MANAGING AND WINNING WITH CUSTOMER RETENTION

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The Situation
A major consumer goods company recognized a large attrition with its new customers. While the company was extremely successful with its prospecting efforts, they found a number of significant gaps with retention of these new customers.

The Intervention
Steve worked with the company’s senior leadership team to create a multifarious approach to increase customer loyalty while decreasing customer attrition. Steve first helped them understand why, where, and how they were losing customers. Next, Steve developed a sales strategy that significantly curbed the attrition rate while the other tactical initiatives were being executed. Steve helped the company develop and implement a multitude of selling behaviors and processes that significantly reduced attrition within the first month.

The Resolution
Based on the implementation of Steve’s planned approach, the client has experienced an outstanding 114% monthly customer retention rate. More importantly, the business has prospered as existing customers have started to become loyal advocates for the company. This has caused an increase in referral business in excess of 43%.

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