Cvent Survey

Crunch Time: The Importance of Customer and Employee Retention

Friday, November 20, 2009 by Drew Northcutt
Back when the economy was flourishing and consumer spending was at an all-time high, many businesses were content with customers that were merely satisfied, not truly engaged.  Today, money is much tighter across the board, and these same businesses are realizing the importance of building strong and healthy relationships with existing customers AND employees.  Research shows that an organization's health directly correlates to how well they engage these two groups.

So how do you ensure your business is retaining clients and not losing them to competitors?  Perhaps the most important facet is providing exceptional customer service, and this level of service stems from employees who are passionate about their job role and their company.  They know that employee opinions are valued when management makes decisions. They are loyal, often times reccomending their organization when asked about their job.

Because these employees are guiding the customer experience, it is critical to keep them engaged.  Passionate and dedicated employees make for passionate and dedicated customers who are willing to purchase more and promote your business.  Companies who have such an engaged workforce are constantly collecting and analyzing employee feedback about their day to day experiences on the job.

In addition to collecting feedback from employees, it is extremely important to gain customer insights about their thoughts and experiences.  This information can help you make important business decisions, but can also help you to win back the favor of clients who may have had a recent negative experience.  Keeping a pulse on your client base to ensure high customer retention is simple and easy through the use of survey forms.

The most important thing to remember is that it is not the data alone that will help you to retain your clients and employees.  Being able to synthesize the information and make the appropriate adjustments is the key to improving employee morale and client satisfaction.

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