launching new online tools or updating existing tools or procedures
ii) when specific customer segments are having trouble using online tools
iii) when white-glove service can be provided to top-tier customers.
Utilization of self service tools
2. Differential customer service experience:
These days customers ask to co-browse when they contact an agent because they know co-browsing allows them to get help instantly and conveniently. In other words, co- browsing creates a differentiated customer service experience. This exempts the risk of losing customers and results in returning customers. Hence it improves your business performance.
Customer service experience
3. Customer service agent satisfaction:
There is a possibility of agents being frustrated when customers articulate issues and agents are required to verbally direct the customer to perform actions online. Thus, providing the agents with technologies such as co- browsing reduces this frustration and leads to an increased efficiency of customer support. Moreover, agents appreciate being given the tools they need to be more efficient and productive so they are able to meet their performance goals.
Contented agents
5. Reduced call handling time and improved efficiency of customer support system:
Co-browse technology helps in the reduction of call handling time. As a matter of fact, the less call-handling time agents will take, the more level of customer service they will provide. Thus, co- browsing promotes efficiency by enabling agents to handle issues more quickly and accurately. It can also be used as a real-time live training tool to help on board new agents and familiarize them with the customer experience quickly and efficaciously. The customers also get satisfied as they get faster resolution and the agents save their time.
Co-browsing, in context of web browsing refers to joint navigation through the world wide web by two/ more people accessing the same web pages at same time. Complete co-browsing supports automatic synchronization of the browsers’ state and content, including frames, portlets, or even content of the form fields and controls. Various tools are employed for this purpose some of which can even identify complex media objects such as audio and video players and offer capability of synchronous playback with start/pause/stop functionality.
Co- browsing
Co browsing is a short form of collaborative browsing. It is a software-enabled technique that allows someone in an enterprise contact center to interact with a customer by using the customer’s web browser to show them something. In case of a B2B scenario, it can actually be used ease out the complex purchasing process for the customers. For instance, a B2B customer facing difficulty placing an order could call a customer service representative who could then show the customer how to use the ordering pages by sharing screen on the desktop or whatever device is being used. Collaborative browsing may include e-mail, fax, regular telephone, and internet phone contact as part of an interaction.
B2B co- browsing
Co-browsing has so far evolved to support a full user web experience. It has come up as a great tool for customer service and support teams. You need to keep the following points in your mind while considering a co- browsing solution for your business:
i) co-browsing solutions must be offered in a seamless manner irrespective of the communication channel the customer initiates the conversation from.
ii) solutions that cannot share critical information that exists outside of the browser will inhibit the experience your customers expect.
iii) co-browsing technology that mandates tagging each and every page that a customer may want to share may be a technical challenge and, in many cases, not feasible.
iv) co-browse solutions that share a browser experience may help with simple web page based content but are not capable of extending to view the rich content on every web page, so make sure that all viewers are seeing the same and synchronized content
Content marketing refers to the marketing focused on creating, publishing and distributing content to online targeted audience.It is a crucial element for B2B lead generation. It is often used by businesses in order to attract attention, generate leads, expand their customer base, generate online sales, increase brand awareness or engage an online community of users. While pursuing content marketing, the main focus of the businesses should be the needs of the prospect or customer.
Once a business has identified the customer’s need, information can be presented in a variety of formats, including news, video,white papers, e-books, infographics, email newsletters, case studies, podcasts, how-to guides, question and answer articles, photos, blogs, etc. The appropriate type of content for any business will depend on the business’ goals and target customer.
Content marketing
2. Search engine marketing:
Search engine marketing includes both paid search results (using tools like Google Adwords or Bing Ads, formerly known as Microsoft ad-center) and organic search results (SEO) and plays a crucial rule in B2B lead generation. It includes the following steps:
Keyword research and analysis: It involves ensuring the site can be indexed in the search engines, finding the most relevant and popular keywords for the site and its products, and using those keywords on the site in a way that will generate and convert traffic.
Website saturation and popularity: It means how much presence a website has on search engines, can be analyzed through the number of pages of the site that are indexed by search engines (saturation) and how many back links the site has (popularity).
Back end tools: These include Web analytic tools and HTML validators which provide data on a website and its visitors and allow the success of a website to be measured.
Whois tools: They reveal the owners of various websites and can provide valuable information relating to copyright and trademark issues.
Google Mobile-Friendly Website Checker: This test will analyze a URL and report if the page has a mobile-friendly design.
In the previous post we talked about B2B lead generation and its components. Now let’s take a look at the strategies that can be employed to generate leads online:
1.Email marketing:
It refers to sending a commercial message to a group of people (typically potential or current customers), using email. It basically inculcates the use of email to send advertisements, request business, or solicit sales or donations, and is meant to build loyalty, trust, or brand awareness. Email marketing can be carried out using:
Transactional emails: These emails are usually triggered based on a customer’s action with a company. To be qualified as transactional or relationship messages, these communications’ primary purpose must be to confirm a commercial transaction that the recipient has previously agreed to enter into with the sender, along with a few other narrow definitions of transactional messaging.
Direct email: It involves sending an email solely to communicate a promotional message (for example, an announcement of a special offer or a catalog of products).
Mobile email marketing: Itdevelops large amounts of traffic through smartphones and tablets.
Email-Marketing
2. Social marketing:
This type of marketing involves leveraging social media to generate leads online. Businesses can use it to generate and nurture millions of dollars worth of leads. As a matter of fact, one of the most obvious ways to generate B2B leads from social media is using LinkedIn. Since social media is an integral part of content marketing, and to some extent, search marketing, so, your blogging or info graphics can be extremely successful if you are active on social media platforms.
In order to integrate social networks into their marketing strategies, companies have to develop a marketing model. One such model includes the following steps:
Selection of the correct social networks to use
Setting out a financial plan for hiring social media brand managers or consultants
Designing organizational structures to manage the social network in the companies’ market
Selection of target markets
Selection of the products, services, brands or company messages that you plan to promote
Performance measures for the social media strategy such as evaluation, data analytics, etc.
Building and growing your personal brand requires a lot of hard work and dedication. a strong personal brand is a valuable asset to every entrepreneur. Although brands and businesses might be built around ideas, they’re still ultimately represented by people.
1. Research:
This should be the first step of your personal brand building process. The basic idea is to figure out who you are as an individual, as well as a professional. It includes discovering things that inspire who you are as an individual and finding out what others think of you when they hear your name. Make a list of words that best describe your personality, values, and worth ethic. Now, narrow this list down into the words you want to be recognized by. Create a list of your likes and dislikes regarding your brand. Pay close attention to what people say about your brand on social media platforms.
Research
2. Identify and leverage your strengths:
Identify the characteristics that make you stand out of the crowd and then convince people why you are better than your counterparts. Know the areas of your expertise and leverage them to build your brand. You can even ask others for their views. They can help you discover that one thing which according to them you rock at.
Strengths
3. Create a virtual platform:
Creating a virtual platform includes creating a website. You will also require social media accounts that represent your brand as these platforms will help you share your voice.
Building a platform
4. Do not fake your identity:
While building your personal brand you strictly need to avoid sugarcoating. Leverage your style and uniqueness to attract the jobs and clientele that you desire. Instead of faking your identity, discover your own style and create a new set of footprints for others to follow in.
Outbound marketing is a marketing methodology that tries to reach consumers through general media advertising as well as through in-person contact. Outbound marketing can be carried out in the form of TV advertising, face-to-face meetings, or cold- calling. Through each of these outbound methods, sales leads are generated and then followed up by internal sales representatives.
Outbound marketing
Some of the best outbound marketing strategies to grow your business are:
1. PPC ad campaigns:
PPC is a short form for pay per click that further refers to a model of internet marketing in which advertisers pay a fee each time one of their ads is clicked. Essentially, it’s a way of driving traffic and buying visits to your site, rather than attempting to earn those visits organically. Your ads will appear as sponsored results at side or top of organic search rankings with PPC on search engines. PPC is the most efficacious way of drawing attention to the latest content or service offerings. Moreover, PPC ads are highly targeted, so, they can generate very high-quality leads.
Pay per click
2. Direct mail:
Direct mail consists of a wide variety of marketing materials, including brochures, catalogs, postcards, newsletters and sales letters. Direct-mail advertising is one of the most effective and profitable ways to reach out to new and existing clients. Direct mail is very effective when it comes to growing a business because it aims at targeted communications. You can actually grab the attention of your desired prospects by leveraging your creativity and the power of your message and presentation. Thus, direct mail is a very direct and powerful way to share your content asset.
Direct mail
3. Tradeshows and webinars:
Events such as tradeshows and webinars provide an opportunity to introduce and define your brand, clarify the solutions you provide and make personal connections with participants. Whether it’s an international trade show or an executive-level webinar, the two-way channel of interaction between customers, prospects, and your company is knowledgeable to them and beneficial for the businesses.
Content marketing is one of the many beneficial inbound marketing strategies that will help you build your business and grow it further in the long run. It is described as the form of marketing focused on creating, publishing and distributing content for a targeted audience online. It is often used by businesses in order to expand and diversify their user base. It is also used to create an online community of users, increase brand awareness and online sales. For this purpose, first, you need to start a blog. Blogging helps you to attract new visitors, gain returning visitors, convince warmer leads and helps keep your users updated. You can even include case studies and customer testimonials into your content marketing plan as it will help convince leads that are further down the funnel. Moreover, creating a content calendar will ensure that you stay on top of publishing updated content consistently.
Content marketing
2. Remarketing:
Remarketing defines the action taken on by companies to reintroduce a product or service to the market in response to declining sales. The company remarkets the product as an advanced version of an existing product or something that has been improved in order to reignite interest and boost sales. Remarketing can be implemented in a variety of ways such as:
i) you can remarket to anyone who visited your site
ii) show specific ad to visitors who went to a certain page
iv) show an ad to someone who has placed items in a shopping cart, but hasn’t yet converted
Remarketing
3. Top- notch landing page:
A top- notch landing page consists of videos or images, testimonials, and trust signals that help improve the conversion rates. Landing page can further be described as a standalone web page distinct from your main website that has been designed for a single focused objective. So, you need to make sure that the landing page is relevant to the call-to-action, such that, whether it be a product page, a form fill-out to download a whitepaper, or a subscription service page, it provides the maximum possible conversion rate.
An email list is an important aspect of inbound marketing and one of the most crucial factors in building a business and growing it thereafter. Opt-in email is a term used when someone is given the option to receive email and is some sort of mailing list, newsletter, or advertising. Without obtaining permission before sending email, the email is spam. Email opt-ins are categorized as:
i) Unconfirmed / single opt-ins:
Someone first gives an email address to the list software, but no steps are taken to confirm that this address belongs to the person submitting it.
ii) Confirmed opt-ins:
A new subscriber asks to be subscribed to the mailing list, but in this type of opt- in steps are taken to confirm that the address provided belongs to the person submitting it.
Opt- ins
2. Personal branding:
Personal branding refers to the practice of people marketing themselves and their careers as brands. Personal branding is essentially the process of establishing a prescribed image or impression in the mind of others about an individual, group, or organization and often involves the application of one’s name to various products. When someone starts a business, it’s virtually impossible to separate oneself from that business. So, a personal brand can actually be used to build that business. Brands such as Tim Ferriss’s and Ramit Sethi’s depend almost exclusively on the power of their personal brand.
Personal branding
3. Free guides and reports:
You can actually create advanced guides and give them away for free. You just need to make sure that the guide is relevant to your business. So, you are required to keep your guide as specific as possible, because you are using it to gain a certain type of visitors such as the ones who will convert to become your customers. These guides can actually be used to showcase your expertise in your work and to provide other marketers with valuable information that can help them in growing their business.
Discounts on the existing prices can prove to be the most effective lead magnets because consumers can easily price-shop for products. You can offer coupons and enticing discounts on your products and services so as to generate leads.
Coupons
2. Loyalty programs:
Loyalty programs are structured marketing strategies designed by merchants to encourage customers to become long term customers and to continue using the services of businesses associated with each program. These programs cover most types of business, each one having varying features and rewards schemes. In marketing a loyalty card, rewards card, points card, advantage card, or club card is a plastic or paper card, visually similar to a credit card, debit card, or digital card that identifies the card holder as a member in a loyalty program.
Loyalty card
3. Free reports:
Free reports include whitepapers, e-books, articles, and guides in the form of lead magnets. Your aim should be to provide compelling information to make a valid value exchange between your prospect and your business.
Whitepapers
4. Webinars:
Webinars are educational, informative or instructional presentations that are made available online, usually as either videos or audios with slides. Since webinar attendees connect online, they can use Internet-based technologies to like communicating through instant messaging, file sharing, using a whiteboard collaboratively and interacting through social media sites in order to enhance the experience.
Webinars
5. Podcast:
Podcast refers to an episodic series of digital media files which a user can set up so that new episodes are automatically downloaded via web partnership to the user’s local computer or portable media player. The distributor of a podcast maintains a central list of the files on a server in the form of a web feed that can be accessed through the Internet. Files are stored locally on the user’s device such that it can be used even if he/she is offline.
