Learn how to increase the renewal rate of your clients' contracts
In addition to digital documents, contracts are part of the profile that your company carries. Ensuring that they are always renovated/updated is to prioritize management that concerns not only good functionality, but also with your own brand.
When it comes to renewing contracts, there are several factors involved — service efficiency, quality and comfort may be the main ones! For this reason, ensure that there is in fact a customer preference, is essential for the development of the market universe.
Among the benefits of contract management, there is a lasting partnership and an extensive network of possible contacts, competitiveness in the market and, as a natural consequence, better operational logistics in the corporate environment.
Below, Clicksign points out how the good relationship with its target audience for favor the renewal of contracts, provide tactics to liquidate competitiveness in the market and also highlights the importance of loyalty as a lever for your business.
Let's talk about the importance of renewing contracts
Have you ever stopped to analyze the real importance of contract renewal for your company? How do you control this need, the administration of each of your contracts and the impact that this generates on your business? O control of information, priorities, deadlines, and data it is a clear strategy that inhibits possible losses and offers an overview of the most appropriate resources on the premise of tracing the predominant interests of clients.
Shall we delve a little deeper into this?
Contract renewal strategies
First of all it is necessary that you keep in mind that there are various types of contracts with different characteristics, then, since each client also has their individualizations, it is necessary to observe the intention of each one, the duration of the strategy to be implemented and what levels of knowledge will be required. All of this assists in producing the ideal contract.
You already know that all contracts have start and end dates, but what interests us now is no longer the initial membership but the customer maintenance. Yes, it may be a new membership, but the most bureaucratic part is canvassing of clients in a diversified market has already been overdue. Making him choose not to enter the sea of possibilities again is your mission: to make him loyal.
But how? We have interesting tips related to Business Intelligence of your company:
1. Adopt monthly payments even on long-term contracts
One of the main ways to increase contract renewal is the adoption of monthly payments. The action suggests a loyalty when there are annual contracts (for example), and there are greater chances of following the consumer's impressions - after all, their experience counts a lot! —, promoting closeness between both parties.
Whether through satisfaction surveys or through the customer's own feedback, knowing how they feel about the work you provided or performed makes you, the entrepreneur/lawyer/accountant, better know what position to adopt in the face of a problematic situation.
In this way, managing the progress of the logistics itself in practice also becomes easier: monitoring the interest of your target audience and comparing it with the efficiency of the service provided ends up conditioning the optimization of internal processes.
It's remarkable how much influence you can have with this topic alone, believe me. Contract renewal has the potential to be an indispensable procedure to leverage your projects and result in greater autonomy and authority.
2. Add value to your business: work with quality persuasion
Offering a service that is of interest to the consumer is not only about the profile of the target audience. It is extremely necessary to consider quality, which, together with a range of factors, expands all the company's expectations and performance. Practicality, organization, robustness and efficiency they are points that validate the customer experience.
In this sense, sensing a visible highlight in the corporate world, it is highly advisable for the team to keep abreast of the trends brought by digital transformation in the business environment. Just as it is important to discern the consumer profile, it is also significant to maintain the internal procedures compatible with external interests. That way, the company's position would never be alienated in the face of other market tactics.
In addition, pray for a operational harmony — Have you ever heard of lean office?? — it's an assertive way of attracting good impressions. Offering a structure (both digital and physical, if applicable) directly implies the way in which your business will be viewed. Maintain a routine faithful to the schedules to avoid setbacks; always optimizing the standards of the services provided is also a glimpse of an desirable aplomb.
In this context, it is known that technology exists in favor of the corporation. Using data analysis is also a way of estimating the most informed demands among consumers. Simulate long-term productions and predict the investment grade valid in the company, becomes another gestational strategy.
3. Define your target audience exactly
No less important than offering a product — knowledge is also traded in intellectual activities — is knowing who you provide those services to. It's essential that your function is, in fact, desirable or necessary (and why not both!) and usable.
The tip is: Have a niche! When you define which audience will really be a priority for your services, it becomes much easier to add characteristics to your brand.
Classic examples are publishers focused especially on a single genre, or on a single topic; law firms that work for a specific area of law. When looking at a brand that focuses on a certain subject, a association with all the suggested specialties. Who wouldn't prefer to hire and merge with an expert?
This relationship facilitates the company's growth and attracts more consumers interested in exactly what it has to offer. That way, the likelihood that your audience will remain in a contract with the services provided is also much higher.
4. Direct relationship with your target audience: pass security
As in any area, the consumer appreciates the security. The feeling of being able to obtain support at the slightest sign of obstruction points to a much more faithful connection between both parties. On the part of the company, greater transparency in its safety criteria and regulations; on the part of the consumer, the imminent lack of concern that inhibits any possibility of breaking contracts or dissatisfaction.
In view of this, it is always much more comprehensive to provide channels that enable constant communication, even after contract/sale. Follow up and also leave the customer integrated with new processes and changes, establishes frequent and solid contact. In this way, it is easy for your audience to become familiar with all the elaborations of your business, adapting a favorable scenario for lasting loyalty.
Read later: How to professionalize your service via WhatsApp.
In this sense, it is noticeable that the degree of satisfaction measured is also indispensable. This specific form of communication punctuates the level of gestational (or operational) efficiency of your business. Take into account the assessment to pay attention to aspects that can be remodeled, to align them with desirable standards.
No less important is the protection of your customer and the data provided by them. Apply the methodology of information security policy for the company's entire procedures, and make clear to the client the rights and obligations of both parties to the contract: abuse the legislation and protective agreements for both negotiating poles for that.
5. Technology and contract renewal
Not only the labor market, but all sectors linked to social and biological existence have expanded with fury in Direction of technological innovations. Your company can't be left behind.
To further enhance the robustness and efficiency of your projects, Clicksign offers a platform with numerous tools. Align and manage without red tape or major embezzlement, guarantees a practical and organized experience in your work environment.
5.1. Bet on electronic contracts!
By opting for the comfort of Artificial Intelligence combined with the corporate routine, it will be possible to study all the questions outlined above. The company's credibility skyrockets when there is loyalty and a high rate of contract renewal.
Make things easier for the company and the customer: Work with electronic contract signatures. In a digital world like today (especially with the pandemic), some personal interactions have to be avoided — and we sincerely believe that this is the new normal — but that's not why the customer has to have their contract renewal delayed. Doing it online is the solution.
We recommend reading Another post from our blog that teaches in a practical way about electronic signatures. Learn for yesterday!
5.2. Work with cloud computing
It has already been said between the lines of this content, but it is worth the express reinforcement: physical documents are not combined with the practicality and organization of an office. Have only what you need in printed form, and the rest of your customer information will be stored in the cloud. Easily accessible to those who carry out the work, it also has a super interesting level of protection to those who provide the data.
In this post we talk in more depth about the benefits of cloud computing with Clicksign.
5.3. Invest in process automation, if possible
In addition, the reduction in expenses is also recurring. Ao replace manual labor with technology with the management of the files, a team in charge of this is unnecessary.
In this sense, automating service and referring them to technical support only if requested is something that also reduces the demand of numerous employees. It is possible to keep customers sporadically integrated with new designs, without the real need to reserve a sector for this purpose.
To read later: Ways to optimize law firms.
Propagating a light and inviting experience to your customers becomes an objective that promises to favor both sides. Add values, design and leverage demand for your brand, in a simple and efficient way!
Clicksign is the ideal solution to accelerate the growth of your business! If you want to know more about how Online Document Signing can revolutionize your processes, take a free test and see how it is possible to make a subscription, with legal validity, in less than 1 minute. Try it, no credit card required!
