Why eSignatures are Emerging as a Powerful Retention Tool

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Businesses that employ electronic signatures in B2B sales cycles see customer retention improve by 6.4% annually, according to the Aberdeen Group.

That’s a huge win for any organization as it’s much easier (and cheaper) to hold onto an existing customer than it is to onboard a new one.

Conversely, businesses not leveraging eSignatures for B2B sales are seeing a 1.3% drop in retention. Ouch.

These correlations indicate that customers like doing business electronically – and why wouldn’t they? Many of the same benefits experienced by those initiating electronic signature workflows (the sellers) are also felt by the signers (customers).

So why exactly are customers willing to dump their pen-signing vendors in favor of the benefits of eSignatures? Here’s why:

1. Simplicity. Simplicity comes into play on multiple levels with eSigning. Customers aren’t required to fuss with printers, ink or paper. They can express consent with a few clicks of the mouse, and if something’s wrong, they can quickly draw attention to the mistake.

2. Flexibility. Many decision-makers do business in places beyond their desks. eSignature requests are generally delivered via email and most solutions offer mobile signing capabilities, giving customers the flexibility to keep business moving from their smartphones when they’re not in the office. With the amount of travel required of most CEOs these days, it’s unrealistic to expect them to have access to a printer and scanner wherever they may be.

3. Peace of mind. Business deals are needs-based – when a customer signs a contract, they’re signing up to get something their company requires to keep things rolling. Therefore, it’s important for a customer to receive confirmation that the signed contract they returned was received. eSignature solutions bake this confirmation step into the process, providing signers with instant peace of mind.

Has your company adopted electronic signatures for B2B sales processes? If not, it may be time to start doing some research and get hip with the times.

Our free eBook, “eSigning 101: What, Why, When & How” is a great place to start. It gives a comprehensive view of electronic signatures, and provides real-life business examples.

Download your free copy here.nitro-blog-3-reasons-e-sign-lower