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Customer Lifetime Potential - Part 3
 

Customer Lifetime Potential - Part 3

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In the final part of the 3-Part webcast series, the author digs into the various financial and hidden costs of not maximizing customer potential from day one. With 95% of customers switching to a new ...

In the final part of the 3-Part webcast series, the author digs into the various financial and hidden costs of not maximizing customer potential from day one. With 95% of customers switching to a new vendor before communicating dissatisfaction with their current supplier, organizations must be proactive in their approach to retain and grow relationships with existing customers.

Listen to Part 3 of our Customer Lifetime Potential webcast series today to better understand the cost to your organization by failing to act now.

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    Customer Lifetime Potential - Part 3 Customer Lifetime Potential - Part 3 Presentation Transcript

    • Make Your Numbers™©2013 Zilliant Incorporated, All Rights Reserved WorldwideMeasure and Deliver Maximum Profitability
    • With over 20 years of experience, Penny hasworked closely with sales organizations to alignrevenue and product objectives with marketneeds. She has defined, developed and executedglobal marketing and product initiatives formanufacturing and distribution companiesenabling sales teams with tools and programs toexceed market and corporate expectations.©2013 Zilliant Incorporated, All Rights Reserved Worldwide2Penny J. MerianDirector of Product MarketingTable of ContentsA. The Direct Costs of Taking No ActionB. The Hidden Costs of Taking No Action1. Customer Churn2. New Customer Acquisition3. Future Revenue Loss4. Reputational Costs
    • ©2013 Zilliant Incorporated, All Rights Reserved WorldwideThe Direct Costs of Taking No Action3November 2011August 2012 $92K annual revenue - recovery Average spend $11.2K/month Spend dropped to $3.6K/monthOpportunity cost: $41K revenue potential55% decrease in 9 months Identified $51K annual recovery Average spend $6k/month Spend dropped to $1.8K/month
    • ©2013 Zilliant Incorporated, All Rights Reserved WorldwideThe Hidden Costs of Taking No Action4A marketing prediction of the netprofit attributed to the entirefuture relationship with a customerIt’s used to judge theappropriateness of the costs ofacquisition of a customer
    • ©2013 Zilliant Incorporated, All Rights Reserved Worldwide5Amount of increased profits that cancome from boosting customer retentionby as little as 5 percentSource: Bain & Company
    • ©2013 Zilliant Incorporated, All Rights Reserved Worldwide6Number of times more costly it is toacquire a new customer than retain anexisting oneSource: Bain & Company
    • ©2013 Zilliant Incorporated, All Rights Reserved Worldwide7
    • ©2013 Zilliant Incorporated, All Rights Reserved Worldwide8
    • ©2013 Zilliant Incorporated, All Rights Reserved Worldwide9
    • ©2013 Zilliant Incorporated, All Rights Reserved WorldwideZilliant provides B2B companies with data-driven guidance, enabling smarter pricing andsales decisions to help businesses make their numbers. The Zilliant optimizationplatform uses advanced science in its price optimization applications to enablecompanies to overcome the massive complexity in their businesses. Our flexible SaaSmodel allows customers to quickly and confidently improve their financial performanceby integrating into existing systems and processes. Learn more about how Zilliant helpscompanies price more profitably and sell more effectively at www.zilliant.com.10