Each year corporations lose 15-30% of their existing customer base to their competition. This loss increases the pressure on sales to sell more to make up the lost revenue. There is added cost in acquiring new customers driving negative margin impacts. Considering all these components, most corporations cannot afford to lose their existing customer base and still expect to grow revenue in today's economy.
Customer Loyalty is impacted by most aspects of your business including Sales, Marketing, Operations, Delivery and Product Management. If a customer has unresolved issues, they will begin to search for an alternate product source. In fact, 68% of customers who chose to switch did so because they were unhappy with a past service incident that was not resolved satisfactorily.
Our comprehensive Customer Retention programs incorporate direct customer input, industry specific strategy and formal streamlined processes. We will help you understand what your loss rate is, why you are losing specific customers and proactively provide insight to stop the losses before they occur.