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Company customer retention – How important is it to your bottom dollar?

Customer retention often gets overlooked by companies as they strive for new sales and market dominance.

Below is an example of a company confronted by churn and their actions to combat it.

A media business, focusing its efforts on nurturing relationships between companies and their prospects. Management of this company noticed they were losing significant business to churn. Their Director of Sales likened the loss to having a big hole in the bottom of a bucket. There was new business coming in, but a lot was disappearing.

The company didn’t have a system in place to measure churn. When they did the manual calculation, they found they were losing 15% of their recurring revenue every month to customers leaving. From this they set about creating a churn prevention strategy that had a clear goal, a defined timeline. The goal was to reduce churn from 15% to 5% by the end of the year.

During this time they drove a campaign of staff contacting their customers regularly, gathering information and applying that feedback, making customers dealings with the company far more pleasurable.

Within 6 months, the company had dropped their churn by more than 10% and in less than 12 months, they had reduced it to just 3%.

Maximise offers our team of professional salespeople, that can contact your customers. Many small to medium businesses don’t have the resources to offer quality customer service, our outsourcing service will meet your needs and can fit into any company plan.

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Companies on the comeback from the affects of Covid, on their business and the looming impact an economic recession will have questions that need answering. The main question for many companies is how


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