A revolution is taking place. One that might have very similar roots as the all-so-famous Revolutionary War. But what does this mean? Well, in many areas of the country and the world, large telecommunication conglomerates have the monopoly on their telecom industry. Customers have only a few choices in their television, Internet, email, or phone service provider. In any way that matters, these telecommunication companies are essentially king.
So how are small and medium sized telecom businesses and newer technology driven technology driven telecoms supposed to convince customers to riot and switch over to them? Well, as you yourself may have experienced or heard from others, smaller customers don’t always feel well-cared for by the kings, and while they might provide great prices at first (this usually changes later), many people have become frustrated and disenchanted with their unapologetic treatment of customers.
This alienation of customers leaves an opening for SMB telecoms. While SMB Telecoms might not be able to match the pricing of the telecom kings, you can provide something that people and business are ready to revolt for, a personalized customer experience.
How RingCentral personalized their customer experience
RingCentral delivers cloud business communication solutions with a relationship focused sales approach. The success of their business depends on keeping every interaction extremely personalized. In their blog, RingCentral’s Sales Organization: Building Success by Building Relationships, they emphasize how building a relationship with customers is a necessary part of their business model.
To keep to this relationship focused approach, from the first phone call RingCentral starts their interaction on a positive note, which they believe can make all the difference in fostering a fruitful relationship. If your sales team demonstrates how they care for their potential customers and understand their pain points you can start to establish a relationship that builds to a sale.
For RingCentral this often pays off when pursuing a company that has more than one location. RingCentral noted that the previous fostered relationship then opens the doors for a client to test out their product in one location, and when it succeeds, the company often revolts against the previous telecom technology and fully implements RingCentral’s technology instead.
RingCentral claims that this success is “a direct result of our relationship-building efforts.”
And because RingCentral had proof of the power of a relationship focused sales approach they understood what the next step was to their approach – referrals. With small and medium sized telecom business increasingly focused on customer relationships, why not grow your business through mass personalization by incentivizing the customers who already know how valuable your product is? RingCentral thought along the same lines, and that’s why they implemented Amplifinity’s referral software to make their customers their best sales force.
The next step to relationship building sales – referrals
Referral software is the next weapon to spur the masses in the customer relationship revolution. Referral software mobilizes the customers you already have by incentivizing them to become advocates for your service or product. By empowering referrals with referral software you extend the trust between an advocate and their network of family and friends to include your business. The result of this is a drastic increase in your quantity of quality leads.
In fact, with referral software:
- Customers are 400% more likely to buy (Nielsen)
- Leads convert 4X better than marketing leads (emarketer)
- LTV increases by 16% (Harvard Business Review)
- Conversion rate from referral to purchase is 36% (Amplifinity)
- Churn decreases by 18% (Marketing Business Review)
Discover your personal referral program ROI with the ROI calculator now!
Questions? Email me at JEdmondson@amplifinity.com