Customer Retention and Development Strategies | Modern Management Training Center

This training course on customer retention and development strategies will teach you how to maximise the lifetime value of your customers, and achieve a better return on your retention spend. You’ll also learn about new ways to use data profiling and segmentation to create productive marketing communications.

Winning new customers is important… but retaining them is critical to the financial health of your business. And as it costs considerably less to retain a customer than it does to win a new one, focusing on your retention strategy makes perfect business sense.

In just five days we’ll show you how to develop a solid retention strategy, based on the value of the customer, and integrate it into your long term business planning. You’ll learn how to make best use of data profiling and segmentation and to deliver marketing communications that work much harder for you. We’ll also show you how to create a customer focused culture throughout your company and empower your staff to make customer retention a reality.

How will you benefit from this training course?

Delegates will be able to put together a solid retention strategy that’s guaranteed to improve the return from your retention spend.

Anyone with responsibility for determining or allocating the customer retention budget, particularly:

Marketing directors and managers
Brand and product managers
Customer retention managers
Direct and interactive marketing managers
Marketing and data analysts
Agency account handlers

Participants should have at least two years’ experience in direct marketing or a related discipline.

Understanding the dynamics of customer loyalty and its relationship with customer retention:

Redefining customer loyalty and retention in today’s marketplace
Understanding the challenges and why satisfied customers are not enough
Examining the “R” in CRM and looking at the consumer view
Understanding the nature of loyalty in order to drive behavioural change
Key considerations when planning your retention strategy
The importance of generating real understanding and consumer insight
Understanding the need for a holistic view
Directing your efforts to where they’ll have most impact
Ensuring that the needs of all stake holders are met
Integrating customer retention into long term business planning
Changing the business focus from share of market to share of wallet
What you can expect a loyalty programme to achieve and what it cannot
How to build a customer information system that drives loyalty
Reviewing the available data and data collection strategies
What you can do if you don't have your own data
Building customer dialogue to enrich the data you do have
Defining your retention objectives and establishing which data is important
Segmenting your customer base and developing the retention proposition
How to identify and save customers on the brink of defection
The value of predictive churn modelling/role of churn management
Defining a robust measurement tool and ROI model

Driving customer profitability and retention through effective data utilization:

Developing an effective loyalty programme that’s right for your business:

How to use a loyalty programme to engage your customer emotionally and increase customer spend
Assessing the business case for designing and implementing a loyalty programme
Tools and techniques to build a customised value added loyalty programme
How to analyse loyalty scheme data and assess its value

Developing effective communications that build loyalty:

Establishing a Brand Idea that will project a consistent message
Finding the right consistent tone of voice with which to address your customers
Communicating the Brand Idea to your most important audience - your company employees
Selecting the right media for your communications - and constantly testing
Developing relevant propositions, offers and incentives
Applying your message to other channels
Upselling and cross-selling to provide added value throughout the customer lifecycle