How Do You Increase Revenue?
Every Company wants to increase their revenue, that’s the easy part. The hard part is to know how to increase revenue efficiently. Obtaining new customers has become a significant expense for a company. Therefore, a cost-efficient company will maximize their revenue from their existing customer base.
This sounds easy enough, right? But, HOW do you maximize revenue from current customers? It begins with excellent customer service. Once the customer is satisfied with the level of service, the company should be actively communicating with current customers, with the intensions of strengthening the depth of the client’s relationship. When a company overcomes the challenge of creating depth and reinforces the strength of the relationship, the result is an increase in revenue per customer.
Customer communication is a key part of increasing revenue from current clientele. A satisfied customer will continue to be loyal, but how do you know if customers are satisfied? The best way is to ask them what they need from the products/service your company offers. Provide your customers with a means for feedback through customer surveys, focus groups, or outbound marketing campaigns. You won’t be able to accommodate every customer, but the effort goes a long way in the eyes of your customers.
Contact Centers of America has developed and branded Customer Connections, a new campaign strategy that will help increase revenue. CCA created this campaign in order for Insurance companies to increase revenue without the expensive cost of acquiring new customers. CCA actively reaches out to the current customer base giving exceptional customer service. CCA provides a means for feedback for our client’s customers which strengthens the communication and relationship. Once communication has been engaged and the relationship strengthened, the depth of the customer relationship is evaluated. When a company proactively communicates with customers, reinforces the customer relationship, and creates more depth and complexity, the result is an increase in revenue. For additional information on how to grow revenue through CCA’s Customer Connections pilot, please click the link to review the case study.
Case Study: Customer Connections
Business Case: Customer Connections
View from the Queue
Q: How do you deliver Exception Customer Service to each and every customer?
A: Chris Stovall, a CCA customer service representative, replied “One of the most important keys to great customer service is effective listening skills. By making sure that I’m listening to the customer and giving the proper feedback coupled with an outgoing, positive demeanor and sufficient product/campaign knowledge, I’m able to ensure that each and every customer has a pleasant customer experience and are exiting the call satisfied.”
Q: Is this campaign an effective way to strengthen communication with current customer base?
A: Surprisingly enough based on Chris’ experience, “most insurance companies are not in great relations with their customers. Times are EXTREMELY hard right now for consumers; ESPECIALLY home owners living in Florida.” The trend across the state over the past few years conveys Insurance companies are not covering certain areas or are doubling, even tripling premiums on their HO policies; this increases dissatisfied customers. Chris replied, “In times when you have a lot of unhappy customers, extending an extra arm (a service call), can be the difference of making or breaking a sales business. Communication is the key. Insurance can and SHOULD be life-long. From my professional experience, this campaign has INFINITE value because we are doing something that the competition isn’t. As long as a company’s product or service isn’t too costly compared to its competitors, going that extra mile to provide this service will put your company in a higher standing than the “rest of the pack”, in your customer’s eyes.”
The Eye in the Sky
Q: How did the first Customer Connections pilot perform?
A: Joey Cupo, CCA’s Director of Operations, replied to the success of the campaign by saying “Our Customer Connection Pilot Program was able to reach out to a large number of the existing customer base, which resulted in 18% of them being offered an additional service.” This pilot was cost effective and customer friendly and expanded into Q2 of 2012.
Q: Is this a strategy that other industries can use to increase customer revenue?
A: Joey agrees with CCA by saying “Yes.” This strategy can be emulated in most industries. We find that “it’s easier and less costly to sell to existing customers than to new customers.” So reach out to your current customer base through CCA’s Customer Connections Program and increase your customer retention, strengthen your communication, and generate additional revenue for your company!
Maintaining relationships with current customers is usually left up to the Sales Department or customer service team. Contact Centers of America’s Customer Connections program is strategic investment with a focused team to manage the relationships with current clientele. CCA has a very successful track record. If your company is interested in growing revenue with current customers using CCA’s America’s Customer Connections program, please contact our Sales Department today! 1-407-392-2277, Director of Sales, Matthew Mohen