How to improve client retention
The importance of the customer experience is increasing all the time. Research suggests that 64% of leaders charged with customer experience expect to have larger budgets for these initiatives.
Moneypenny helps thousands of businesses optimise their customer experience and we’re often asked what the key considerations are for creating a world-class CX. Some areas to look at are:
Solve frustrations one by one
Once you understand the customer journey, you can identify where frustrations or problems occur. Prioritise which has the biggest impact on customer satisfaction and tackle those first. So, if the time it takes to produce quotes is a problem, for example, then look at how this process could be improved – perhaps call handlers could be given the tools to quote over the phone or a quote calculator could be added to your website. Solve frustrations individually and let your clients know when you’ve solved them. It’s also helpful to put a continual review and improvement programme in place.
Consider new channels and customer service tools
New tools are becoming available all the time. Whether embracing social channels such as TikTok, Threads or Instagram to help inform clients, using tools like live chat to give a business a personal 24/7 presence online or harnessing the power of AI to streamline your processes – technology can help even the smallest of businesses improve the customer journey. Other tools include easy payment portals, dedicated service helplines, outsourced call handling, chatbots, AI summarisation and behavioural analytics.
Think omnichannel
Positive customer experiences require consistency. By thinking omnichannel, professional services businesses can present a consistent brand experience across all customer touchpoints – whether online, over the phone or in your office – and allow customers to choose how they interact with and buy from your business. This joined-up and streamlined approach enhances the customer experience and can help reduce operational costs. So, if your firm is advertising its litigation expertise and the call to action is to visit a webpage, you must be sure the homepage supports the ad’s messaging and allows people to click to book an appointment there and then online.
Reward loyalty
Consider how you can reward client loyalty and encourage referrals. Perhaps it’s a simple discount if people buy one or more of your services, a donation to a charity of their choice each year or a quarterly prize draw for those who have introduced you to a new client. Client loyalty is earned and should be actively encouraged within the customer journey.
Personalise contact
Sending generalised marketing messages to your database has little to zero value. However, personalising contact will generate a more meaningful return. In turn, this will improve the customer experience and, therefore, the likelihood of retention. But note, this requires far more than addressing clients by name; it involves tailoring interactions to suit individuals’ needs, preferences and behaviours. For example, this might be tailored push SMS messages, outbound calling or email marketing content tailored to clients.
Cross-sell
All businesses can unlock growth from an existing client base by focusing on cross-selling. Highlight relevant products and services based on a client’s needs and show the total value of your expertise.
Complaints handling
To improve the client journey, you have to consider complaints handling; it's how matters are resolved that makes clients feel heard and organisations improve. However, data from the UK Satisfaction Index 2023[8] suggests that UK businesses still aren’t doing enough to improve their complaint-handling practices. It reveals that 48%[9] found it took longer than anticipated to resolve a problem, an increase of 11%[10] on the previous year and fewer businesses responded positively to complaints than the year before. Poorly handled complaints have dire consequences – they damage reputations, lose clients and impact the ability to win new ones - especially if there have been negative online reviews and word of mouth. In some sectors, poor complaint management can also open the door to wider regulatory scrutiny.
Keep a firm eye on accessibility and response times
Make it easy to get in touch. Poor accessibility creates frustration and can lose customers. Pay special attention to how responsive and available you are by looking at call handling practices, for example, how quickly calls need to be answered or messages returned and how responsive your business is online (with live chat, chatbots and enquiry forms) and social media. Set customer service standards, share them with clients and stick to them.
Outsource customer care
Choose an outsourced provider, like Moneypenny, to deliver positive, lasting impressions for clients. This ensures calls and live chats are handled efficiently, with empathy and to the highest professional standards. As far as clients are concerned, we’re part of your team.
