3 Pillars of Profitability in Services Industry with Cloud ERP Software
In a climate where the business and professional services are constantly under pressure to do more for less, service organizations have to be willing to adopt new ways of working in order to meet demand, or they may risk losing clients to a competitive service provider who has already found a way to do the same work quicker and cheaper.
With that in mind, we’ve built our Cloud ERP software products and solutions around three “pillars of profitability,” designed to maximize your impact with clients and grow your business.
There’s a direct correlation between customer loyalty and the bottom-line. It’s been shown that a satisfied customer is likely to pay more for the same service as a new customer, and is also more likely to refer your service.
With clients having instant access to share positive experiences (and, yes, negative ones, too) on social media platforms such as LinkedIn and Yelp, that free endorsement can be quickly translated into measurable growth.
Here are a few must-do ways to cultivate that relationship with your customers:
Keep it a two-way conversation. Listen to what they are telling you and uncover what they may not be saying.
Understand their needs. There are always ways to serve them that you have the opportunity to mutually discover.
Under-promise and over-deliver. Complete the service on or before the due date and on or under budget.
This is just good, common-sense “people skills”, but one thing that can help to maintain satisfied customers is by keeping a good CRM (customer management system), excellent time management systems and top-notch billing procedures.
Learn more about Acumatica products:
Excerpt written by Ray Rebello and can be found in full at https://www.acumatica.com/blog/3-pillars-profitability-services-industry/