When you’ve been in business for nearly two decades, you see a lot. One thing we’ve noticed is new companies crop up anytime there are advances in technology. Every few months, there seems to be another group of new SaaS businesses, each eager to win customers and beat the competition.
As a provider of technology that has been in business for almost two decades, we’ve realized the value of forming long-term relationships with our customers to withstand the challenges of new competitors. Nurturing existing customer relationships keeps your customers happy, builds their trust in you, and maintains the partnership.
Over the years, Centreviews and our parent company, API Outsourcing has learned about remaining relevant in an always-changing industry. Read about what gives us staying power with customers today’s competitive marketplace.
Be Agile and Adapt to Deliver Value to Customers
Nothing stays the same, no matter what industry your business serves. It’s important to embrace those changes in order to make sure you’re giving your customers exactly what they want. This means staying in communication with your customers and listening to their feedback. If they request something, take it seriously, whether it’s a new feature, changes to existing functionality or an integration you don’t currently offer.
If you aren’t constantly working to meet their needs, someone will likely come along and convince them their offering is better and you lose a customer.
Long-term customer retention occurs when you provide more value year after year. Northwest Airlines is one of Centreviews initial customers.
The initial offering provided by Centreviews expanded from International billing to baggage tracking to several other functions over the years. Centreviews has been able to maintain its customer relationship with Northwest Airlines even through its transition to Delta Air Lines because Centreviews was deemed to be an essential function for them that delivered value and over the years Centreviews adapted and adjusted its offering to meet Delta’s ever-changing needs.
Building Steady Growth
The top reasons new businesses fail is that they do not have the right infrastructure in place to handle the growth or they forget about the customer. That’s why, we carefully plan every move we make, only taking action once we test the market and make sure it will support our growth goals and cash flow requirements.
If you want to remain in business for the long haul, expand with a purpose and measure the results carefully.
Nurture the customers that you have and make sure that you are meeting your customer satisfaction goals along the way.
Satisfied customers will refer you to other potential customers, which will provide steady growth to your revenue without additional marketing expense. Centreviews obtains many customer referrals. We solved a pesky receivables problem for Foley Family Wine. Delays in processing of discounts and generating the needed credit memos caused a cash application problem. Foley Family Wine satisfaction with Centreviews solution led them to refer Folio Fine Wine Partners to Centreviews to solve their problem with depletion allowances.
Stay Innovative to Remain Relevant to Customers
Remaining relevant goes beyond staying in touch with the upgrades your customers want. You should also constantly monitor your competitors and pay close attention to the features they’re offering and promoting. You may decide some of those features don’t match your own customer base and if so, that’s fine. The point is, you’re well aware of the options customers have and you’re updating your products to match the current landscape.
Centreviews has constantly monitored the ever-changing landscape of the technology industry and developed its Robotic Process Automation (RPA) to meet the needs our customers were having to match ACH payments with the invoices paid. Rosenthal and Rosenthal, a large finance and factoring company, worked with Centreviews to solve their cash application problem using our RPA offering to extract and match payment information from emails and websites that they needed to provide to their customers. The fulfillment of their RPA needs has expanded the functionality of Centreviews and is now opening new sales and marketing opportunities.
Staying Fresh to Attract and Keep Customers Engaged
Software providers realize the importance of improving user experience on a regular basis. This is done through new features that bring additional value to customers. No matter what type of product or service your business offers, it’s important to find ways to give your customers new features on a fairly consistent basis to ensure they remain engaged. This will also help justify any price increases you need to implement over time to finance the rising cost of operations. Centreviews focuses on the customer experience from the implementation process and beyond.
United Legwear started using Centreviews to capture and track their receiving documentation to support the recovery of unauthorized deductions associated with chargebacks. They were so pleased with the implementation process and the end resulting solution, they convinced a business partner to use the same application. Keeping United Legwear engaged with Centreviews resulted in them adding a new application for automated payables and then tracking of international shipping documentation. They continue to add new applications. As a business grows, it can be easy to forget that spirit of innovation its leaders had at the start.
By constantly finding new ways to satisfy its existing customers, companies can build long-term relationships with a highly-engaged customer base. When a business genuinely cares about its customers and takes pride in its products, as we do, those relationships often come naturally.