As the UK is slowly coming out of lockdowns and is met with “Freedom Day” on 19th July 2020 - businesses are implementing new strategies from their Salesforce CRMs to drive sales growth.
We can look back on history and see how Starling Bank was born out of the financial crisis of 2008. Its founder and CEO Anne Bowden used her experience of working in banking during challenging times to launch the digital bank in 2014.
And during this pandemic last year, we also saw the banking industry innovating and building resilient customer relationships. Like many other industries they have had to adapt, change, and launch new products, and of course be there for our customers throughout.
So where does the UK economy go from here, and how should leaders continue to build resilience with their existing customers whilst growing and acquiring new customers.
Starling Bank started building resilient customer relationships by focusing on serving all customers, both new and existing. The bank’s “Bounce Back Loans” for businesses, for instance, were designed to get money to businesses very quickly. And Starling made sure that they were available to all business types and sizes.
“It’s not just been about keeping existing businesses alive, there have been people just starting out and founding new businesses.”- Helen Bierton
In the thick of the pandemic, Starling Bank recorded its first profits last year. Its customer base also grew from one million to over two million during that time. Building resilient customer relationships is at the heart of what the bank does, Helen explained.
Essentially, what we all can learn from Helen’s experiences is that you have to have the trust to rely on technology for your CRM development. And having resilience in your platform and design is incredibly important to be able to continue to serve your customers.
And so how should business leaders answer their changing customer priorities?
Well, the first step would be to look at the frequency at which your business products are sold. By looking at your digital commerce - your company will be able to analyse and research products that customers place and understand how often they buy your products/service at their convenience.
To drive frequency, you need to use your data to understand your customers and their buying behaviors.
Once you do, only then are you able to strategie on how you can influence “repeat purchases”. Here are some of our examples on how to drive engagement:
For B2B businesses, addapting a “subscription based buying model” is a fairly easy way to ensure “reliable” and “repeat” ordering. This of course equals to conscience and thus higher revenue.
Customers also love it because they can make one buying decision and get a recurring fulfillment and payment option. Automation adds predictability for customers, and helps your business more accurately forecast revenue.
Loyalty programs encourage repeat business and reduce customer churn. Buy-and-earn or learn-and-earn programs incentivize customers to earn rewards that they can redeem for products and services. This may include transactions or interacting with educational materials that boost customer engagement.
To build resilient customer relationships, start to look in terms of volume and demand. Salesforce CRM has played a huge role for businesses to adapt and personalise their digital storefronts to each individual one of their customers.
Start building your resilient customer relationships!
That's why at Savant Technology Recruitment we have partnered with CloudGaia.
A platinum Worldwide Salesforce partner - with more than 10 years of experience dedicated to building digital solutions on the Salesforce platform. Our partners team of cloud experts, developers and product support specialists has extensive experience working with Salesforce cloud platforms and APIs. They can provide professional service for all Salesforce.com products as well as Technical Architecture and Integration of Data and Systems.
Our strategic partnership allows our customers to find talent within specific areas and markets that business leaders typically do not know where to find top talent. This initiative alliance has helped large and SME firms to be connected to candidates that have been technically assessed to bring high level top talent in the ecosystem.
Through our partnership, professionals have been introduced to our partners who will put them forward for an interview.
To find out more about how our partners have supported our customers and in turn help you with your recruitment needs, please do not hesitate to contact us via firstname.lastname@example.org or visit us at www.savantrecruitment.com