There is a magic ingredient for improving retention and lowering churn

Saturday, May 26, 2018                  Register

Do your IT systems look "outward" to engage your customers, or "inward" helping run the business?  Both are important.

The Listening Post Group brings these together in a unique combination of expertise.

We have extensive off-the-shelf capability with solutions ready-to-go.  If you need more, our proven expertise coupled with our agile development methodolgy will take you from concept to capability - affordably.

Customers churn all the time, for all sorts of reasons.  You’re not alone.  It happens to all companies.  Reasons often can be traced to competitors offering new products or special deals supported by persuasive advertising campaigns.

Contrary to what you might expect, the following are NOT where the magic is. 

  • it’s NOT about having a retention plan.
    it’s NOT about having a retention budget
    it’s NOT about having an executive “responsible” for retention

It is about having a good complaints-handling system. 

Are you surprised?  It’s true.  And Proven.  Don’t’ take our word for it.  Read the research.


Put energy into what you CAN control

You may worry a lot about them, but the fact is you can’t control a lot of the factors that cause churn.  So, what can you control? 

One factor contributing to churn is customer satisfaction, and you are wholly responsible for that.  Unhappy customers churn.  And the most reliable indicator of churn intent is a complaint. 

Research proves that customers who are unhappy with you and who then engage a good system to vent their complaint are much less likely to abandon you.  In fact, from the research, a good complaints-handling system was the ONLY one of the factors reviewed that had any positive correlation with retention.  The other ones noted at left were found to be irrelevant.  Go on… read the research.  It will amaze you.

So, what’s the magic? 
Make sure you have a good quality complaints system. 
You can benchmark how good YOUR complaints-handling processes are.    It's easy with LP Review

Contact Us Now

02 9879 4468

Ahh!  That's better.  Thanks Listening Post.

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