customer retention

Improving Customer Retention Levels Outside of Work Hours

Improving Customer Retention Levels Outside of Work Hours

If you’re running a small business, then you probably don’t need to be reminded exactly how important customer retention is. Even a 1% drop in repeat custom, or a dip in life time value (LTV), might seriously affect your cash flow. However even having great customer service doesn’t guarantee great retention levels. Today, I’d like to share with you five steps that you can take to shift your service levels from great, to exceptional, reduce attrition and maximise client contract value. Analyse inbound call data Even out of business hours, inbound call data will afford you invaluable insight into your customers’ mind-set and behaviour. With an efficient business telecoms system in place using a call management suite to analyse call data is your first step in better customer service. If there... »

Customer Retention key to Recession Survival

Customer retention is essential for SMEs to survive the recession, according to support group for female–led businesses Everywoman. Speaking at the launch of Small Business Week, where BT’s State of the Small Business Nation 2008 report was also published, Everywoman co–ordinator Maxine Benson, advised SMEs to concentrate on maintaining a good relationship with their existing customers and suppliers. “Firms must take care of their existing customers, by over–delivering for them and setting themselves apart from their competitors,” said Benson. “Customers are going to be making cost cuts, and firms don’t want the cost cut to be them. It’s important to keep speaking to customers to see what they really need.” The BT report revealed ... »