What can you do when revenue targets keep increasing but your budget stays the same? It’s a challenge more and more companies are facing – and many of them are looking to their contact centers for solutions. Because progressive leaders understand a new CX strategy can transform corporate culture; turn customers into advocates; and boost revenue.
Focus on current customers:
It might not sound very radical, but companies that concentrate on existing customers and work on building their loyalty see real results. Up to 30% of their target goal! There are a number of reasons for this, including:
- Conversions on offers to current customers are 2-3 times higher than those to prospective customers
- Loyal customers can become advocates you empower to help accelerate growth
Also, by concentrating on current customers, you can make the most of contact center interactions. This is critical, because unhappy customers inflict a high price, they:
- Result in fewer, or no, repeat sales
- Cost more to service – more time, resources and escalated calls
Grow revenue:
Once you’ve got a strong base of loyal customers, there’s still the question of how to create a CX strategy that turns them into advocates. The Blueprint for Growth provides step-by-step instructions and takes you through this revenue-boosting process:
- Make CX part of the corporate culture – customer satisfaction depends upon it (think customer-facing tools, resources and interactions)
- Develop great employees – companies that deliver superior experiences can charge a premium of up to 16% on products and services
- Design a plan for continuous improvement – start with strong customer relationship management software
- Be proactive – encourage, monitor and respond to customer feedback, take action on what you hear
- Show customers you value their time – shorten customer journey, reduce points of friction and frustration, and offer self-service options
- Evaluate and upgrade processes and tools – future-proof your business with cloud contact center solutions
- Deliver customer service worthy of loyalty – customer expectations keep rising, make sure your level of service does too
- Empower, reward and unleash customer advocates – loyalty programs, social media, perks, customer success stories, webinars, meet-ups and more
The Blueprint for Growth offers contact centers practical advice and proven techniques for growing revenue by turning customers into advocates. The eight initiatives also serve as points of discussion by identifying goals and processes that demand contact center modernization, including:
- Omnichannel routing
- Workforce optimization
- Reporting and analytics
- Automation
- Artificial intelligence
Get more information about CX strategy, building loyalty, turning customers into advocates, and growing revenue by downloading Blueprint for Growth: The Ultimate Guide for Turning Customers into Advocates.
