Many business owners think that getting a new customer is difficult, however, that’s the easy part.
The real trick lies in keeping them happy and loyal.
Customer retention is a massively important metric when you’re running a business, especially when you consider that acquiring a new customer could be anywhere from 5 to 25 times more expensive.
Plus, increasing customer retention rates by as little as 5% could result in up to a 95% increase in profits, as the Harvard Business Review notes
This is where keeping a running record of every single interaction with a customer using WORKetc’s activity stream comes in handy.
And, as healthcare firm Wound Care Advantage found, it’s what would be key to helping them save time, generate more revenue, and maintain customer loyalty.
Falling Through the Cracks
“We have 20 employees who deal with clients on a day to day basis,” explains Christina Le, Wound Care Advantage’s Chief Nursing Officer. “Each employee is responsible for logging the information and following up as needed.
“The old process took around eight hours on average. This includes documentation, calling, review, and completing any and all necessary tasks at hand.”
Here’s how their old process went:
Another big issue for Wound Care Advantage, beyond the time it took to complete the process, was tracking all that information they enter.
Entering data was easy, but finding specific information, especially weeks or months down the road? That was a different story.
“We would track our activity in emails, Google Docs, and files,” Christina explains.
“There were times when we would lose track of documentation because we were not tracking them efficiently.
“Retention info would sometimes fall through the cracks.”
Activity Tracking Made Easy
When Wound Care Advantage implemented WORKetc, the process steps mentioned before remained largely the same.
The biggest change was in that fourth step: tracking everything they did for their clients.
Instead of having to spend hours searching through inboxes and Google Drive folders for client and business critical information, they’re now able to immediately attach emails, call logs, and other important files to a contact’s activity stream in WORKetc.
This allowed them to quickly get a clear picture of everything they’ve done for a client; every project completed; every support ticket resolved; every email sent and received.
If a customer, for example, calls to follow up on an email they sent three weeks back, they can just scan and filter their activity record to know exactly what they’re talking about.
There’s no need to keep asking the customer with the same old questions that they answered before; it’s all right there in the activity history.
Where the old process used to take over eight hours, simply being able to automatically record and track activity as they work has cut the process time to just two hours.
And by shaving six hours off their old process, each team member is now able to assist up to three additional clients per day.
Christina estimates that one completion of the process amounts to $100 in revenue, so instead of bringing in just $100 worth of revenue in a typical eight-hour workday, each employee can now bring in up to $400.
With 20 client-focused employees, that means the company could earn up to $1.44 million in extra revenues per year.
More Work Done, By More People
Christina further notes that with all business-critical data now being kept in WORKetc, they’ve been able to greatly expand the breadth of the work they’re tracking.
Now, instead of just the 20 employees that deal with clients on a day to day basis, they have over 50 using the system to document and track their work.
In addition, they’re able to automatically record activities as they go along their work, meaning they don’t have to get bogged down with data entry.
“WORKetc has allowed us to track everything we do for and see exactly what we are worth to our clients,” says Christina.
“It lets us show the clients that we are doing everything we can, plus by using templates we’re now able to reproduce anything for another client.”
Wound Care Advantage can now help more clients, while having all the information they need to keep their existing clients satisfied available at their fingertips simply by using WORKetc.