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Customer Retention

Customer Retention

According to NPS & CX Benchmark report 2018, only 1 of 3 companies measure Customer Retention and nearly 32% of senior management don’t know what their customer retention rate is. And yet, we know the following:
  • 96% of unhappy customers don’t complain, however 91% of those will simply leave and never come back
  • Acquiring a new customer costs more than 5 times the cost to retain an existing customer!
We offer a time-bound Customer Retention Specialist driven diagnosis and implementation support to reduce Customer Churn and increase Customer Retention rate or Customer Retention %.

Broad Approach to Customer Retention:

We use a 4 step process :
  • Potential Assessment – Evaluate the potential benefits in business KPIs through customer retention
  • Discovery – Understand customer retention related issues from customer’s perspective
  • Gap Evaluation – Identify where gaps exist for improvement in process, technology, people capabilities, policies, etc
  • Opportunity – Derive the areas form improvement, Customer Retention Strategies to be used used and how to implement
Following this we also mentor or lead the implementation and project management of necessary changes.

Sectors

B2B & B2C
Download Customer Churn & Retention Management Report

If you are looking for Customer Experience (CX) consultant in Chennai, Bangalore, Mumbai, Delhi and across India, contact us.