Acquiring a customer isn’t as easy it sounds. The process of acquiring a customer begins with understanding the market to know the potential customers, the company’s needs, whether a product or service meets their expectations, etc.
Retention of a customer refers to various strategies that help a company keep its customer base. Retaining a customer for an entire lifetime is hard work. It is about exceeding and meeting the customer’s expectations and adding value to your brand to increase and sustain their loyalty. It is also delivery of a high standard of customer service rather than focusing on maximizing profits.
Coupling customer acquisition and retention with e-learning is advantageous. Let’s learn how:
- E-learning helps the company educate its prospective customers with its products and services. Acquiring a customer can take months or more as several people at various levels need to be educated and evaluate the products and services on offer, before taking a decision. To cut short the sales cycle, a web-based tutorial about the product or service offering helps.
- As mentioned earlier, more than one person is involved in the decision-making process when considering buying new products and services. E-learning enables customization for people involved at each level. For example, the e-learning sales pitch to a CFO (Chief Finance Officer) can address a different set of concerns when compared to another top level executive. An e-learning program can have several modules or data repositories designed to meet the needs and address the concerns of various stakeholders in the decision-making process.
- The people involved in the purchase are top-level super busy managers. Web-based information enables them access information on various products and services being offered at a time convenient to them.
- Information on a company’s products or services, if available online, is a great resource for salespeople, resellers, etc. This great backup helps various stakeholders access information as and when needed.
- Having information-based online training modules ramps up new hires or trainees knowledge, based on the products and services of the Company. The new hires or trainees can do a quick knowledge transfer and get started on the sales process.
- If the product or service has been updated with the latest features or functionalities, one has to just upload the same and each sales person, new hire or trainee immediately becomes aware of the change.
- E-learning makes it easy to track the progress of new and prospective clients. The Company can track its sales progress through the e-learning module, print reports, figures and more with just a few clicks.
- The online learning modules make it easy to collect data on its competitors, upload their sales activities and figures and much more. This data can be published to various prospects to show the difference between yours and your competitor’s offerings.
All in all, a web-based e-learning module is an efficient and cost-effective resource for customer acquisition and retention.
Do share your thoughts on the same.