Boost SME success by focusing on service and value delivered – not price
Operators that focus on price for SME customers are missing an opportunity to enrich customer service and experience – and to secure lasting value, not only for their communications business but for the people that matter – their customers. Give them something that helps their business to solve real problems and win their loyalty.
According to Analysys Mason, a research and consultancy firm, price is not the main factor influencing customer retention in the SME market. This may surprise some operators who fail to get to grips with the needs of the majority of SME customers, choosing in many cases to simply regard any firm with 10 or fewer employees as just another set of consumers.
As such, they do not make real efforts to deliver more than a keenly-priced bundle. But, as Analysys Mason notes, pricing isn’t the reason why customers churn or remain. In fact, according to the survey of more than 3000 businesses across 10 countries, customer service and coverage are key. The ability to serve customers effectively and to ensure that they stay connected matter.
So, the notion of attracting SME customers with simplistic offers based on pricing simply isn’t good enough in today’s highly competitive markets. We’d go further. We’ve seen many of our customers with an SME focus win awards and gain consistently high rankings in comparison indices – they do so, not only because they offer excellent customer service and coverage, but because they do more to understand their needs and problems.
They achieve this by providing enhanced service solutions that help even the smallest businesses achieve greater efficiency in how they manage and run their communications. Instead of treating a company of, say 10 people, as a collection of individuals with separate accounts, they seek to unify the packages and add management capabilities, so that companies can coordinate inbound communications and add features like presence and status to indicate availability to colleagues.
These features help companies to ensure that more calls are answered efficiently, that fewer are missed and that employees can organise their activities through teams and collaboration to share responsibilities.
It is these features that create a better experience, supported by close attention and support from the provider. While price matters, companies that adopt such solutions see much more value than simply saving money – they see and benefit from solutions that save them time, help grow their business and more effectively manage customer relationships.
All of which adds up to an attractive proposition for which business users will pay. Once again, research confirms what we already know – even the smallest business can secure value from the right solution. It’s time to stop treating small business users as another form of consumer. Instead, give them something that contributes to their business and which eliminates daily hassles and pain points, such as missed calls. It’s a better way to build a business than to constantly focus on price.
If you want to know how to do this and to learn from real-world cases, then you should talk to us. We’ll help you identify common business problems and show you how to solve them, cost-effectively, so that you can build an SME business based on value not price.