Miller’s Monday Morning Message

Andrew MillerMiller’s Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on operational excellence, strategy, life balance and everything in between

Toronto – January 12, 2015
Recently, I have been having many conversations with clients and prospective clients about customer retention and what causes customers to want to stay with an organization. I’ve always believed that the time period directly after you have acquired a new customer has a dramatic impact on retention. Too many organizations move on to the next opportunity once they have acquired that new customer and they quickly forget about them. My most successful clients take that opportunity to create loyalty and solidify the relationship, which dramatically increases retention. Here are five examples of tactics you should be employing within 90 days of acquiring a new customer:
  • Help your customer’s organization transition from their old provider to your products and services by providing marketing, project management, and education support.
  • Invite them to an exclusive event with other customers. One they wouldn’t have been able to attend before they were customers.
  • Sit down with them to find out their opportunities and help them find solutions to take advantage of those opportunities.
  • Contact them regularly to see if you are meeting their expectations and if there is anything you can for them.
  • Offer them access to data or reports that will help them perform better in their industry.

The first 90 days after you acquire a new customer is critical to their retention. Don’t move on to the next opportunity so quickly. Use the first 90 days to build a strong relationship.

Do this, and your customer retention will skyrocket!

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