Can Constructive Customer Management Impact the Customer Retention Rate?

Would you forget a customer that bought your product once, 3 months back or even the one that gave you numerous referrals a year ago? Same way, I am sure you are unlikely to forget the one that gave you a bad review. Customers-current, satisfied or unsatisfied, all are equally essential for driving your brand success.

In fact, you may never realize it but satisfying a disgruntled customer could be easier than delivering that positive customer experience to a satisfied customer.  You may find it difficult to re-engage an existing customer on a regular basis so that they don’t abandon you at some stage.

Have you lost your loyal customer, after a bit? Have you considered the reason for it? Let’s take a look at why most customers may switch to a competitor:

  • Poor customer experience with the current service
  • Lack of knowledge of a service executive
  • Technologies that put a hold on the seamless process
  • No proper customized solutions to customer queries and issues
  • Limited options made available

Now, that you have analyzed the reason, do you have any idea how to put a stop to this? Is there a proper solution? Yes, indeed. The key to retaining a customer is in “constructive customer management”.

What is Customer Management?

Have you considered what customer management really entails? Now, it is no more just a customer service executive responding to your queries or providing solutions for issues. It not about offering free coupons, either.  To deliver a positive customer experience for the existing as well as prospective customers, customer management will have to be more affirmative or upbeat as opposed to simply respond to the customer feedback.

Can Constructive Customer Management Impact Customer Retention? How so?

Catering to customer satisfaction, most businesses aim to deliver on the basic promises, such as speedy delivery, function as well as look and feel of a product etc. This, though a factor that ensures customer’s trust cannot actually be considered as the ultimate aspect to increase customer loyalty or customer retention rate.  This is where constructive customer management comes in handy. Let’s see how, here:

  • Reduce time and effort of customers: A constructive customer management will provide suitable and on the spot answers to current customers. If you can get access to all the solutions or answers to your post-purchase queries in one place, this helps to cut down the waiting time for the existing customers.
  • Make the process more convenient and efficient: If your business knows the value of constructive customer management, then for sure you will have in place instantaneous customer support via live chats, videos or other medium made accessible to those aggravated customers, who have been looking in vain for a particular product. On the spot response, could in a way work to pacify them and also be a factor that could influence them to remain loyal to a brand.
  • Access to a customized solution for various customer queries: Constructive customer management also entails analyzing a customer’s psyche entirely to know their preferences, their suggestions, purchase methods and so on, so that a business can enhance the customer experience by responding and delivering customized solutions, thus aiming to increase customer retention rate.
  • Constructive customer management ensures early rectification of error: Constructive customer agents know well that customers normally leave their tracks on social media and other online platforms. Hence, they aim to engage with the customers, where they can be found to see what really makes them tick. You could learn a lot from these interactions, such as how a particular customer would respond to a specific query or suggestion. It would tell, where you could be going wrong and how you could rectify it, thus helping you cater to customer delight.
  • Cater affirmatively to customer needs and delight them: Many businesses believe that customer care is only catering to the customer when they purchase a product or maybe to woo a prospective customer. But, a constructive customer executive realizes the importance of anticipating customer needs, so that they could deliver relevant content or service, before they ask for it, thus reducing time and effort required.  Such a service will definitely delight the customer.

Summing up  

Customer satisfaction is the key to increased customer loyalty and customer retention rate. A delighted customer will obviously return for more transactions with a business, and they are in fact the best promotion tool or referral for you.  Hence, you can go on to cater to each and every customer’s personalized requirements, promptly providing a hassle-free support via constructive customer management. This definitely will have an impact on customer retention rate.

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