Absa Bank Ghana has engaged about 70 Ghanaian-owned startup businesses on how to grow their business by providing solution-oriented services to customers. Participating startups were educated on how important customers are in the business-growth value chain, hence the need to build trust with them.
Making a presentation at an Absa StartUp Training virtual session, the Chief Customer Officer at Absa Bank Ghana, Evelyn Acquah, noted the need for startups to build the trust of customers by being a solutions provider to attract customers and grow the business.
“It is in your interest to position your business as a solutions provider with an in-depth understanding of the needs of customers. This builds customers’ trust, which contributes to overall growth of the business,” Mrs. Acquah told participants.
According to Mrs. Acquah, customer trust is built by delivering on promises, providing reassurances, being transparent and offering proactive service with consistency. Highlighting on some customer retention strategies, Ms. Acquah mentioned that startups should adopt excellent service skills, create a customer community around the brand, and be personal in delivering quality service.
“Customer retention strategies enable startups to provide as well as extract more value from an existing customer base. You want to ensure the customers you worked so hard to acquire stay with you, get value from your products, and have a great customer experience,” she said.
“Businesses that understand the importance of effective retention marketing consciously invest in customer retention plans, because they see it as the biggest revenue-driver.”
The Absa StartUp Training forms part of activities under the Absa StartUp Banking created to help Ghanaian startups grow and thrive. The Absa StartUp Banking is available across the bank’s branches, and it provides free banking services to start-up businesses with other benefits such as opportunity to tap into Market Access, Business Mentorship and market Visibility.