1. Keeping and growing customers
Phone: Web:

2. Customer acquisition and retention
Increasing customer retention rates by 5% can increase profits by 25% or more (1)
Acquisition cost is typically 5-25x higher than retention cost (2)
Balance retention and acquisition to fit business strategy
(1) Reichheld, Bain and Company (2) Gallo, Harvard Business Review

3. Retention and growth strategies
Focus on your best customers – not the loudest Let go of unprofitable customers Keep it simple and manageable Build it in to everything you do
Low potential
High potential
Great customer
Keep
Indulge
Poor customer
Lose
Develop

4. What makes a great customer?
Not all customers are right for you Every business has its niche You need to know who are your best customers Profitability Expected lifetime value Ease of doing business Strategic fit Market influence/advocacy

5. How to identify them
Good data is essential Decide up-front what you need to measure Purchases/revenue Usage/behaviour/contact Costs incurred Referrals made Build measurement into business processes

6. Breakout: customer retention tactics
List examples of customer retention tactics you have seen or experienced Perhaps from: Amazon, Sky, Ocado, BA, Next, Tesco Costa, TUI, RAC, Facebook, National Trust Pick three tactics that could be adapted for your customers

7. Systems for service and retention
Design your systems to make it easy to report and to act Make sure your system and processes can differentiate key aspects of your service Look for patterns to predict churn Choose the right tools for your business Spreadsheet? Customer database/CRM? Ecommerce system? Custom backend for your app?

8. Different types of system
Record keeping and data analysis
Google Sheets
Excel
Marketing automation
Infusionsoft
Marketo
Hubspot
Customer and sales management CRM
Salesforce
Zoho
SugarCRM
Cheap CRM
Act!
Capsule
Nimble
Ecommerce and apps WooCommerce Paid Memberships Pro Whatever you specify and build

9. In summary
Define your ideal customers (and those you don’t want) Put in place systems to track and measure Create processes to deliver outstanding service to those you care about

10. Questions