“Why Business Infrastructure is the Key to a Great Customer Experience”
Written by: Alicia Butler Pierre
Customer retention is an undeniably critical component of long-term success.
For instance, it’s 5-25X more expensive to acquire a new customer than it is to retain an existing customer. So if you don’t focus on having high customer retention, you’re constantly wasting time and money seeking out new prospects.
Additionally, customer retention can greatly impact business revenue. In fact, a mere 5% increase in customer retention can increase company revenue by 25-95%.
All of which is to say: Customer experience matters.
And chaotic growth, high employee turnover rates, or a poor customer support experience can all contribute to negative customer retention.
Fortunately, there is a way to mitigate these risks and ensure your business grows effectively and sustainably. That solution? Business infrastructure.
In this article, you’ll learn what business infrastructure is, how to start building it, and what it looks like. Let’s dive in.
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What is business infrastructure?
Business infrastructure is an operating system that links an organization’s people, processes, and tools or technologies to ensure that growth is sustainable, repeatable, and profitable.
When some people hear “infrastructure”, they think of transportation.
Transportation infrastructure connects roads, trains, ships, and airplanes to efficiently move people and goods around.
Similarly, business infrastructure connects the operational components necessary to keep an organization running consistently, with minimal downtime.
It provides a foundation for support during threatening moments by focusing on operations — the unseen back-office and heartbeat of any organization.
How to Build Business Infrastructure
1. What work needs to be done?
2. How is the work organized?
3. Who will do the work?
4. How is the work performed?
Read the full article:Why Business Infrastructure is the Key to a Great Customer Experience
Source: https://blog.hubspot.com/service/why-business-infrastructure-is-key-to-customer-experience