5 Ways to Better Manage Customer Satisfaction Levels

Mar 15, 2021 | General

The ongoing success of any business, particularly those that operate online, is dependent on a user experience that satisfies a customer enough to keep them returning long-term. It’s the ability to achieve consistent customer satisfaction levels that increase sales and boost customer retention.

There are multiple ways of managing customer satisfaction and in this blog, we will examine 5 of those ways:


Understanding your customer personas

Knowing who your customers are, demographically and geographically; identifying where in the sales journey they’re at; and recognizing the challenges they face – you are better able to manage their expectations and provide a solution to satisfy their needs. A CRM is a great resource, giving you access to valuable customer insights so that you can monitor and better manage the needs of your customers, thereby improving the customer experience and achieving higher levels of customer satisfaction.


Making use of centralised data

Centralising all client related data and documentation in one place, with real time access thereto, allows your sales team to become more efficient in handling customer queries, with quicker response and resolution times – reducing customer frustration and improving the potential for making more sales and boosting revenue. A smart CRM platform understands the regulatory complexities of the Forex industry, particularly in terms of storing and processing customer data and documentation – and simplifies the process through the latest advances in technology and software so that interactions between customers and your sales team is enhanced, and customer service improved.


Improving operational workflows

Look to see whether any internal process or procedures are inhibiting the ability of your teams to work properly and see how these can be streamlined. Look for ways to automate workflows so that your sales team has more time to focus on important tasks like engaging with customers and seeing to their needs, improving customer satisfaction. Find out more about streamlining workflows with a Forex CRM in this blog.

Monitor communication through integrations

CRM software can usually be integrated with multiple other systems such as your website, Member’s Area, telephony system, live chat, trading platforms, back office/ERP, MailChimp, Clickatell, and many more, giving you the ability to monitor all communication with customers, be they through telephonic or live chat interactions with your sales or customer care teams, or through mass email/sms marketing campaigns. In this way, you can collect vital information as to the questions customers are asking, the difficulties they are facing, what they like or don’t like, enabling you to gauge the level of customer satisfaction your business is achieving, troubleshoot any problems that have surfaced, and make improvements where necessary.

Know your competition

Always know what your competition is doing to better understand why a customer would choose another Forex firm over yours. Analysing your competitors also helps you:

  • Better differentiate your selling proposition
  • Gauge your pricing and offering in comparison to others, and then modify in a way to help your business grow
  • Keep informed of current trends
  • Identify gaps in the marketing strategies of others which you can take advantage of