Successful organizations evolve instead of change on a whim
June 14, 2023
The customer experience drives all strategic decisions for successful enterprises. Without the tools and operational strategies to support an exceptional customer journey, there is no path to customer retention or revenue growth. Knowing this, leaders measure the success of engagement strategies, the activities of their customers, and the success of sales conversations.
But the data can do more than help your team make incremental improvements to existing strategies. Workflow intelligence can help understand your customer accounts more deeply and open new opportunities for expansion and revenue.
Here’s how we’ve seen it happen.
Changing for customers creates turmoil for everyone
Customer expectations change every week. Their goals and operational needs shift to meet the demands of the market, as we all do. Enterprises, fearful of losing customers, tweak their offerings and product features to fit the new needs. While there’s nothing wrong with serving your customers’ needs, enough bending can change the shape of an organization altogether.
One way to combat this gradual slip away from your core offerings is with a granular understanding of your customers. In expansion conversations, for example, many organizations will set goals to increase conversion rates by a percentage. But trying to sell customers on a product that doesn’t serve them wastes time and resources. Not to mention creates a demanding work environment that leads to burnout and turnover.
Enterprises need data that includes not only performance metrics, but also workflow intelligence. By understanding which accounts respond best to the features and value you want to prioritize as a company, you can start to understand what costumers you should go after in the future.
Evolution creates value for customers and enterprises
What’s more, when enterprises understand what value they add to each segment of their target audiences, the can start to evolve workflows and engagement strategies to focus on what works.
Certain strategies are evergreen. Customers will always appreciate newsletters that keep them informed of updates, new product features, and plans for your company’s future. But we’re seeing more and more, customers want self-service and community-sourced answers for their product questions. In previous years, organizations used training and troubleshooting as a chance to engage with customers and add value. But today, reaching out to a customer success manager or customer service team member may negatively impact your customer.
Companies need much more accurate, granular, and comprehensive data to build engagement strategies that lead to sales in today’s market. Teams cannot use a one-size-fits-all approach to growing different audience segments. They need to build individual strategies for each customer type—an impossible task if you don’t have the right data.
Start tracking the right data to grow your customer base
In order to stay competitive, there are two solutions. Enterprises can either do more work, faster. Or teams can work smarter, targeting their efforts to the people who will get the most value out of their product. The second way may be more difficult up front, but it is the only truly sustainable option.
If you want to start tracking your workflow data and leverage it to find the best customers for your enterprise today and in the future, schedule a demo with Retain.ai. We’ll show you how you can start pulling intelligent insights within just two weeks.