Did too many get away last year?
It amazes me that the US cellular companies offer so much bait to lure me from my current network. It seems they are missing the boat: they don’t have their current customers hooked.
My cellular provider does very little to keep me in their net. I watch them chum up to new customers, but they cast nothing of interest my way. Once a month they drop a line informing me of my payment status, and they do occasionally stream messages my way, but none ever snag my attention. The jig is up.
After 10 years, my cellular company has failed to build a relationship with me. I am literally just a number to them, even though they have had many opportunities to engage with me at a deeper level. The service hasn’t been bad, and the people I talk to are nice enough. But when it comes right down to it, changing cellular networks is nothing more than a financial decision for me. I have no attachment to the brand. They are fishing with a torn net.
There was once a fisherman who fished with a torn net. He had the best boat and the best bait, and he netted the most fish. Still, he went hungry because he couldn’t land his catch.
The cellular carriers endure churn, as they entice each other’s customers to switch. Churn may be an industry-specific term, but the same problem exists in every business: a failure to retain customers. Ecrion’s mission is to improve the relationships between companies and their customers, which leads directly to improved customer retention. For people like us, who understand the value of retention, we see that any acquisition plan provides a maximized ROI if it is also accompanied by a retention plan. It isn’t all about netting the fish, it is about landing them.
Customer retention is king. Maybe you saw this article in Forbes last January (or one of many with the same insights), and 2015 slipped by while you considered a proactive retention strategy for your business. It has been a year now, and you may have noticed that in the absence of any new strategy, your retention numbers haven’t improved. This could be the year to change that.
Successful retention is more than a happy voice in the service center. Retention is accomplished through personalized, relevant, targeted, and engaging interactions with your customers. Every “touch point” is an opportunity to retain their respect, their interest, their appreciation, and their business. But, to do that, your organization needs some tech, and that is where Ecrion can help. Our CCM solution can drop into your existing business infrastructure, and deliver engaging communications to your customers before this quarter is over.
For next January, make customer retention numbers be one of your highlights, along with an improved bottom line. We believe this is the best strategy to “scale” up your business.