You’ve won your customer, now you want to retain them
“ If a 2% increase in customer retention has
the same effect on profits as cutting costs by 10%
shouldn't you be enhancing your relationship
with existing customers?”
www.gartner.com
‘How do we retain our customers once the contract has been won?’
Knowing how much it costs to acquire a new customer and what their potential value could be, this is one of the most important questions for any organisation.
Happy customers are more likely to be loyal customers. So ensuring your customers are satisfied with the service they have received, and that any issues are addressed promptly and courteously, is a great way to encourage customer retention.
Complaint handling often attracts negative connotations, as it is about placating people and minimising a negative.
Service recovery on the other hand is a much more constructive approach. More concerned with fostering an ongoing positive relationship, between you and your customers, by building on the value they already hold for your company and developing it further.
Introducing a customer loyalty and incentive scheme is a great way to show your customers that you value their support and are interested in creating and maintaining your relationship, and is the perfect accompaniment to your service recovery programme.
Also See...
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