As business becomes more competitive, your customers are also looking to reduce their costs. Your competitors are seeking to gain business from your customers. Too many times a company will not know they are losing customers until months later when sales trends show a decline.
Serious businesses use predictive analytics to identify the most profitable customers and customers most likely to cancel maintenance agreements. You can be proactive during this time to retain your existing customers. Here are a few examples of how you can retain your existing customers.
- Set up a daily Alert that is sent to your sales staff notifying them of all their customers who have not purchased within a specified number of days. Sales people can quickly follow up with these customers to ensure their satisfaction with your performance and pricing.
- Use a technology that provides built-in CRM. This will help your sales staff provide higher levels of service to your customers to maintain their loyalty. Having the right information about each customer, their buying trends, and a 360° view of their current and past activity can enable your sales staff to achieve the highest level of service to keep your customers happy.