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ROI Concepts

Metaphor gives organizations tremendous opportunity to increase efficiencies, optimize processes, and better engage people – and most importantly, as a result of all of that, save money as well as increase revenue. Using some examples pertaining to prospects, customers, and partners, Metaphor can offer returns on investment like these:

The old adage that you never get a second chance to make a first impression holds true with regard to customer acquisition. Customers remember their earliest interactions with an organization more strongly than they remember efforts made by that company to keep them happy later. This means that it is absolutely essential to make the right impression and satisfy a prospect’s needs from the very first time they engage. Metaphor’s ability to embody core customer acquisition processes across any and every channel of communication means that prospects will receive high-quality, rich, and consistent service, and not be put in a position that they have to work to become a customer. From day one, Metaphor builds loyalty and satisfaction by giving prospects what they want, and making it easier for them to come on-board. Studies have shown that as a result, these satisfied new customers are 5 times more likely to recommend their new product or service provider – lowering subsequent cost of sales and increasing “stickiness” of customers, making them more likely to buy more both initially and over time.

Technology has made it easier and easier for customers to move from one provider to another, in turn making it more challenging to retain the customers an organization has worked so hard to obtain. Customers are also evermore demanding in the ways they expect a company to interact with them – over the web, over the phone, via social media, and more. If an organization can’t stay effectively engaged with their customers, they are sure to lose them to someone who will. Metaphor allows for customers to engage with an organization however, whenever, and wherever they want while simultaneously guaranteeing that the same information and processes are available in every medium. This lowers operational costs significantly because there are no more one-offs for each avenue of communication, and increases customer retention rates because customers are getting what they demand how they demand it. And, since it is considerably more profitable to re-sell, up-sell, and cross-sell to existing customers than it is to acquire new ones, the return on investment for driving satisfaction and loyalty is tremendous.

One of the most effective ways to expand the reach and capacity of a company is to have effective partnerships. However, just like with end-customers, partner channels are becoming more and more demanding in the ways in which they interact with one another, and they expect that their partnered companies will make it easy to engage. This means that a company looking to build partnerships must be technologically flexible, and make it easy to share information like sales leads, orders, fulfillment status, etc. Metaphor’s open, standards-based and easy-to-use integration technologies make it easier for partners to exchange information and business functions seamlessly and with confidence. As a result, partnerships become easier to create, manage, and operate, all of which makes them more profitable.

Resources

Key Resources

• A New Model for Customer EngagementLearn about the 6 steps every company needs to take for effective customer engagement.
• Customer Success StatisticsHow effective engagement helps you get and keep more customers.
• Special Technology Initiative?Tell us more about your project.