In today’s economic environment, companies must hold on to every customer they can. The cost of acquiring a new customer is many times greater than the cost of retaining an existing customer. Moreover, an engaged, satisfied and loyal customer is a potential good reference. Disturbingly, however, every lost customer is a potential bad reference.
Social media sites have empowered consumers, so that they are now able to influence how well a brand sells. They are able to use email, websites, blogs, or other social networking tools, to express opinions about products and services, and influence what others buy. Business can no longer rely on just sending a message to the customer, but rather, must listen to what those customers have to say, and engage them.
For some years, businesses have focussed on measuring and maintaining customer satisfaction. This has led to sophisticated techniques of customer relationship management. Customer satisfaction, however as several limits. It measures only attitudes, not behaviours. It analyses the past and present situation but can not predict the future. And finally, it offers interesting information but not clear actions to take.
Twelve Winds Consulting has adopted a perspective of customer engagement management. Engagement, unlike satisfaction, analyses not only attitude and opinion, but customer behaviours. It is also forward-looking, in that it can anticipate future behaviours.Twelve Winds Customer Engagement Management programmes are designed to offer clear actions that your company can take to retain your clients and add value to your organisation.
The Twelve Winds Customer Risk Matrix segments your customers based on their likelihood to leave or stay. This segmentation will help you to take specific tactical or strategic action to develop or re-establish customer loyalty, thus saving money and increasing value to the company.
- Customer engagement surveys
- Lost customer assessments