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CRM : minimise 'churn'... maximise revenue

"It takes a minimum of 9 'effective' approaches over an 18 month
period to win a new client"  

It is a sad fact of professional service life that 96% of existing clients who are unhappy with your service will not tell you, they will simply take their business elsewhere.

Add to this the fact that clients who are unhappy with your services are twice as likely to tell this to other businesses than clients who are satisfied will.

And the final blow; it takes a minimum of 9 ‘effective approaches’ over an 18 month period to win a new client to replace the one you've lost. However, there is one positive aspect; it is 5 times easier to retain and sell new services to existing clients, than it is to gain a new one.

Combining these factors provides your business with a compelling reason to adopt a co-ordinated, business-wide approach to client relationship management. Implementor can help you establish and implement a client relationship programme that is tailored to your business’ and, more importantly, your clients’ needs.

Module elements

Audit to review effectiveness of current processes:

       » analysis of client satisfaction and/or ‘churn’ rate
       » review of key client information
       » interviewing key client team members
       » interviewing existing and former clients

Programme planning
Customer satisfaction surveys
Role of client partner
CRM as part of the staff appraisal process
Relationship assessment:

       » profiling clients (financial/business opportunities)
       » understanding the client's business
       » stage of relationship (using Cranfield’s KAM model)
       » client segmentation
       » behaviour matching
       » assigning client partners

Creating the client development team
Creating client development plans
CRM databases (see also Database Implementation)
Annual client reviews
Post transaction reviews
Service quality:

       » engagement letters
       » complaints procedure

Loyalty schemes
Alumni development programme

 
 
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