Retaining Current Customers

The Power of Loyalty

“They will give you their loyalty, but first you must discover and

communicate that you know and understand and will serve

their needs.” - Lee Iacocca

Customer Retention

Customer acquisition costs up to five times more than customer

retention!

Customer Retention

Marketing needs to be supported by a company culture of caring about and respecting customers Be on time Be within customer’s budget Exceed their expectations

Customer Retention

Service must support marketing messages What do you do best? What services provide the most

competitive edge in the market? What are the most profitable

services? Are the current services/levels of

service the right ones for today’s markets?

TAB Survey: Why Companies Lose Customers

1% Bankruptcy or Death 3% Move 5% Technology 9% Price 14% Angry 68% Vague Feeling of

Indifference

Create a Pipeline Program

Segment customers Educate and build trust with a 12-

36 month program Ask for nothing

Keep in touch—be there for them when they need you

Automate the process E-mail Direct Mail Telemarketing

Survey Customers

Develop plan to obtain customer feedback

Learn what your customers think

Measure results Modify strategies based on

customer feedback Capture improvement ideas

Survey Customers

Survey results provide validation of what you are doing

Survey results help you confidently make changes Direction for reducing costs Point out opportunities

The Strategic Survey Experience

START

Focus Groups

Show if you are meeting customer needs

Gather your customers together to discuss new ideas and obtain feedback on your current and potential products or services

Reward participants and share the credit for good ideas

Nurture Marketing

Tactically driven approach based on prospect/customer behavior Clients generating most of your

near-term revenue receive communication personalized by account and contact type

Allows you to learn about your customer’s decision-making process

Nurture Marketing

Every employee can make a marketing impact

Every employee should have a business card

Employees help with passion and enthusiasm when giving the “30-second elevator commercial”

Look and act the part Wear company logo items

Don’t Forget the Telephone

Call clients regularly to see what they think of you Improves retention Provides insights for new

opportunities Allows chance for your team to

delight a client

Continual Cycle

Customer research helps you understand not only how to retain clients, but also how to appeal to prospects

Continual Cycle

Keep your customers with service and personalized

communication they will also become a salesperson for you

What Methods Do You Plan to Use for Retention of Your Current Customers