Customer retention is most important to any growing company because it measures how successful you are at satisfying existing and future customer needs.
It’s also easier and more cost-effective to retain existing customers than to acquire new ones, returning customers spend more and buy more often, and refer friends and family. Only a 5% increase in customer retention can increase company revenue by 25-95%.
A remarkable customer experience is critical to the sustained growth of any business. A positive customer experience promotes loyalty, helps you retain customers, and encourages brand advocacy. Let’s explore some of the benefits of rolling out effective customer experience management programs.
- Affordability – It’s 5 to 25 times more expensive to acquire a new customer than it is to retain an existing customer
- ROI – A 5% increase in customer retention can increase company revenue by 25 to 95%.
- Loyalty – Retained customers buy more often and spend more than newer customers.
- Referrals – Satisfied, loyal customers are more likely to sing a company’s praises and refer their friends and family — bringing in new customers, free of charge.
- Increased revenue – customer lifetime value is the one KPI that is most indicative of the effectiveness of your customer experience (CX) strategy.
The purpose of this program is to provide participants with practical tools, to reinvent their customer experience growing their existing customer base and revenue to achieve competitive advantage.
This program is an online program, that will provide you with practical tools to implement a customer experience strategy in your organisation to build a customer centric culture. The program focusses on the following:
- Spark the CX Ambition – Create personal desire towards implementing customer experience in your company.
- Create Unifying CX Vision – Create a unifying vison that inspires the collective building of a customer centric culture.
- Developing a CX Strategy – Develop a CX strategy collaboratively to support the vision & customer centric culture.
- Getting People Onboard – Engage, align, develop & recruit employees to support the vision and strategy willingly.
- Innovating the CX future – Identify & reinvent the moments that matters, both to your customer and your business
- Focussing on CX Results – Continuously improve the moments that matters for your customer and your business.
- Leading Yourself within CX – Develop self-understanding, continuous renewal and improve own performance.
You should be able to use a desktop or laptop, which is connected to a reliable internet connection to access the program with its tools.