Customer Retention & Growth Strategies
Course Info
Code PM2-111
Duration 5 Days
Format Classroom
Course Summary
Acquiring a new customer costs up to five times more than retaining an existing one. Retention requires more than great products; it demands excellent customer service and added value to stand out from competitors. Satisfied customers often share their positive experiences, helping grow your customer base for free, while negative experiences can damage your reputation.
To retain customers, continuously improve customer service, handle feedback effectively, and create user-friendly, automated systems. A strong retention strategy includes enhancing your platform or offering rewards for frequent users. Aligning all business departments with your service strategy ensures long-term success and profitability.
Upon completion of this course, participants will be able to:
- Gain buy-in from stakeholders for your strategic growth strategy.
- Understand customer segmentation and discover what your types of customers want.
- Delve into your customer journey to address pain points.
- Understand how to address dissatisfaction to come out with a positive outcome.
- Develop key performance indicators around your customer retention.
- Create a rewards strategy for returning customers.
- Monitor your customer retention levels and make changes to support areas for development.
- Train all employees on the importance of good customer service, no matter which department they fall under.
This course is designed for anyone responsible for improving customer service or customer journey to aid retention in any business. It would be most beneficial for:
- Business Owners
- Executives
- Operations Managers
- Customer Service Managers
- team Leaders
- Supervisors
- Project Planners
- Change Managers
- Frontline Customer Care Employees
- Quality Officers
This course uses various adult learning methods to aid full comprehension and understanding. Participants will view real-world retention strategies from successful businesses and participate in group learning exercises to create journey maps for specific types of customers.
The groups will take part in developing an innovative retention or rewards scheme tailored to a specific brief and conduct presentations regarding how this scheme should be rolled out to stakeholders and customers to obtain the best reaction.
Course Content & Outline
Section 1: Managing Client & Customer Expectations
- Understanding the ‘customer is always right’ philosophy.
- Training from the top down to encourage customer focus.
- The cost of retention and building your business.
- Creating a customer-focused culture.
- Your client management model and adjustments.
- What is your customer base, and what are the next steps you are aiming for?
Section 2: Addressing Your Customer Retention Strategy
- How do your customers find you?
- What attracts your customers to your service?
- Why do customers leave?
- Your customer journey map.
- Identifying pain points.
- Your next necessary steps.
- Creating a product that requires repeat business.
Section 3: Influencing & Negotiation
- The rule of reciprocity.
- Your commitment to consistent service.
- Developing brand loyalty.
- The power of customer satisfaction and reviews.
- Reaching out for feedback.
- Establishing authority in the market.
- Your ethics and values as a business.
Section 4: Using Powerful Communication Strategies
- Your communication methods.
- Automating your experience.
- The limitations of service and looking at alternative solutions.
- Risk assessments on face-to-face communication.
- Accessibility requirements and the Equality Act 2010.
- Translation services and cross-cultural understanding.
- Social media usage - what works and what doesn’t?
Section 5: Developing A Rewards Platform
- Prize-based buying.
- Collecting coins for money off.
- Customer referral schemes.
- Understanding your customer requirements.
- Customer retention that matches your brand.
Section 6: Constant Reviewing & Aiming for Continuous Improvement
- Continuous improvement based on assessment and review.
- Your KPIs against scorecards.
- Setting SMART targets across the business.
- Audit trails to evidence improvement.
- Customer satisfaction surveys.
- Quantitative and qualitative results.
- Moving into the future of service.
Certificate Description
Upon successful completion of this training course, delegates will be awarded a Holistique Training Certificate of Completion. For those who attend and complete the online training course, a Holistique Training e-Certificate will be provided.
Holistique Training Certificates are accredited by the British Accreditation Council (BAC) and The CPD Certification Service (CPD), and are certified under ISO 9001, ISO 21001, and ISO 29993 standards.
CPD credits for this course are granted by our Certificates and will be reflected on the Holistique Training Certificate of Completion. In accordance with the standards of The CPD Certification Service, one CPD credit is awarded per hour of course attendance. A maximum of 50 CPD credits can be claimed for any single course we currently offer.
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