orientation What is Customer Retention? Where it is originated
• It is originated from Customer experience
• It Begins during the sales process and Marketing &Selling the Product/service must also sell the expectation of positive experience. • It formulates the idea that why should the Customer buy from you instead of a competitor How It can be delivered? • Positive customer experience can be delivered by making use of all channels of communication- staffs, letters, telephone-calls, web-site, E-mail, Event attendance, etc.
• It is unlike to cost a fortune.
• It must be understood that you only get what you
pay for. Definition
• Retention is nothing more than delivering the
right customer experience. It’s simple when delivered with commitment to the customer. Service must never deviate from the promise put across by the marketing message. • Sometimes we spend huge amount of time & money to acquire new customer instead of unwilling to spend a fraction of that to keep their existing paying customers. Unlike this Practice, we have to balance both, before & after the sale. Retention Basics • Soft skills are very important in business. It is essential to be technically sound, but one should also have the ability to convey the idea to the customers in the simplest possible manner. • Customer should feel that they got their money’s worth. Process for Retention (Personal Touch) • Offer only proven & highly quality products and services. • Demonstrate customer appreciation. • Provide responsive and pro-active customer service. • Give instruction on how to get the most use from product & services. • Share customer testimonials with other existing & potential customers. • Educate the customer about Industry/market and about Value of business. • Invite customer opinions & feedback on Product and services. • Do you maintain these? If your answer is yes, good for you.
• But if your answer is no,
then you know it is time to judge & rectify yourself for long-term achievement. Will formal “Personal touch” process ensure everything The cost of this touch process sometimes makes doing nothing at all.
Doing nothing doesn’t create positive
customer experience-It results in losing customer and when customer leave, they don’t buy, they share negative experience with others & they don’t recommend the business. This Negative Marketing increases the need to spend even more to compensate for its losses. The cost of acquiring & Keeping a customer can therefore be calculated together.
The focus of following-up with
customer should never be about selling them more but it should be about making sure they are satisfied and about providing opportunity for feedback.
As a rule, A business should not
have to invest more than 20% of what it spends on acquiring a customer to retain that customer ~Customer Orientation ~ What is it ? • It is the focus on meeting the needs of one’s customers, internal or external.
• It establishes specific customer
satisfaction standard and actively monitors client satisfaction How it is maintained
At lower levels, the
service involves courteous & timely responsiveness to the requests of customers, while at higher levels it involves developing the relationship of partner and trusted advisor. Suggested Practices • On day to day travel, work at responding to people in a helpful & supportive manner. • Make a list of customers & their product/services-using. • Follow-up & be proactive in contacting others when you feel you are unclear of expectations. • Take the responsibility for rolling out or installing a new project, maintain a formal role & follow-up with customer about your performance. • Respond to a customers’ complain by first mentally placing yourself in their position. Focus initially on listening to the complaint, avoid defensive reactions that convey anger or frustration. Practice mock-test with colleagues. • Spend extra time with customer, practice active listening, reiterate what you see as their concerns needs, summarize those and ask for feedback • Research on your customers’ history with the organization. Seek out alternative source of information like database, newspapers & other public records. • Set up a tickler file to enable you maintain regular contact. • Balance the need of customer with the needs of others & organization. Negotiate to arrive at win- win situation. • Find the ways to explain or bridge the gaps between the needs of the customer and the larger organization; conduct a gap analysis. Use this information to create long-term or lasting solutions for the customer • Invite customers to meet immediate outside your area/ social activities for understanding about others who are outside your function, also to expand your network as well. • To know about your clients’ client. Identify their expectation, opportunities, constraints & compare with those are being presented. • Develop a strategy to deal with mutually benefited • Advocate the role of customer advocate. Convey to your team leader to bring resolution with top most priority. • Make a good feedback & suggestion process for further improvement How to Improve Your skills for Customer Retention &Orientation Stephen Coveys’- German scholar :Seven Habits • Be Proactive- Control ones’ environment using self-determination & respond to circumstances. • Begin with the end in mind-Must see the desired outcome & concentrate on the activities to achieve that end • Put first things first-Mangers should manage his own person & implement activities to achieve 2nd habit. • Think win-win situation – Most achievement is based on shared effort • Seek first to understand and then to be understood – Maintain positive relationship through good communication & is understood by others. • Synergize – Habit of creative co-operation, the principle that collaborating towards attaining a purpose often achieves more than individuals working independently • Sharpen the Saw – Should learn from previous experiences & encourage others to do the same FEEDBACK-PLEASE