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Client Retention – a strategy to mind the gap!
Jon Stephenson
https://uk.linkedin.com/in/stephensonjon
• Pay attention to your performance: identify, measure, and track all cancellations
– categorise cancellation reasons as product, service, market, or outside your control
• Develop a set of detection measures for warning signals, and build a risk matrix
– identify whether clients are satisfied buyers, passives, happy wanderers, or dealers
• Embed a prevention mindset addressing the root causes of client dissatisfaction
– ensure your sales process manages client expectations, and deliver what you promise
• Focus retention conversations on upselling & cross-selling
– introduce risk-based commission schemes and a tailored contact strategy
• Create client redemption plans to win back their business
– request structured feedback to determine their reasons for non-renewal
Client Retention – a strategy to mind the gap!
Cancellation
Reasons
Outside
Control
Market
Service
Product
Measurement
Performance
1.
ATTENTION
Satisfied
Buyers
2.
DETECTION
At Risk
Matrix
Measurement Dealers
Passives
Happy
Wanderers
Measurement
Commission
Feedback
5.
REDEMPTION
Win Back
Strategy
4.
RETENTION
Contact
Strategy
Measurement
Method
Upselling
Cancellation
Strategy
Commission
3.
PREVENTION
Contracts
Product
Sales
Service
Type
Length
Pricing
Margin
Delivery
Improvement
Measurement
At Risk
Strategies
Recovery
Solution
Based Selling
Commission
Onboarding
Enhancement
Development
Jon Stephenson
https://uk.linkedin.com/in/stephensonjon

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Client Retention - a strategy to mind the gap!.pptx

  • 1. Client Retention – a strategy to mind the gap! Jon Stephenson https://uk.linkedin.com/in/stephensonjon • Pay attention to your performance: identify, measure, and track all cancellations – categorise cancellation reasons as product, service, market, or outside your control • Develop a set of detection measures for warning signals, and build a risk matrix – identify whether clients are satisfied buyers, passives, happy wanderers, or dealers • Embed a prevention mindset addressing the root causes of client dissatisfaction – ensure your sales process manages client expectations, and deliver what you promise • Focus retention conversations on upselling & cross-selling – introduce risk-based commission schemes and a tailored contact strategy • Create client redemption plans to win back their business – request structured feedback to determine their reasons for non-renewal
  • 2. Client Retention – a strategy to mind the gap! Cancellation Reasons Outside Control Market Service Product Measurement Performance 1. ATTENTION Satisfied Buyers 2. DETECTION At Risk Matrix Measurement Dealers Passives Happy Wanderers Measurement Commission Feedback 5. REDEMPTION Win Back Strategy 4. RETENTION Contact Strategy Measurement Method Upselling Cancellation Strategy Commission 3. PREVENTION Contracts Product Sales Service Type Length Pricing Margin Delivery Improvement Measurement At Risk Strategies Recovery Solution Based Selling Commission Onboarding Enhancement Development Jon Stephenson https://uk.linkedin.com/in/stephensonjon