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Customer Retention - Infographic

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Cureo is a web-based collaboration platform that creates instant, secure, social company intranets and client extranets for organizations looking to productively engage their constituents to reduce reliance on email, advance commerce and get things done. A Cureo extranet will help you build stronger ties with your clients and make it easier to do business with you.

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Customer Retention - Infographic

  1. 1. BUILD A STRONGER BUSINESS One Loyal Customer at a Time TIPS TO INCREASE Customer Retention 8 THE PRICE OF DISSATISFIED CUSTOMERS CAN BE STEEP. 6to7 Reduce customer churn. BUT THE REWARDS FOR KEEPING THEM ARE GREAT. amount you can boost profits by increasing customer retention rates by just 5%.iii 25-95% Reduce time onboarding new clients. times more expensive to acquire a new customer than to keep a current one.i of consumers quit doing business with a company because of a bad customer experience in 2011.ii Increase referrals. Listen Nobody knows more about what your customers want than your customers themselves. Listen to what they have to tell you and make them feel valued. Offer Self Service Options When possible, use your website as a way to provide answers to frequently asked questions, host training videos and product documentation, capture requests, provide quotes, submit files and more. Mitigate Meeting Mayhem Take your meeting preparation and follow up to the next level. Set up a secure virtual location where you and your clients can publish, store and easily access agendas, pertinent notes, and documents and post meeting action items. www.cureo.com About Cureo: Cureo is a web-based collaboration platform that creates instant, secure, social company intranets and client extranets for organizations looking to productively engage their constituents to reduce reliance on email, advance commerce and get things done. Sources: i White House Office of Consumer Affairs. http://www.whitehouse.gov ii Customer Experience Impact Report by Harris Interactive/RightNow, 2010 iii http://hbswk.hbs.edu/archive/1590.html iv http://www.bain.com/publications/business-insights/loyalty.aspx amount a company can increase in value by increasing customer retention levels by 10%.iv 86% 30% THE BOTTOM LINE: When competition is fierce, it pays to keep your customers happy. Establish Effective Lines of Communication Make it easy for your clients to communicate with you using the method they prefer—whether that’s email, the phone, instant messaging, or discussion boards. 1 2 3 4 5 6 7 8 Respond Quickly When your clients have a question or a suggestion, don’t make them wait. Quickly let them know you appreciate their opinion and take action on what they tell you. Minimize Reliance on Email Email is ubiquitous—but that doesn’t mean it’s the best way to communicate—especially when you are collaborating with a large group. Instead, look for a communication tool that makes it easy to see follow a group conversation without getting lost in individual messages. Keep Your Communication Secure With new data breaches in the news every week, your clients understand the danger of putting anything on the web. Show your clients you respect their data privacy by using an encrypted extranet for communication instead of email—a favorite target of hackers. Get—and Stay—Organized Create a centralized, secure system for document sharing and storage, so that all contracts, reports, meeting notes—and any other documents you want to share—are are easily accessible by all team members at all times. Create Competitive Advantage and Build Customer Loyalty with a Client Centric Solution from Cureo Cureo is a web-based collaboration platform that creates instant, secure, social company intranets and client extranets for organizations looking to productively engage their constituents to reduce reliance on email, advance commerce and get things done. A Cureo extranet will help you build stronger ties with your clients and make it easier to do business with you.

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