The cost of retaining customers is far less than the cost of finding new ones. However, managing customer retention issues requires a deep understanding of the customer experience and its impact on the way your business operates. To understand the true picture, we conduct an analysis of: customer interactions, customer journey, customer experience, and customer history. Leveraging this insight, we develop strategies to effectively manage customer retention.
1. Customer
retention
Keeping
customers
for life
Key facts
45%
retention of
• Retail company – in line
with their strategy to diversify
• National charity – Vertex
provides sales and retention
their product offering the client services on behalf of the charity.
customers who launched a home phone product. We have a dedicated team of data
were ready To support and protect its brand analysts who extract and construct
to migrate image, the retailer required data for marketing campaigns. Last
a strategic partner to develop and year we delivered 260 marketing
implement a robust, qualitative campaigns and helped support
operating solution that could be the receipt of £241 million in
Supported the launched in ninety days. The membership fees and achieved an
receipt of retailer chose Vertex to be its 86.4% membership retention rate.
partner. On average, we beat its
£241 retention target by approximately
15-20%, retaining over 45% of
customers who called to cancel.
million
in membership
fees
86.4%
membership To find out more about how we
retention can help your organisation, call
rate us on 0845 051 8400 or visit
www.vertexgroup.com
prop/0088/ds/01/oct09/je www.vertexgroup.com
2. We’ll help you
increase profit and
build customer
loyalty
With
retention
scheme
Untapped pool of pro tability
A 10% improvement in • Revenue growth
• Referrals
customer retention relative • Cost savings
Pro t
to your competitors builds to No retention
scheme
a doubling of your customer
base over seven years
0 1 2 3 4 5
Year
Acquisition
cost
How do we do it? Our focus isn’t just on new customers. As customer
Invest in your customers management experts, we know the importance of
Managing customer retention issues requires a deep retaining existing clients. We focus on your
It’s worth remembering that a loyal customer is worth more
understanding of the way a business operates and customers’ needs as well as bringing innovation
to your organisation than a new one. Your customers need to
of the customer experience itself. We work alongside when it comes to your service proposition – and help
feel valued, they want lower costs and demand excellent
you to deliver results by combining insights from focus and develop your team’s thinking.
service. If they don’t get it, they’ll quickly make their feelings
known. We ensure that you keep the customers you’ve operational knowledge and the customer journey. Vertex has the industry knowledge and the best
invested so much time and money in – and help you to practice tools to ensure that the cost in attracting
maximise your return on investment. To understand the true picture, we use an approach
centred on; customer interactions analysis, customer new customers and retaining existing ones is
journey analysis, customer experience analysis and minimised. We have the processes and systems to
reduce customer churn, increase retention and
We can dramatically Your customers can work for you customer history analysis. This allows us to analyse
provide solutions across the value chain from
and develop strategies to manage customer
retention using decision sciences and analytics. offer design, channels management, business
Your customers are at the centre of your business and our
reduce the cost of people and processes are focused on improving the customer
processes, agent performance and operational
management.
experience of your product or service. We’ll prove to you that
sales and service just an additional 5% loyalty leads to a 75% increase in
delivery lifetime profits from a typical customer. We’ll also identify
untapped pools of profitability, understanding the root
causes of retention and referrals.
www.vertexgroup.com