New customers have a higher level of enthusiasm for using the product or service they just purchased. A lengthly on-boarding process can cause frustration and bring that enthusiasm to a rapid halt.
Do your new customers feel especially welcomed when they place their first order? Are your systems set up to track usage adoption, support calls and/or billing issues from new customers vs. legacy customers?
Reviewing key statistics for billing and support calls from legacy customers on a consistent basis is essential for identifying warning signs of customer drop off.
When customers are overly satisfied with the service and/or product they receive from your business they will likely want to share that information with friends especially when an incentive to do so is provided. Their lack of interest in your referral program indicates a low level of appreciation for what they are paying for and is a “flag” for future retention issues.
Is your organization gathering the right information on your customers to determine purchase behavior and trends? Are you following up at the right intervals?
We Provide Actionable Solutions
There are typically two reasons that lead successful but challenged enterprises to reach out to experienced advisory firms for assistance in addressing bottom-line impacting business issues.
- A need for timely attention to an important issue.
- Not having the resources able to identify and resolve problems.
Our approach starts with an in depth discovery of existing processes and relevant information. We then thoroughly analyze the collected information and dedicate ourselves to developing actionable solutions that will make a real difference for your organization.
We see each challenge as a unique puzzle that requires the development and deployment of a thoughtful solution based on experience and the awareness and understanding of successful methodologies. We do not begin by claiming to know your business or how it works; we only focus on your customer’s perspective and their experience with your enterprise.
A focused account retention plan from Aquarius Partners will lead to:
A 10% increase in customer retention which can grow an entity’s value by 30%.
A 50% increase in success at upselling to higher valued products and services.
A 75% improvement in sales resource effectiveness.
A 25% boost in employee satisfaction rate.
A Focus on Customer Retention
We begin all our advisory engagements taking the customer’s perspective. Focusing on customer account retention always provides the guideposts for uncovering various operational issues that are impacting your business. Some of the areas we analyze to identify your company's customer account retention issues are: