Proactive Customer Retention
(Best Practices in Retaining and Building Value From Existing Customers)
by Jason Rainbird
What you'll discover
when attending Jason's talk
- The value of retaining and growing profitability of existing customers.
- How the CRM can be a gold mine for identifying high-value customers.
- The types of insights you can get from the CRM about retaining and growing customer value.
- How to build a proactive customer retention model.
- Value Builder: the 12-step process that over a year can double the value of your business.
- Bundling and subscription models.
- Revenue Ratio can be an early warning signal to reach out before a customer leaves.
Meet Jason Rainbird - MD @ Flowbird
Customer retention has always been a real passion for Jason Rainbird, the founder and managing director of Flowbird.
“I think that’s a massive shame because many companies are spending a lot of money to get new inquiries. When the reality is they can grow their existing customer base, they can extend that in value and spending.” – Jason shared.
Look at what they've bought further down after buying your service, and then map out what we can add to our portfolio products that complement what we do.
Some Client Retention facts:
- Email is the preferred method of 89% of marketers for the retention of customers. (Source: True List)
- In most industries, the rate of customer retention is below 20%. (Source: Finance Online)
- 5% boost in customer retention increases profits with 25% to 95%. (Source: Review 42)
- Consumers spend 67% more if they are part of a company’s loyalty program. (Source: 99 Firms)