Copyright (C) 2012. SigmaWorks Group LLC. All Rights Reserved.
Client and Customer Retention
Companies that enjoy high margins and long-term business success have relentless focus on retaining
their most important customers.
Successful companies focus on retaining their most valuable customers. However, it is now generally
accepted that it costs 5 times more to acquire a new customer than to retain your customer.
Retaining your most valuable customers
means that you have to know who and what are the key drivers of cost-effective and successful retention.
If your answer is “no” to
one or more of the customer retention questions below, an engagement with us will bring you the benefits of robust and cost-effective
customer retention strategies. |
Key Questions
- Do you know what the key drivers of customer attrition are and what strategies are appropriate
to mitigate each driver? Are you comfortable with your current level of customer loss?
- Are you managing your current customers well?
Do you know how to reposition your service or product offerings to make them more appealing so you retain more customers? Have you
identified “low hanging fruit” opportunities that if implemented right now would immediately reduce attrition?
- Is your current customer
retention strategy cost-effective or could you retain more customers with your current retention budget?
- Do you know for sure, what
is driving your success or failure in customer retention? Are those key drivers heading in the right direction for you when measured
over time?
- Are you confident that you are targeting the right customers to retain?
- Have you identified inexpensive customer retention
incentives or strategies that would fundamentally protect your most valuable customers?
- Are you aware of and have you leveraged the
benefits of Lean and Prune-X™ customer retention methods to gain the biggest bang for your retention investment?
- Do you have a consistent
method for handling customer complaints that defuses them effectively and wins back your customer confidence?
- Do you have robust and
continually applied tools and methods for effective customer satisfaction tracking, monitoring and corrective action taking?
- Do you
know what lost or past customers are saying about your business and how to mitigate for adverse effects on your business?
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Engagement
Goal
· To dramatically increase clients/customers a company retains, grow revenues
and profits
· Implement an improved or new client/customer retention process that is
focused on clients/customers, aligned with the company’s brand, that employees like and flawlessly execute
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How SigmaWorks Will Help
You
We use our proprietary assessment and solutions development methods (the Prune-X™ framework) to:
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Assess current client retention
process performance
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Develop and implement specific client retention process improvements
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Measure and track retention process effectiveness
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Take
corrective actions and continuously improve customer retention
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Benefits
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