Satisfying customer experiences help build customer loyalty which, in turn, helps promote your brand. And these days, the digital integration between your systems and those of your customers has a huge impact on how satisfying those experiences are, and whether or not your customers remain with you. When your data integration process takes as long as six to 12 weeks of calendar time to complete and encumbers the resources not only of your IT department, but that of your customers as well, those relationships begin with a negative impression, and those accounts remain at a high risk of attrition.
Speed isn’t the only issue. Customers can become frustrated with a lack of visibility of your data, file, and document exchanges during the process. When that happens, they view it as poor service on your part, adding to the risk of them leaving.
Obviously, such developments can have a dramatic impact on your company’s revenue stream. When you’re losing customers due to poor service, you need to spend additional time selling to new clients just to replace churn. That means you have less time and bandwidth to expand your customer base and increase revenue. It’s the difference between struggling to stay afloat and working to move forward. Also, customers disappointed in your data integration will spread the word to other businesses, making them less likely to sign on with your company.
Reduce Churn, Focus on Growing Revenue
A self-service data integration process eliminates these problems by shortening the onboarding time by as much as 80 percent. That means your customers only wait days — or even hours — for their information to be onboarded, rather than weeks or months.
With a self-service data integration solution in place, your company will be more business-agile and thus able to ramp your existing customers onto new services quickly and easily, eliminating frustration and delays and keeping them delighted with your service — and sticking with you. And, with an onboarding solution that is completely scalable, you’ll be able to continue to serve your existing customers no matter how their needs may grow over the years. They won’t have to find a new provider of data integration solutions because you’ll be able to handle whatever they require.
Streamline Integration, Sell Additional Services
A complicated customer data integration process doesn’t just mean that your customers are delayed in getting the value they’ve been promised. It also means that it’s difficult for them to add new products and services. When growing your revenue stream depends on selling additional products to existing customers, you need the addition of those elements to be as simple as possible. But with traditional onboarding, the process is anything but simple. It takes weeks or even months of calendar time and ties up the resources not only of your IT department, but the IT department of your customer as well. And every product or service you add only complicates the process more. Upselling becomes that much more difficult, as does increasing your revenues.
On the other hand, companies that utilize a self-service customer data integration solution make the addition of new products and services a simple process that can be accomplished easily and quickly. Less applied effort on your end (and on the part of your data integration experts) means you can perform those upgrades much easier, with little delay. What’s more, that fast, simple, more positive onboarding experience means those new customers are much more likely to buy additional products and services from your company after seeing how smoothly the process works – and how little burden it puts on their own IT infrastructure. They’re willing to try new products and expand their relationship with you, which increases revenue.
That streamlined process (which also offers higher levels of visibility into the data exchange) makes customers more likely to stay with your company, as well as purchase additional products and services. And without having to worry about customer churn, you can focus your sales efforts on landing new accounts – who will have heard positive reports from your satisfied customers – adding additional funds to your revenue stream. It’s easier to grow existing customers than it is to add new ones, but with the right onboarding solution in place, you’ll be able to do both.