Customer Retention
…and strategies that work.
“Companies can
boost profits by
almost 100% by
retaining just 5%
more of their
customers.”
Harvard Business Review
Zero De...
Ultimate Goal –
Build customer loyalty to
prevent the customer from
taking their business
elsewhere.
Build Employee Loyalty1
2
3
4
Develop Remarkable Products
Identify Your Customers’ Needs
Leverage Customer Relationships
S...
Build Employee Loyalty
When given all of the necessary tools to
succeed, employees who are motivated and
empowered with go...
Steps towards building Customer Loyalty
2 Develop Remarkable Products
In order to do this, you must identify your
customer...
Steps towards building Customer Loyalty
3 Identify Your Customers’ Needs
Identifying “white spaces”- unmet and
unarticulat...
Steps towards building Customer Loyalty
3 Identify Your Customers’ Needs
Research
Steps towards building Customer Loyalty
3 Identify Your Customers’ Needs
Research
Feedback
Steps towards building Customer Loyalty
3 Identify Your Customers’ Needs
Research
Feedback
Social Media
Steps towards building Customer Loyalty
3 Identify Your Customers’ Needs
Research
Feedback
Social Media
Collaboration
Steps towards building Customer Loyalty
4 Leverage Customer Relationships
•Create processes to provide customers with
more...
Developing Customer Relationships (3 E’s)
Empower Customers
Engage Customers
Exceed Customer Expectations
Developing Customer Relationships (3 E’s)
Empower Customers
Give customers the tools they
need to succeed.
Developing Customer Relationships (3 E’s)
Engage Customers
Understand your customer
needs through continuous
dialogue.
Developing Customer Relationships (3 E’s)
Exceed Customer Expectations
Get things done easily, quickly,
and right the firs...
Want to increase customer retention to drive
bottom-line growth?
MPAY can help with that.
Contact us to learn more at
sale...
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Customer Retention...and strategies that work.

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By increasing customer retention rates by 5% profits increase by 25-95%. This statistic marks the beginning of establishing customer retention strategies.

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Customer Retention...and strategies that work.

  1. 1. Customer Retention …and strategies that work.
  2. 2. “Companies can boost profits by almost 100% by retaining just 5% more of their customers.” Harvard Business Review Zero Defections: Quality Comes to Services by Frederick Reichheld and W. Earl Sasser, Jr. (tweet this fact)
  3. 3. Ultimate Goal – Build customer loyalty to prevent the customer from taking their business elsewhere.
  4. 4. Build Employee Loyalty1 2 3 4 Develop Remarkable Products Identify Your Customers’ Needs Leverage Customer Relationships Steps towards building Customer Loyalty
  5. 5. Build Employee Loyalty When given all of the necessary tools to succeed, employees who are motivated and empowered with goals aligned with that of the organization will go above and beyond to build customer loyalty. Steps towards building Customer Loyalty 1
  6. 6. Steps towards building Customer Loyalty 2 Develop Remarkable Products In order to do this, you must identify your customers’ needs.
  7. 7. Steps towards building Customer Loyalty 3 Identify Your Customers’ Needs Identifying “white spaces”- unmet and unarticulated needs in their industry that create innovative opportunities
  8. 8. Steps towards building Customer Loyalty 3 Identify Your Customers’ Needs Research
  9. 9. Steps towards building Customer Loyalty 3 Identify Your Customers’ Needs Research Feedback
  10. 10. Steps towards building Customer Loyalty 3 Identify Your Customers’ Needs Research Feedback Social Media
  11. 11. Steps towards building Customer Loyalty 3 Identify Your Customers’ Needs Research Feedback Social Media Collaboration
  12. 12. Steps towards building Customer Loyalty 4 Leverage Customer Relationships •Create processes to provide customers with more products and services •Create new business opportunities within existing customers •Develop goals and plans to create customer partnerships
  13. 13. Developing Customer Relationships (3 E’s) Empower Customers Engage Customers Exceed Customer Expectations
  14. 14. Developing Customer Relationships (3 E’s) Empower Customers Give customers the tools they need to succeed.
  15. 15. Developing Customer Relationships (3 E’s) Engage Customers Understand your customer needs through continuous dialogue.
  16. 16. Developing Customer Relationships (3 E’s) Exceed Customer Expectations Get things done easily, quickly, and right the first time.
  17. 17. Want to increase customer retention to drive bottom-line growth? MPAY can help with that. Contact us to learn more at sales@mpay.com

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