Every single buying action is an effort to solve a problem. That holds true in the brick-and-mortar world as well as the digital world. The way we shop may well have changed, but the shopping process hasn't.
No matter what we're shopping for, the buying process is about solving a problem. "My shoes are old - I need to buy new shoes." "I'm hungry - I need to buy some food." "I can't upsell my clients - I need to buy better retention tools."
Too many B2C companies tend to focus on selling the problem rather than the solution. We all know retention is the easiest way to improve your bottom line as a business, so telling you that you need to improve your retention isn't really that helpful.
What is helpful is a product or process that can solve the problem, i.e., improve your retention numbers.
Leads are an expensive commodity, particularly in areas like the financial services industry. Gone are the days of $50 leads. Getting someone onto your CRM interested in what your selling is expensive, and if your retention net isn't up to the job, your results will be significantly less than stellar.
We've helped dozens of businesses improve their retention, so allow us to blow our own trumpets here for a bit. At Antelope, we know how to keep your clients engaged with your product and more receptive to your upsells, be that additional deposits into trading accounts or simply upgrading what they've already purchased from you.
While your sales process isn't something we can comment on, we do know this. Retention starts as soon as a potential client hits your CRM. That might go against the grain a bit but bear with me for a minute on this.
Client A hits your CRM eager to buy what you're selling and with a credit card in hand. The lead sits around in your systems as the client's buying enthusiasm soon starts to cool. A few hours later, one of your sales departments contacts the client trying to make a sale. By this time, the client may well have forgotten about their initial action with your company, or worse yet, bought something from a competitor.
If you are lucky enough to get the first sale, the upsell becomes exponentially more difficult. The delay in contacting the client is exactly the same as ignoring someone who walks into a brick-and-mortar store to buy something. You've just made your retention process more difficult.
Contrast that to Client B. He hits your Antelope CRM, and the smart scoring system goes to work. Our Ninja lead allocation module will programmatically assign that new lead to the sales agent best suited to converting it to a sale.
This instant action makes the first sale as easy as it can be. There's no guarantee, of course, but if your sales agents are contacting leads when they're still in the buying mood and with that all-important credit card still in hand, the odds of a sale are in your favor.
There's a thing in marketing called the Zeigarnik effect. Named after Soviet psychologist Bluma Zeigarnik, it describes how people are more likely to finish something they've already started rather than start something new.
When a client starts a buying journey, they will be more likely to finish that if contacted when the Zeigarnik effect is still kicking in.
That's the power of the Antelope Ninja. The smart routing rules allocate all your new leads to the best converting sales agent matching the client profile. That could be geo-targeting, languages, time zone, or even product-based.
The retention process starts even before your client is a client. Ignore the Zeigarnik effect at your peril.
If you are interested in increasing your retention numbers, get in touch with one of our success managers and see what the Ninja can do for you!