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Customer retention

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I am working on a Customer Retention project for Zurich. Naturally we would like to increase our Customer Retention rates (who wouldn't!). Can anyone share any experiences with me? I do not have a budget available to spend and therefore cannot attend any workshops or buy any packages and therefore would like to hear of any ideas, any help, experiences with regards to Customer Retention that is out there.

Any suggestions with be most appreciated.

Thank you
stephanie nesbitt

5 Responses

  1. Customer Retention
    Difficult to be precise without knowing more. Is Zurich the insurance company? If so certain key points apply. Let me know and I’ll comment accordingly, but it isn’t a short posting. More generally; ask the customers who have left why they did. Ask what would make them stay.. and supply it if it fits your business model. Ask the ones who stay why they do and what they like, then go find more people who want the same. There you go, a five day free training course in one paragraph. Will comment more if you can tell me more specifics about the business i.e. sales model, line of business, volume of defection. It is a real sales issue in some volume sales industries and if you are in insurance you may have a high turnover of relatively inexperienced sales people. I will be publishing a concise and practical book soon which may be of use. This is NOT a commercial plug as it will be electronic and FREE. It is intended as a good intro for new sales people and focusses on behaviours, not methodology. If interested let me know and I will email you the URL for download as soon as ready.

    Regards

    Tony Latimer
    [email protected]

  2. Customer Retention
    Dear Stephanie

    You may wish to check out http://www.socap.co.uk. Socap stands for “Society of Consumer Affairs Professionals,” and they generally have loads of information and resources. Likewise, as a member, I get their Monday morning 3 minute e-zine, and I’d be happy to have a look back at it to see what there is about customer retention.

    Catherine

  3. Thank you for your comment.
    Hi Catherine,

    Thank you for replying to me. Please can you have a look and see if there is anything available in the e-zine for me re Customer Retention. I would realy appreciate it. My e-mail address is [email protected]

    Thanks

    Steph

  4. Why customers quit
    Stephanie, the following is reputed to have been found pinned up in the training room of a motorway service area.

    Why Customers Quit

    1% die
    3% move away
    5% develop other friendships
    9% find the service or product cheaper elsewhere
    14% are dissatisfied with the product
    68% are dissatisfied with the attitude of indifference shown towards them by an employee

    I think that the message is obvious!

    My experience of delivering customer care training is confined to staff in the NHS. The main lesson I learned is that it is largely a waste of time talking about the importance of treating customers well if employees themselves do not feel VALUED. Conversley, if employees feel valued (particularly by the CEO/senior management team) they are likely to value their customers.

    However, it is probably harder to convince NHS staff of the importance of treating customers well because the usual commercial connection between paying customers and employee’s salaries doesn’t exist. Also, their morale is so low (and they certainly don’t feel valued).

  5. Customer Retention
    Stephanie

    You could try getting hold of a copy of ‘The Life Belt’ by Professor John Murphy Manchester Business School. The book introduces a framework for developing and implementing a sucessful Customer Retention ploicy within organisations. I think it costs somwhere in the region of £20.

    Hope this helps

    Bridget

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