Retention

Never letting a valuable customer slip away

What is more discouraging than losing a customer who has been acquired with much effort and expense? Understanding what makes customers either stay or go is crucial to your success. Targetbase can put that understanding in your hands and show you how to act upon it.

Rewards–from air miles to toasters, what really works?

When you realize that the average air traveler has as many as four loyalty cards from different carriers, you realize that succeeding in customer retention through awards programs requires real insight into customer behavior, experience and motivation. The Targetbase Rewards program will help you gain insights you can act on:

• In-depth knowledge of your best customers–when they use you, how often, for what reasons and how they rate your advantages versus your competition.
• The type of rewards that have meaningful value to your customer, but not necessarily high monetary cost to you.
• The reward structure in which the cost of reward is justified by sales or level of retention.

When you want to find out what really makes your customers come back for more, ask Targetbase.

Switchpoints–predicting the key events that cause customers to change

A baby is born … a graduate gets her first apartment … a pet grows older. All these are typical switchpoints in consumer’s lives. They often spell lost customers for brands, but you can frequently turn switchpoints to your advantage, when you understand:

• Individual customer behavior patterns over a period of time. Is behavior consistent, or is there a sharp take-up or defection point at key moments in time or customer lifestage or product lifecycles?
• The reasons why behavior changes, and how you can actually take advantage of natural shifts to gain more users and prevent defection.
• How to reach customers before behavior changes.

Renewal–how to get good customers to re-up when it’s time

An important part of many companies’ retention programs involves getting customers to sign new contracts prior to expiration. The Targetbase contract renewal program is designed to help you understand who is likely to drop out of their contract and why.

Then, we will offer you insight into the preemptive actions you can take to secure renewals from valuable customers, and which customers (such as those who drain your resources) you can safely allow to drop.