The customer is one of the most critical pieces of a business. To have a long-term successful business, it is important to have a loyal base of customers.

Client retention is a challenge for many companies in today’s competitive landscape because clients have many choices on where they conduct business. Leveraging today’s available tools to increase retention and satisfaction is key.

Technology continues to change the way organizations interact with their clients.

3 Customer Experience Trends in 2020

Customer experience is a top business priority in 2020, customer loyalty and building lasting relationships is increasingly critical to an organization. Here are three ways a business can satisfy clients and increase internal efficiencies.

1. Build Sustainable Relationships with CRM

When you acknowledge that retaining new customers costs five times less than seeking new ones, it really is a win-win situation. Customers expect companies to leverage technology as necessary to provide that better experience. Salesforce reports that three-fourths of customers are ready to switch to a competitor that provides a better experience and more than half of them have already started making that move.

It’s important to find out what matters to your customers — their goals, challenges, and preferences — at the end of every exchange and make sure your team employs a follow-up activity. Recording these notes in a Customer Relationship Management (CRM) system is important, so your team can pick up right where the last left off, creating a seamless customer experience.

A CRM can help you explore your client’s challenges, engage with relevancy to make appropriate recommendations and provide information that is relevant to their business interests at the right time.

2. Improve Retention with Content Services

Customer retention is directly impacted by the quality of customer service. Even with a CRM in place, providing exemplary customer service can still be challenging, especially when it comes to disconnected systems. Utilizing content services software, such as OnBase by Hyland, you can reconnect the dots within your organization, allowing you to focus on the customer. Content Services can increase retention by:

  • Providing visibility into processes
  • Make information easily available to better serve your client
  • Makes your systems work anywhere your client is
  • Increase your organization’s productivity

3. Technologically Driven Customer Experiences

There have been some fascinating technologies that have emerged over the last 10 years that have helped improve the interactions between client and business, and these technologies will only improve. Below are some of our favorites:

  • Artificial Intelligence: With the help of artificial intelligence tools, organizations can increase process automation and initiate conversations that are relevant to the individual customer. AI is improving customer support and improving decision-making capabilities through automation. AI helps the service team to provide proactive and actionable responses to customers quickly, improving the customer experience.
  • Data Analytics: 57% of consumers are willing to share personal data with companies, as long as they promise to send personalized offers and discountsaccording to a survey by Salesforce. With this immense amount of data gathered by businesses through various activities, it is important to analyze this data and delivering better experiences to their clients.
  • Chatbots: These virtual web assistants can fulfill a client’s request almost instantly, and are often programmed with a cheeky sense of humor. Chatbots are easy to deploy and can provide instant support via web, mobile app, or instant messenger.

LBMC Technology Solutions can help you put the systems in place to maximize your client experience initiatives. Looking for more answers? Contact us today, we’d be happy to help!