Does Your Customer Retention Strategy Have A Promise?

10/03/2010

By Craig Pumfrey, Director of Marketing Communications, NICE Systems EMEA

One of the first lessons anyone involved with sales and marketing is ever taught is the four 'Ps' of price, product, place and promotion. Getting the right combination of these is the formula for successful customer acquisition. But in the case of customer retention it is the fifth and most commonly ignored 'P' that is by far the most important - keeping your promise.

Doing what you said you would do, when you said you would do it is the most basic of all customer expectations. When they commit to...

...buying goods and services they impart a level of trust that the promises made to them during the time of purchase will be upheld. You can have market-leading products on the shelves of the very best retailers, at the most competitive price, with a compelling promotion, but if you over promise and under deliver it is the fastest way to disappoint and lose customers.

Keeping a promise to the customer (and how you manage a broken promise) is the collective responsibility of the entire organisation, although the contact centre is the coalface, and its performance is often the benchmark on which customers will judge whether their standards are being met.


Locking the door before the horse bolts

So, how do you know if you are making good on your promises? For many, the first they will ever know is when it is too late and the customer/s has churned, and even then the route cause may not be instantly apparent
- Is there a problem with the product? Is there a broken process within the organisation that is causing widespread customer dissatisfaction?

Or, is an external factor having an impact? It is stating the obvious to say that you need to understand why... continued on page two >

 

 

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