Customer Retention
Customer Retention
A customer saved is a customer earned -- actually a saved customer can be worth up to five new customers!
One of the simplest ways of increasing customer profitability is to simply increase customer retention. Increasing customer retention by just one or two percent can have a dramatic impact on the overall profitability of your customers base.
Retention = Profit
Genroe have developed tools that can estimate the value of improved retention to your bottom line and support the justification of different types of retention programmes.
That means that you can determine exactly how much you should invest in various customers to optimise their value.
Acquisition is Good, Retention is Better
Companies still focus on acquisition and fail to develop and implement effective retention programs to retain customers and unlock their maximum value. Research also shows that acquiring a customer costs at least 5 times more than retaining one.
But it's all too hard?
Regardless, many companies believe it is too difficult to implement customer retention strategy for many reasons including departmental silos, lack of senior management commitment and lack of resources.
We disagree!
We have proven in a range of industries (telecommunication, financial services, insurance), in both large, listed and smaller companies that you can implement customer retention strategies that substantially improve business profitability.
Our Services
- Customer Retention Services Overview
- What is your un-captured Customer Base value?
- Customer Retention Strategy and Implementation
- Product and Service Bundling
- Customer Base Measurement and Management
- Implementing customer data collection through competitions
- Competition Implementation: Analysis
- Customer Experience Management Consultants
- Customer loyalty marketing surveys and analysis
Workshops and Programs
See our list of customer retention workshops, programs and training.
