Does Your Customer Retention Strategy Have A Promise?

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...customers churn, but there is far more value in learning as early as possible if and when they plan to leave, what is triggering this action, how can they be engaged to prevent it in the short-term and what can be done longer term to reduce the overall trend.

Underlying any organisation's sales, marketing, product development and customer service operations is the need for a joined up strategy and ongoing process for listening to and the absorption of customer feedback, extracting the valuable insights and in turn using these to make the right decisions and actions for the...

...business. However, with so many communication channels, customer touch points and interactions, implementing and managing such a process can appear an insurmountable task.

Every communication channel you chose to adopt comes with an explicit promise to honour what you have said you will do, and an implicit promise to meet the expectations that are set by the customer. Meeting both of these promises across every channel is inextricable with increasing customer retention. You may have the best of intentions to deliver a truly multi-channel customer experience but if a channel is only receiving lip service then perhaps you are (albeit unintentionally) overpromising.

Today, there are a plethora of opportunities to learn about the behaviours, attitudes and intent of customers, ranging from hitting the high-street with a clipboard, through to logging on to the cyber grapevine and monitoring blogs, user forums and popular websites such as Twitter. Yet, whilst every proactive attempt to learn more about what makes a customer tick has value, the challenge is how to manage this cost-effectively and distilling the information, so that it reaches the right people at the right time, in order to take action before the horse has bolted.

There is a real danger... continued on page three >

 

 

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