MANAGE

How many businesses proactively manage their customer relationships? Your knowledge of your relationship is probably the only genuine source of sustainable competitive advantage but how can this knowledge be realised, and leveraged to affect desirable customer behaviour?

Retain

Most businesses obey the Pareto principal with at least 80% of their profitability coming from 20% or less of their customers, and given that it can cost five or six times as much to attract a new customer than to keep an existing one customer retention strategy is crucial to the success of your business.
Why do companies lose customers?

• Customer moves away or dies 4%
• Competitor wins customer over 5%
• Lower prices elsewhere 9%
• Unsatisfactory handling of complaint 14%
• Lack of attention, no contact, poor attitude 68%

68% of customers leave because of poor treatment. This means that most of the time the solution is in our own hands.

Core Insight will help you identify those current and future “most valuable customers” and concentrate your retention activity and budget where it will make the biggest difference to your bottom line.

Grow

Traditionally DM and TM have been used to generate customer growth by issuing large volume loosely targeted cross and up-sell offers. In light of the 68% of customers who defect because they feel that businesses don’t value them Core Insight believes there is a better way. By building a relationship and genuine dialogue with customers we can increase our understanding of their needs and wants and deliver more pertinent offers, generating customer satisfaction and at the same time improving marketing effectiveness.

The Peppers and Rogers ‘one to one’ paradigm may remain unrealistic to all but a select few organisations advances in customer analysis, campaign management and print technologies mean that small volume mass customised campaigns can be delivered cost effectively and with spectacular results.