Customer Retention is ensured through Customer Care System
by Zyma Arsalan
Customer Retention is a direct outcome of any customer care system or relationship management tool. Acquiring new customers has always been expensive. It is much easier to keep a customer satisfied. But do companies around the world really value and keep customers? Typically, irate customers simply go off track and it is too late to get back the customer.
Good customer service experience comes through training and this is the same case with respect to customer retention.
Customer Retention Strategies
Customer Retention Strategies are critical to substantially decrease the customers leaving your business. From our experience teaching customer service excellence to corporations, we have come up with the following three main customer retention strategies:
Customer Life Cycle Management
Customer Life Cycle Management is all about keeping the focus and commitment level in a set pattern and process oriented framework. Customer Life Cycle Management provides the focus and commitment to provide consistent and continuous support to the customer. Many people take customer life cycle as a post sales activity tool. This is incorrect. Customer Retention is built off of a customer life cycle management plan. The customer life cycle enables you to know the key performance indicators. Majority of organizations, teams and organizations tend to focus on sales and the operational level, and keep the numbers tight. This kind of strategy seldom works. The best organizations realize the importance of customer care and tend to build and enhance value. Value proposition is the key. Without that mindset, organizations cannot become market leaders.
Get a Customer Centric Leader at the Top
Another myth is that hiring more customer care members does not build up the customer care revolution. The customer care mindset revolves and is maintained from the vision at the top. If there is no guidance, support and vision from the top, the customer segment never wins. Let me give you a recent example where we consulted for a top-level organization. The entire organization was ecstatic about the philosophy that we gave. However, when we moved towards action items and deliverables, then the entire company went into a frenzy. The financial department had no inkling on the impact that it might have on the current operational costs. The marketing team was not convinced of placing the customer care model in the marketing. However, it all revolves around the top. The top management needs to be in alignment with the customer algorithm. There is no magic except a complete and justified approach towards a quality and service delivery execution. Our experts have been in the business of customer excellence for over a decade. And we believe that by starting from the top, the customer means and has a strong impact. If it starts in the middle or in the early stages of the front line, it fails. The simple reason being is that there is no one on the top to support it. Hence the customer care system needs to focus on the custom retention model and this start from the top.
Customer Retention is about retaining the customers. There could be different reasons and methods to retain customers. It could be the price, quality, service and even commitment. However, you can only conclude if you realize the potential and value of monitoring all the transactions. This is the key for customer retention. Customer Care System will keep on delivering outcome. Make sure that the customer retention is a major output.