You will be surprised to know that it costs 25 more times to acquire a new customer than to retain an existing one. This is why more and more businesses are now focusing on increasing customer satisfaction, but not everyone is getting success in this field. Improving customer satisfaction might sound very easy, but it is one of the most complicated things in the industry and that’s why only a handful of businesses can achieve it. Well, for giant businesses, there are lots of options for working on customer satisfaction but when it comes to small businesses, then EDI solutions look like the best option.
Electronic Data Interchange is basically the computer to computer transfer of business documents in a standard electronic format. EDI has slowly become one of the most popular and admired data exchange medium as it offers many advantages. Customer satisfaction is one of the most important reasons why businesses have started moving to Electronic Data Interchange. But still, many businesses agonize that abandoning the paper-based data exchange format and pouring money for shifting to the electronic format is a good decision or not.
Why is the manual process not effective for keeping customers satisfied?
If you look at the cost involved in rectifying the errors and redoing everything related to data exchange because of manual data transfer, then the price of shifting to EDI will start looking worthwhile. Processing manual orders are applicable for your business only when you are dealing with two or three orders a week. But, when you start getting hundreds to thousands order a week, then keeping your customers satisfied through the manual process, will become very complicated. This is why EDI software for small business is the best option.
How can EDI help you in improving customer satisfaction?
The three main things that customers want from your business are a good product, economical price, and timely delivery. If you fail to give products to customers where they want and when they want, then the chances of your success will start shrinking. EDI solutions can act as a foundation for giving your customers what they want from your business. With the help of EDI, you will be able to increase the accuracy of your orders and boost the speed of the payment process. In addition to this, you will also be able to bridge the communication gap between your business and your customers. By improving communication, you will be able to keep your customers in the loop and let them know where their product is in the supply chain.
According to the Harvard Business Review, if a business succeeds in eliminating the human touchpoint necessary for human interaction then, it will be able to increase loyalty and satisfaction by many folds. All this will lead to increased profit and since customer satisfaction is directly linked to the overall growth of a business, your chances of success will increase
In the current era, EDI can give you a competitive as you will be able to keep your customers satisfied without putting much effort. By continuously providing a positive experience to your customer, you will also enhance your trustworthiness and reliability among the customers and that’s why EDI becomes more important for you. Businesses working with satisfied customers can earn 6% more profit that those businesses that don’t have a satisfied customer base.
With more effective, reliable, quick and accurate digital trading capabilities, you will be able to build a close relationship with your customers and thus, you will be able to increase your profit margin as well. So, just choose the right EDI software for small business and use it as a foundation for increasing customer satisfaction.