Mastering Customer Retention

Course details

Customer Relationship Management is an essential, if complicated, process in the success of any business. In order for a company to succeed and flourish, it must not only focus on attracting customers, but even more importantly, on retaining them. However, in today's highly competitive market, the Customer Retention process has become more challenging. This program is designed to help attendees understand the reasons behind customer defection, appreciate the value of loyalty, and recognize and apply the different methods to retain and win back customers.

Expected Accomplishments

Ability to apply the appropriate service, soles, communication, and negotiation skills to:

• Develop the long-term trust and commitment of customers who ivould otherwise leave
• Increase retention of customers who request cancellation of services
• Improve retention of cus tomers who choose price over value
• Increase overall account profitability by retaining business that would otherwise be lost
• Improve customers' perceptions of your organization's service quality
• Promote total customer satisfaction by enabling customers to better understand and appreciate what your product/service/ company can do for them as inpiduals
• Improve self motivation and commitment

Course Outline

The Value of Loyalty

• What is Loyalty/ Customer Loyalty,
• The Gift that Keeps On Giving,
• Loyalty ft Purchase Cycle,
• Grov/ing a Loyal Customer,
• Profit Generating System,
• Sell Wide ft Deep!
• Making the Business Case.

Drivers of Loyalty ft Defection

• Analyze This.
• It's the Service,
• Mind the Perception Gap.
• Survey Customers ft Use Analytics.
• Start Small,
• The Last Straw,
• Predicting Churn,
• The More Things Change...

How to Handle Customer Concerns ft Complaints

• Getting it Right.
• Customer Focus,
• Accountability ft Transparency,
• Acting Fairly ft Proportionately.
• Putting Things Right,
• Seeking Continuous Improvement.

How to Retain or Win Back Customers

• Identify Potential Defectors.
• Communicate With Customers,
• Listen to Front-Line Staff,
• Treat valuable Customers Well,
• Be Fair. Even When You Don't Hove To.
• Use Exit Barriers, Carefully,
• Win the Right Customers Back.

Implementation Considerations

• What about CRM Systems?
• The Point about"Points“ Programs,
• Getting Your Whole Company On Board.

Who Can Benefit

• Customer service personnel

Related Training

• Customer Service Excellence
• The Art of sales Masters
• Emotional Intelligence for Business

mode

• Consultant led classes including presentations with discussions

Prerequisites

• Exposure to management training