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As we start embracing the shifts that COVID19 has brought upon, today, only those businesses that are quick to adapt and implement required changes can thrive.
Markets & economies around the globe have endured unprecedented challenges lately. As a result, most industries have had to experience painful cut in their profitability.
As work from home is the new norm for almost all organizations today, yet it is only a portion that have been able to successfully go full remote. In fact, most of the small & medium businesses due to their technical deficiency have had to experience full closure of business operations for a months.
Even those who have managed to go work from homes had to endure multiple obstruction and still have been able to do so only at a quarter or less percentage.
The most critical mistake that businesses tend to commit today is to hold back for the markets & economies to open up. This approach leads to losing your customers connect.
Businesses today, should proactively review their customer retention strategies, they must make extra efforts to be in touch with existing customers. Remember, like you as a customer, your customers are also enduring a difficult period. Hence, your efforts in connecting with them will result in higher retentivity and higher customer lifetime value (CLV)
As we wait in anticipation of the new normal, have you prepared your business to weather the COVID-19 storm and successfully come out on the other side?
Focus on existing customers:
Times like these is when life-long relationships are forged. Delivering consistent & superior services to your customers today will build trust and higher customer lifetime value (CLV).
Continual communication with your customers today is a key customer retention strategy that would most likely increase your retention rates.
Providing uninterrupted services and working closely with them will surely reap multiple benefits for your business during & post lockdown.
Working remotely continues to be a reality for next few months, your quality of support to existing customers will drive your brand and help position you better and higher in customers mind.
At worxpertise, our CRM (Customer Relationship Management) experts, having decades of global experience, work with you and support you in taking care of your customer interaction efficiently. We use our proprietary platforms to help you increases customer lifetime value (CLV) and multiply your ROI.
Efficient Supply Chain & customer experience:
Another crucial customer retention strategy today is to have a robust supply chain / inventory management system for your business. Having the right inventory at the right time ensures timely order fulfillment and increased customer happiness, retention and increased customer lifetime value (CLV).
U.S denim giant “Levi Strauss” has booked a 5% increase in 1st quarter net revenues to U.S 1.5 Billion and says supply chain and inventory management measures mean it is well positioned to weather the COVID 19 storm.
Getting your inventory levels in control ensures lower operating costs thus improving the overall health of your business. A smart supply chain and inventory management system increases your ROI and maks you much better equipped for handling uncertainties.
Working with Worxpertise, you can get an efficient supply chain & inventory management system. Using our proprietary software platform, you have real-time visibility of your inventory stock levels that facilitates updating any transactions or orders anywhere/anytime. Not only do you have a solution that takes care of your inventory hassles, you also get the benefit of having trained professionals take care of your inventory 24X7.
You could write to us to take the discussion forward by reaching out to us at email@example.com or +91-124-685-9200 (IND) / +1-315-203-9876 (US)
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