CUSTOMER

RETENTION

By: Ganapathy Raja V

Manish Borana R
[III-BBA]
OVERVIEW
Customer Life Cycle
Customer Retention-Meaning
Strategies for Customer Retention
Customer Retention Process
Customer Retention Importance

2
CUSTOMER LIFE CYCLE
REACH

INSPIRE ACQUIRE

RETAIN DEVOLOP
 CUSTOMER
RETENTION
 A company’s ability to turn customers into repeat buyers and
prevent them from switching to a competitor

 The goal of customer retention programs is to help

companies retain as many customers as possible, often
through customer loyalty and brand loyalty initiatives.

 It is important to remember that customer retention begins

with the first contact a customer has with a company and
continues throughout the entire lifetime of the relationship.
STRATEGIES FOR CUSTOMER
RETENTION
Reducing Attrition

Sell and then sell

again
Strategies
Courtesy
System

Extraordinary
customer service

Frequent communication
calendar
REDUCING ATTRITION

Here are five ways to reduce customer attrition.

• Enhance your product or service offering. The best way to reduce attrition is to ensure your product or service is
top quality....

• Target the right customers.

• Provide better customer experience/service....

• Improve customer marketing....

• Predict customer attrition.

SELL AND THEN SELL AGAIN

Steps to Start an Online Reselling Business

1. Research the Market. First, decide what you want to sell.

2. Select a Ful fillment Model.

3. Find Suppliers.

4. Create a Business Plan....

5. Take Care of Legal and Financial Matters....

6. Build a Website....

7. Set Up a Payment System.

8. Start Selling.
COURTESY SYSTEM

Some of the best examples of courtesy include

• saying “please” and “thank you,”
• holding the door open for others,
• using respectful language,
• being punctual,
• showing appreciation,
• being mindful of others’ feelings and needs.
EXTRAORDINARY COSTUMER SERVICES

Be proactively helpful
Responding to questions and complaints
Provide quick customer service
• Empowering customers
• Remember your customers
• Respond quickly to all customers feedback
• Solve customers problem and satisfy them
• Reward Repeated customers
FREQUENT COMMUNICATION CALENDAR

• The calendar is basically a programmed sequence of events, phone calls, special offers, handwritten
notes, and so on, which you send to your customers using an automation software. The programmed
sequence of events is essential for pre-sales, sales, and post-sales processes. People not only respond to
this positively, they really appreciate it because they feel valued and important. It acknowledges them,
keeps them informed, offsets post-purchase doubts, reinforces the reason they’re doing business with
you and makes them feel part of your business so that they want to come back again and again.
 CUSTOMER RETENTION PROCESS

STEP :1 IDENTIFICATION

To identify and valuate of top customers who satisfy

a certain profitability criterion.

STEP :2ANALYSIS

To depth analysis of customer behaviour (profiling and

tracking) which helps in identifying the potential market
segment.
STEP :3 STREAMING FOR TARGETING

After analysing and scoring each customer data as per

its potential value, it is accessed for selection.

STEP :4 CONTACT STRATEGIES

Contact strategies are developed for contacting

different market strategies for contacting different market
segments.
To maintain the customer loyalty and increase the
buying frequency.
STEP : TESTING
5
A series of tests are implied continuously in order
to
determine ideal frequency, timing, creative treatments and offers.

STEP :6 EVALUATION (modelling)

The evaluation done on the basis of a model that should

be received constantly through periodically research by a linking
customer database with it.
 IMPORTANCES FOR CUSTOMER RETENTION
Customer retention is crucial for several reasons, each contributing to the overall success
and sustainability of a business. Here are key reasons why customer retention is important:

 Occurrence of repeat business


8 0 %
Increase cu sto m er
10%
 ReducedRcevoesntsueoGf rcouwsthtomer
support Investment
acquRiestiutiron non 1 9
 Greater interaction between business and customers
75%

2 0
More delig hte d Customer
Satisfaction

%customers
Customer
Acquisition Cost
 .

THANK Special Thanks to

YOU!
Content and editing : GANAPATI RAJA
Slide Transition : MANISH BORANA R