Baker’s Dozen: 13 Quick-Steps to Higher Customer Retention

Lori Carr Blog
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Baker’s Dozen: 13 Quick-Steps to Higher Customer Retention

Lori Carr Blog

Current customers and the way companies care for and retain them is the biggest opportunity for company growth – and, unfortunately one of the most overlooked strategies on the business agenda. While many companies talk about putting customers first — the reality is — few companies know how to get down to the ground with concrete tactics that actually increase customer retention.
I want to share a secret with you: declining retention, rising churn and lost customer loyalty is NOT the problem. It’s a symptom of something else — somewhere else – often times, within the company. That something else is the root cause(s) of lost customers and it needs to be addressed before metrics will improve. I’ll share how I fix customer retention challenges with clients in detail at my October webcast series; The Remarkable ROI of Customer Experience. But for now, let’s take a look at my “Baker’s Dozen”, the 13 Steps I use to increase customer retention and revenue.

  1. Start by focusing on the CX metrics showing decline. My Metrics Matrix will help you to understand which high impact metrics directly affect the rise and fall of revenue. Customer retention, loyalty or churn are high impact metrics and is often where I look first for trouble spots.
  2. Determine which high impact metric performance is declining and specifically how and why it has changed.
  3. Find out which customers are leaving and WHY they left. Did retention fall in a specific customer segment, geographic location or customer type or is the issue more general in nature, e.g., they left because of competition, price or repeated poor service? Before you can take action, you must understand the details of why and which customers left.