Customer retention

Retain clients and get more profits on the investments already made. Client retention will become of strategic importance for companies in the coming years. Most markets are already mature which implies that automatic growth through the acquisition of new clients is becoming more and more difficult.  This is caused by the fact that subscription prices are being put under pressure by an ever increasing competition, that clients are becoming more and more money conscious and that the legal environment is becoming less protective. It will be a struggle to retain clients and this is the input of the entire organization is required.

 Your questions

  • We are losing many clients to our competitors due to a low level of customer satisfaction and low client loyalty. How can we manage to retain our existing clients?
  • How can we increase the life cycle of our clients in our company? How can we increase the profits made within this life cycle?
  • To which extent should the marketing budget be dedicated to the acquisition of new clients or to the retention of the existing ones?
  • How can we avoid engaging in the spiral of fighting for low prices?
  • How can I increase the client profitability?
  • How do I get more profit-orientated thinking within my company?

The solution

We increase profitability by taking a company-wide approach of client retention. We involve all departments which contribute to or have an impact on client satisfaction and client retention. We adapt our  “customer retention model” to our experience. This model structures the interaction between your organization and your clients. For each phase of the client life cycle we identify the goal, best contact moment and measures which contribute to client retention and client profitability. We translate these results into a concrete “Customer Journey” in which the desired client experience is developed into the smallest detail. Based on this “Customer Journey” we can test the concrete operational solutions which were developed and implement them in all the involved departments.

Our approach

Together with your employees we increase customer retention by applying the right focus and implementing it in improvement actions.  We offer in-depth knowledge and expertise concerning all aspects related to client experience, client retention and increase in client profitability. Our experience has also taught us that even though knowledge and know-how is extremely important, the real key to success lies in the mobilization of the right people and the right parties. This is what we call “The Art of Mobilization”.

References