Customer Retention

Business is not about playing the game but winning it! We all have heard that it is 5 times easier and more profitable to keep a current customer than sell to a new one. While that may be true, how do you “keep” customers, and better yet drive them to be loyal ones as well?

It starts with providing quality products or services at the right price and backing it up with great customer service. But in today’s highly competitive market, that is just table stakes and won’t win the retention and loyalty game. What keeps customers and drives loyalty is the buyer’s feeling that for this product or service, I not only have made the right but the best decision and that I am a “valued customer”.

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New technologies can drive customer retention and loyalty by...

  • Treating them individually through the use of robust database
  • Delivering relevant and valuable information based on their customer profile in an
    opt-in media format
  • Offering special access and treatment based on the customer level and value
  • Providing special alerts and offers to customers before non-customers
  • Constructing loyalty programs that are self-monitoring.
  • Listening to the "voice of the customer" (VOC) from social networks and adjusting
    your value proposition, pricing, service levels, etc to meet VOC feedback

Studies have shown that on average 10% of customers are lost each year. If this is true in your business, just think of the impact if that figure was cut in half. Want to cut customer decay? Contact us for an assessment of your customer retention and loyalty programs and recommendations on how to keep more customers by using the latest technologies!