We get it. Digital can be frustrating. Not least because everyone has an opinion, and there is no shortage of consultants, technical ‘wise guys’ and other flamboyant futurists happy to wax lyrical about the virtues and philosophy of digital! But what if you were to ask a leading panel of digital experts this question: “What are 10 things I can do RIGHT NOW?” So, we did and here’s what we found…
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- Not For Profit
Cast your mind back to the early noughties. Did you have any idea what a podcast was? Probably not. If you’d typed ‘podcast’ into Google on 1st October 2004 you’d have seen just 2,750 hits. But unlike shutter shades and bootcut jeans, podcasts were in it for the long haul.
- Topic:
- Visitor Attractions
In a recent article, we introduced the concept of customer churn and how to reduce it. Having dangled the carrot of customer churn, we need to give you the next layer of knowledge: how to understand your customer churn.
A quick recap:
Customer churn is the number of customers who stop using your business in a given time frame, stated as a percentage.
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- Finance
At the end of 2019, we looked at some of the key trends in digital fundraising. Seven months and a coronavirus pandemic later and we wanted to check in on some of these innovations – taking a closer look at the rise in cashless donations, and the impact this new technology could have on the charities that receive them.
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- Not For Profit
Customer churn, or customer attrition, is the percentage of customers who stop using your product or service during a set time period. It is most frequently understood in the context of subscription based products or services.
Getting a handle on your customer churn, and reducing it as much as possible, is extremely beneficial. It’s easier to keep a customer than find and convert a new one. It’s cheaper too. Just a 5% increase in customer retention can increase profits from anywhere between 25% and 95%. It pays to give this some attention.
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- Finance
Implementing a new CRM system brings incredible benefits. Those benefits predominantly focus on sales, marketing and customer service, but they impinge on every aspect of enabling your business to be efficient, productive and effective. From closing deals more quickly to effective cross-selling, it all hinges on your CRM software.
It’s painfully old research, but the sentiment remains 55% - 75% of CRM implementation projects fail. Ouch. All of a sudden, those enticing benefits can feel tantalisingly out of reach. You stop and realise the enormity of taking on a CRM project and wonder if, amongst actually running your business, you have the time to make yours part of the more positive statistics.
That’s why the best time for a CRM project is now. Whilst COVID-19 has put the brakes on businesses around the world, one thing many have that they don’t normally is time. Implementing a new CRM solution takes time: between 6 weeks and 4 months, and then some more for user training.
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- Finance
“If giving is a good experience, donors will do more of it. If it isn’t, they’ll soon stop.”
The UK has a long philanthropic tradition. Undoubtedly, coronavirus has taken its toll. But with current giving levels on par with 2019, there is hope! That doesn’t mean you should be complacent. The true economic impact of COVID-19 is unclear. With that, and Brexit just around the corner, your organisation needs to do everything it can to safeguard its income increase donations from new, lapsed and long-term donors. How?
Engagement is a great place to start.
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- Not For Profit
Sales and marketing should work together as well as bacon and eggs. Instead, they tend to act more like chalk and cheese. Yet a LinkedIn survey revealed that 58% of sales and marketing professionals report that collaboration delivers improved customer retention. When it comes to customer relationship management, creating a harmonious relationship between sales and marketing first is essential.
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- Finance
In the dash to shift many workers from office-based to remote, have we ensured their (and their loves ones') security as well as health and safety? Have we ensured they have everything they need to do their jobs as efficiently and productively as they would be in the office, or just made sure they can work any way they can? For those whose roles are central to customer relationships, we need our remote teams to work as a well-oiled machine more than ever before.
Flexible working isn’t just a by-product of Covid-19. It’s been a growing shift for quite some time, which has now gained momentum. With that, we need to ensure that our customers still experience positive, insightful and efficient processes, without jeopardising the wellbeing of our workforce.
Now that remote working is bedding down into a new kind of normal, it’s time to take stock and look at how you can give your remote workers the visibility they need to give customers what they expect.
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- Finance
Remember the days when you could chat to a colleague as you walked past their desk? Or corner them by the coffee machine?
Good times.
Today, of course it all works a little differently. But thanks to the wonders of modern technology, homeworking is now remote working – and there’s no shortage of tools to help you stay connected with your colleagues. A few weeks ago, we’d paid homage to some others, and this week we want to shine a spotlight on our own. Access Charity CRM (thankQ). The perfect accessory for any remote fundraising team. Why?
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- Not For Profit
