Candio helps optimise digital transformation journeys by providing white-label digital services to over 50,000 technology and telecom resellers in the UK. Working with this number of businesses, the need to regularly monitor the churn rate is critical to our business.
Through experience, we know customer churn is often the result of poor customer engagement. It’s the term given when customers abandon your company, whether it’s the end of a contract or any point during their tenancy.
As an industry, telecom resellers and vendors work hard to ensure that a customer can’t just change from one supplier to another without giving any notice - ensuring an agreement is in place to confirm their commitment.
There isn’t anything you can do to save a customer who has already made up their mind and has essentially moved on without any notice, but that doesn’t mean you shouldn’t be given a chance to try and keep them as a customer. Eliminating those moments is key to ensuring you retain the time and money you’ve invested in your customers. Below we have highlighted the three lead causes of churn and how you can prevent them in the telecom industry.
Laying the right foundations:
A customer will gauge what it’s like to work with your business during onboarding. From their perspective, they have invested in a new telephony proposition to enhance the way their business communicates; the last thing they want is any issues arising with the onboarding process.
Iron out your onboarding process and make it mandatory by implementing a project management tool. By following a process, you can prioritise each communication and keep your customers in the know. Adding a self-service option can also be beneficial to enable customers step-by-step guides and video content.
Building a relationship:
The key to building a solid relationship with your customers is to communicate with them frequently – making them feel listened to and comfortable enough to pick up the phone and give you a call. Ultimately, replacing an old-school business relationship with a newschool personal relationship.
Having regular contact with all key contacts and not just decision-makers to form a broad company-wide relationship. Ensure you schedule quarterly business reviews to stay on top of things and identify areas that require attention. Follow up with customer support tickets surveys to further support their needs, be proactive with customer interaction, and contact them when it drops.
Issues are inevitable within telecoms, but the key is to make sure you’re on hand and that there is a fix in sight.
Offering a self-service machine that can automate the answers of FAQs before even reaching the support team. The tickets then submitted should be monitored through KPIs to ensure a constant improvement process. By monitoring the statistics, you can identify common issues and prevent them from happening in the future.
Reach Out Proactively! If the only time a customer hears from you is when you send them an invoice every month, you’re doing it wrong!
Proactive outreach shows customers that you care about them. It tells them that you’re invested in them getting the most out of your service. The best kind of outreach should also relate directly to the customer’s use of that service. You may, for instance, contact customers who aren’t using a specific service feature with a quick reminder about the features and benefits, helping customers get more satisfaction from your product.
At Candio, we understand the struggle of customer care calls. We know it can be a mundane process of asking if everything is ok. Talking to many telecoms partners every day, we understand the challenges of differentiating your propositions to offer new technology that creates an opportunity for both the reseller and the end-user business. The Web Listings and Website Optimiser white-label services provide digital transformation solutions that create great conversations with your customers.
Contact us today to unlock your next recurring revenue