Customer Retention and Development Strategies

Customer Retention and Development Strategies

OBJECTIVES:

This training course on customer retention and development strategies will teach you how to maximise the lifetime value of your customers, and achieve a better return on your retention spend. You’ll also learn about new ways to use data profiling and segmentation to create productive marketing communications.

Winning new customers is important… but retaining them is critical to the financial health of your business. And as it costs considerably less to retain a customer than it does to win a new one, focusing on your retention strategy makes perfect business sense.

In just five days we’ll show you how to develop a solid retention strategy, based on the value of the customer, and integrate it into your long term business planning. You’ll learn how to make best use of data profiling and segmentation and to deliver marketing communications that work much harder for you. We’ll also show you how to create a customer focused culture throughout your company and empower your staff to make customer retention a reality.

How will you benefit from this training course?

Delegates will be able to put together a solid retention strategy that’s guaranteed to improve the return from your retention spend.

Course Outline:

Understanding the dynamics of customer loyalty and its relationship with customer retention:

• Redefining customer loyalty and retention in today’s marketplace
• Understanding the challenges and why satisfied customers are not enough
• Examining the “R” in CRM and looking at the consumer view
• Understanding the nature of loyalty in order to drive behavioural change
• Key considerations when planning your retention strategy
• The importance of generating real understanding and consumer insight
• Understanding the need for a holistic view
• Directing your efforts to where they’ll have most impact
• Ensuring that the needs of all stake holders are met
• Integrating customer retention into long term business planning
• Changing the business focus from share of market to share of wallet
• What you can expect a loyalty programme to achieve and what it cannot
• How to build a customer information system that drives loyalty
• Reviewing the available data and data collection strategies
• What you can do if you don't have your own data
• Building customer dialogue to enrich the data you do have
• Defining your retention objectives and establishing which data is important
• Segmenting your customer base and developing the retention proposition
• How to identify and save customers on the brink of defection
• The value of predictive churn modelling/role of churn management
• Defining a robust measurement tool and ROI model

Driving customer profitability and retention through effective data utilization:

Developing an effective loyalty programme that’s right for your business:

• How to use a loyalty programme to engage your customer emotionally and increase customer spend
• Assessing the business case for designing and implementing a loyalty programme
• Tools and techniques to build a customised value added loyalty programme
• How to analyse loyalty scheme data and assess its value

Developing effective communications that build loyalty:

• Establishing a Brand Idea that will project a consistent message
• Finding the right consistent tone of voice with which to address your customers
• Communicating the Brand Idea to your most important audience - your company employees
• Selecting the right media for your communications - and constantly testing
• Developing relevant propositions, offers and incentives
• Applying your message to other channels
• Upselling and cross-selling to provide added value throughout the customer lifecycle

The road to customer loyalty is a 2-way street:

• Why your call centre is your secret weapon in the loyalty battle
• Positioning your call centre to maximise customer loyalty
• How to structure your call centre experience
• Handling inbound and outbound calls
• The twin challenges of outsourcing and offshoring
• Creating a call centre your customers can be proud of

Using digital to retain and grow customers:

• The digital landscape and how its evolved
• How digital marketing can improve retention
• The Retention Marketing Toolkit
• How to get Permission from your customers
• Using your website and email marketing programme to increase retention
• Other new media opportunities
• Case studies

WHO SHLULD ATTEND?

Anyone with responsibility for determining or allocating the customer retention budget, particularly:

• Marketing directors and managers
• Brand and product managers
• Customer retention managers
• Direct and interactive marketing managers
• Marketing and data analysts
• Agency account handlers

Participants should have at least two years’ experience in direct marketing or a related discipline.