Customer Retention
It’s expensive to acquire new customers. So it’s best to keep the customers you already
have. Customer satisfaction can be difficult to maintain, however.
If customers are dissatisfied with your service or products, they stop doing business with
you. But they also stop buying for softer, less clear-cut reasons, such as they feel they are
not getting the value they think they should or the personalized attention they
deserve. With a Customer Retention solution, you can both monitor your customers’
assessment of your products and service, and predict their behavior.
Dunn Solutions Group brings years of database marketing experience to Customer
Retention. Our solution can identify which customers are satisfied, which are dissatisfied,
and determine which of those are likely to leave or become inactive.
Once you have that information, you can move beyond simply identifying loyal and non-loyal
customers, and begin to assign a loyalty score to each customer, and from there determine what
offers to present to them.
To illustrate, here’s a wireless phone company example: It’s a waste of marketing money and
effort to send a customer retention marketing offer (“Three Months Free Service”) to a customer who
already has decided to switch to a competitor. And it’s also a waste to send that offer to a
customer who already is loyal. In fact, a smaller, less costly offer (“$20 Off Your Next
Bill!”) would go a long way to locking in a loyal customer. It’s most important and most
efficient to focus retention efforts on the customers in the middle – those that are neither very
unhappy nor very happy. A loyalty score will help you determine which of your customers fall
into which category, and on which ones you should focus your time and money.
Dunn Solutions Group will work closely with your organization to build a Customer Retention
solution that meets your unique needs – and helps you keep the customers you already have.
More specifically, our solution will…
- Predict which customers have the highest propensity to churn
- Assign a customer loyalty score to each customer
- Identify the best offer to send to each customer based on their loyalty score
- Increase customer loyalty
- Retain high-value customers