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Use AI to Improve Your Performance - 7/23/24


Many companies are integrating Artificial Intelligence (AI) into some aspect of their business.  This could greatly change how they operate, how they communicate with customers. This AI wave reminds me of a story from 20+ years ago when a stock brokerage firm launched a new website that greatly enhanced the Read more

The New Burger Experience - 7/16/24


Floyd loves a good hamburger. Any chance he gets to try a new spin on an old standby, he takes it. Recently, a burger joint opened near his house, and Floyd was very excited! It was owned by and named for a world-renowned chef, so it had to be Read more

Boost Customer Happiness - 7/9/24


There’s a cooking show that a friend of mine watches, and the premise is all about reverse engineering food.  They may take a Reese’s Peanut Butter Cup, analyze it, and determine the ingredients just by tasting it.  Then they figure out a recipe.  The cook will try to make Read more

Brainstorm to Better Yourself - 7/2/24


I’ve led enough sessions with clients on continuous improvement topics to have solid experience on how to lead ideation exercises, brainstorming to develop new ideas.  Oftentimes these sessions start with the right question; the first answers may not be the ultimate solution, but they can serve as a jumping Read more

The Power of the Pause - 6/25/24


When I’m facilitating a meeting, and it feels like it’s going off-track or the discussion is going a little longer than it should, I may say something like “let me pause the conversation so that…” or “let’s pause just for a minute and consider…” I don’t like the word STOP. Read more

Handle Interruptions Heroically - 6/18/24


In the middle of a project, Jimbo, the customer service team member, had to stop what he was doing because he received an e-mail from a customer complaining about their experience at a recent event. Later that day, Jimbo was asked by his boss to put everything on hold for Read more

From Employees to Teammates: The Shift - 6/11/24


Be a great teammate. Be a good team player. We’re all part of the team. We’re no longer employees, we’re team members! The phrase “Team” is used in describing co-workers so much more than it was used years ago.  Then, we would be talking about employees, talking about staff, talking Read more

Nurture New Relationships - 6/4/24


Freddie was a new business owner in town.  He was launching a franchise, had acquired some funding from a local bank, and was in search of staff who cared about customer service. All the while, he was in the process of renovating a storefront for his business, so he was Read more

There’s Positivity in Patience - 5/28/24


The employee at the financial services firm was working with a new client on a relatively simple loan.  The documentation was about as clear as it could get to the employee, but the customer had lots of questions.  The employee calmly, clearly, and specifically answered each question.  The meeting Read more

The Goal – A Great Experience - 5/21/24


The following is a narrative of a great experience (people, process, service, facility) at a minor league sporting event – key points that could apply to any business are in bold… Mark and I pulled into the parking lot, excited about the game.  The Slapshots had been on a roll Read more

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Create a Custom Retention Toolkit

Posted on April 20, 2011 in Business Advice, Sports Please leave a comment

In the article Marketing starts with customer service, the author promotes the concept of identifying the 20% of your customers that drive the majority of your business. Then market to them and provide them with stellar service. The idea is to have a targeted marketing approach for your top existing customers just as you would to a target demographic (using more typical marketing parlance).

Later in the article, the different marketing strategies are referred to as retention tools…hmmm…interesting.

It’s interesting because many of us think about customer service as responding to requests, as resolving issues, as anticipating customer needs. But from a retention standpoint, what collateral (or to use the author’s term), what tools do employees at your company have available to them to keep and grow business with existing customers?

Remember from our other blog posts that retention is different from marketing in that retention needs to be more personalized – more 1-to-1 based on the customer’s true renewal drivers. But once you know those drivers for your key client types, you may find consistencies such that a high percentage of customers will stick with you for a few key reasons.

In pro sports, the teams often offer many benefits to customers, but we’ve surveyed enough season ticket holders (STHs) to know that those benefits are rarely the reason why the STH renews are not. So don’t come up with a laundry list of benefits; again, be targeted.

If the retention driver is “being in the know” with your company’s latest product offerings or events or initiatives, possibly have an “Insider” newsletter that only the best customers receive before the general public – it could include a personalized letter from the CEO. If the driver is quick turnaround on special orders, ensure you have a fast-track process for urgent orders available to key customers. If the driver is the relationship with the organization’s people, make sure the employees share their names, ask about the customer, give unsolicited tips on the use of the products or meeting other customer needs.

Identify reasons why your key customer types would stay or go, and then create your own retention toolkit.

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