If cash flow is the lifeblood of a media organization, customer satisfaction is the heartbeat. Modern finance technology can help your publishing company improve both cash flow and customer service, leading to greater satisfaction and loyalty from advertisers and audiences alike.
Considering that 93% of consumers are more inclined to make repeat purchases from organizations that offer outstanding customer service, it pays to invest in tech that helps you keep your customers happy.
In this article, we’ll explore Lineup Systems’ Adpoint Finance product and its query management functionality (the Adpoint Cases module) to show you how a solid dispute resolution system can help you retain valuable customers.
Why cash flow is mission critical
Your media organization’s cash flow provides a snapshot of the health of your business. The key is to have more cash coming into your company on a monthly basis than is leaving your bank account. If you find yourself in the latter situation, you could be in danger of not being able to pay your bills. Even if your media organization brings in a profit every month, this doesn’t mean you can assume your cash flow is healthy.
“Profit is an accounting concept, while cash is the amount in the business checking account. Profit doesn’t pay the bills. You can have assets, like accounts receivable (money owed to you by customers), but if you can’t collect what’s owed, you won’t have cash,” according to this article by The Balance Small Business.
Keeping an eye on your inventory and chasing down outstanding receivables on a consistent schedule are two ways to help improve your cash flow. Modern finance technology can assist you with both of these tasks and reduce the manual administrative work associated with them.
In addition to streamlining work for your finance team, technology solutions like Adpoint Finance can also enhance your customer experience. This is critical because 81% of first-time customers will be more likely to buy from you again if they had a good initial experience. In contrast, 95% of customers will either tell someone about a bad experience or simply cancel their subscription.
“While your business might survive with angry, single-purchase customers, only businesses with a focus on customer satisfaction will thrive. Customer satisfaction is the difference between surviving and thriving,” according to this article by Nicereply.
How technology drives customer satisfaction
Seamless query management and dispute resolution are crucial to providing excellent customer service. Features like Adpoint’s Cases module help publishers save time on administrative work, make processes smoother, and enhance cash flow and customer satisfaction. Better yet, Adpoint’s query management system has been updated over the past year to better meet media organizations’ requirements.
As the former CFO of a company using Adpoint, I’ve seen firsthand how useful the Cases functionality can be in practice. We relied heavily on it to ensure queries were resolved quickly and efficiently. The functionality enables users to handle disputes all the way from initial query to resolution. Users can pause invoicing on campaigns with open queries, which reduces repeat errors and ensures customers won’t be billed for other ads until the issue is resolved.
How you can leverage Adpoint’s Cases module:
- Raise a case pre- or post-invoice, and link it to ads, orders, invoices, and credit memos
- Set up lists of case types, statuses, and resolutions relevant to your business
- Easily direct questions to the right team members based on the type of dispute and amount of money at stake
- Tailor billing processes to your customers’ needs in real time
- Credit customers directly from individual cases to streamline admin work
- Connect Adpoint Cases with Adpoint Workflow to automatically route queries to different departments depending on query type or requested credit value
- Access full reporting on every case
Keep your customers happy
As a publisher in today’s highly competitive media landscape, it’s essential to make it easy for your customers to do business with you. This means it’s time to say goodbye to legacy technology and manual processes. Running your finance operations smoothly using a modern media sales solution will support both your bottom line and your ability to foster trust with advertisers and subscribers.
Adpoint Finance offers media organizations a single source of truth for financial activity across their businesses, and a way to manage receivables with ease, including billing, collecting, and reporting on ad orders. Discover how Adpoint Finance can help you improve consistency, accuracy, and customer service to enhance your cash flow.
