1 / 12

Customer Retention and Satisfaction Measurement

Learn about customer retention strategies, churn rate, defection rate, and customer lifetime value. Identify areas for improvement and establish a customer retention program. Understand the changing marketplace and deliver excellent customer service for success.

eisenhart
Télécharger la présentation

Customer Retention and Satisfaction Measurement

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter Ten Customer Retention & Measurement Of Satisfaction

  2. What is customer retention? • The continuous attempt to satisfy and keep current customers actively involved in conducting business.

  3. Understanding Churn • Churn (or churn rate) is the number of customers who leave in a year’s time divided by the number of new customers in the same period.

  4. Defection Rate • Is the percentage of customers who leave in one year. • Customer lifetime value: • Is the net present value of the profits a customer generates over the average customer life. • Customer lifetime value= yearly profit x customer life in years

  5. Do you need to improve your customer retention program? • 1. Is customer satisfaction your primary management objective? • 2. Is there effort to enhance customer satisfaction? • 3. How do you get lost customers back? • (see page 137 for reference)

  6. Establish a customer retention program • Remember to: • 1. Examine who your customers are. • 2. Identify specific objectives. • 3. Create a manageable program of customer retention. • 4. Create a culture that stimulates customer interest. • 5. Evaluate.

  7. Chapter Eleven Delivering Customer Service to the Changing Marketplace

  8. Understanding the customer of the 21st Century • They will expect • 1. Availability: service designed to meet their schedule • 2. Accessibility: when customer needs to talk, provider can be reached • 3. Accountability: customers prefer quick and accurate answers to questions

  9. New Technology • Tips: • 1. Prepare your staff • 2. Train supervisors first and get them to buy in • 3. Sell your vision • 4. Praise success • 5. Resist temptation to complain • 6. Celebrate small success

  10. Chapter Twelve Excellence in Customer Service

  11. Rewards of Providing Excellent Customer Service • 1. Customers approach business expecting a positive experience • 2. Work is more personally fulfilling • 3. Customers act as co-produces • 4. A unique competitive edge is achieved • 5. Customer challenges are recognized • 6. Problems are creatively solved in an effective and efficient manner

  12. CONT… • 7. Customer service providers and management feel positive about the roles that they are playing in creating positive exchanges between customers and their organization • 8. Work environment is more pleasant and productive • 9. Businesses earn a positive reputation and the respect of customers and peers • 10. Profit goals are more successfully accomplished because business focus is on satisfying the customers

More Related