Customer Retention

Organizations unknowingly provide subconscious signals to customers all the time.

It doesn’t make sense to pay the price to attract and acquire a customer and then lose them to neglect and disservice. The costs of this are enormous, yet this is what happens all the time. One recent client told us that they were losing 30% of their customers in the first year; the cost of this is massive. This is why customer retention is a key challenge for many organizations today.

Customer retention is all about the Customer Experience. Simply put if customers have a poor experience they will leave you. If you provide customers with an average experience they are open to being attracted by someone else. If you provide Customers with a great experience, it will take some effort to prise them from you. And a “great experience” is one that is great from their perspective – rationally and emotionally.

No one sets out to deliberately offer a poor customer experience that drives dissatisfaction and evokes negative emotions. Yet ask yourself; have you deliberately designed and do you consistently offer a ‘great’ customer experience that earns and deserves loyalty, and drives value for you? If you think you could “do better” at customer retention, then consider how you might build, deliver, manage and sustain a great customer experience, and thus retain your customers. You will see how to do this in the rest of this web site.

 

Customer retention Marketing

How can it make sense to attract a customer and then lose them? Think of the cost involved, yet this is what happens all the time. This is why Customer retention is a growing challenge for many organizations. Why do companies pour money into attracting new customers but spend little on retaining them.
One recent client told us that they were losing 30% of the customers in the first year, at a massive cost.

• If you provide Customers with a poor experience they will leave you.
• If you provide Customers with an average experience they are open to being attracted to leave.
• If you provide Customers with a great experience it will take some effort to prise them from you.

Please find more information from books to learn how building a great customer experience can transform your customer retention rates:

In our first book, Building Great Customer experiences, we detail how to build a great experience.

In our second book, Revolutionize your Customer Experience, we reveal the journey from Naïve to Natural all organisations are on to become more customer centric.

Finally our latest book The DNA of Customer Experience: How emotions drive and destroy value reveals the emotions that, if evoked, drive and destroy loyalty, or in other words customer retention.