There isn’t an area in the economy today where customer service is viewed as irrelevant to a business.
Every company and organization – regardless of industry – realizes that a satisfied customer is a repeat customer and a dissatisfied customer has plenty of options to take business elsewhere.
In fact, customer service is so vital that many companies recognize if they don’t get this part of the equation right, they won’t be in business long, at all.
Finding New Customers
Right alongside platinum customer service in importance is the competition for new customers, something that has propelled wide adoption of data acquisition and analytics in order to deliver greater insights into customer needs and wants.
This competition to find and keep new customers has helped to create a unique type of consumer financial business, in which retailers are provided with strategies aimed at generating customer satisfaction by making it easier for customers to shop with them.
Private label credit cards and loyalty programs along with business credit products are designed to engage consumers when and where they shop, whether in-store, online or from a mobile device.
A Leader with a Common Problem
Synchrony Financial is among the largest providers of these services and products in North America with more than 80 million active customer accounts and over 140 billion USD in financed sales; the company is a recognized leader in the retail credit space.
Even a leader needs help to remain at the top of their game and when Gerent was asked to consult on the company’s data acquisition and analysis processes, it was apparent that several problems common to many firms existed within this one, as well.
The company has a number of divisions, some of which deal directly with consumers and some which deal indirectly through retailers across North America and it was anxious to drive greater efficiencies in its sales and marketing efforts as part of an aggressive push to increase engagements over a two-year period.
Gerent’s examination of the company’s data acquisition revealed that:
- Much of its customer information was siloed, uncoordinated and disjointed.
- This led to numerous and repeated contacts with the same consumer and the company’s customer service took a hit as dissatisfaction levels rose.
- Much of this repetitive and annoying contact was due to the fact that multiple records existed for the same customers and prospects with no way for the marketing department to determine which records were the most current.
While the company had Salesforce products on site, the marketing applications in use were standalone and not Salesforce-integrated.
The Gerent Solution
Gerent and Synchrony Financial partnered on a number of steps.
- First, was the implementation of Pardot. The strength of this Salesforce products lies in its ability to automate the marketing and sales engagement with the goal of increasing leads and deals while providing the means to measure marketing success.
- Gerent developers created a web-based service solution to integrate data with Pardot as well as dynamic content and user behavior tracking to enhance engagement with a lead, a critical element in helping the company attain its engagement goal.
- Detailed reporting and dashboards would provide senior management with clear and relevant content.
- Email targeting was enabled in the company’s business unit, giving Gerent’s client new and effective ways for the Marketing teams to draft and implement drip campaigns.
The net result was an increase in customer adoption and engagement, a result that went directly to the heart of the company’s business plan.
With its new Gerent-designed solution, utilizing Salesforce products, Synchrony Financial has cleared an enormous hurdle to future growth in its organization, erased a serious customer service problem and equipped sales and marketing team with powerful tools to successfully compete for new customers.