Defection Intervention Program
Have you quantified what customer defection is costing you?
Are you proactively monitoring the factors that cause customers to defect from your company?
The average company’s defection rate is 20-25% per year; thus, millions of dollars are in play each year for most companies. Defection Intervention research identifies the 2-3 factors that highly influence your customers to either: (1) stop doing business with you completely; or (2) move a substantial amount of their business to a competitor.
By monitoring these factors directly, you will be able to “intervene” and “save” approximately 40-50% of dissatisfied customers from defecting.
Implementing a monitoring and intervention program is key because empirical evidence shows that over 90% of dissatisfied customers leave a supplier without saying a word.
The benefit of Welling’s program is that you will be able to salvage millions of dollars of business.
If you desire to increase customer retention and customer share-of-wallet, this is a performance improvement/best practices program you should incorporate into the daily management of your business.
| Actionable Insight(s) | Why Conduct This Type of Research | Outcome(s) To Be Expected |
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How to maximize customer retention through intervention? YOU LEARN for example
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Active Customer Intervention with dissatisfied customers, retains customers and increases profits and makes intervened customers more loyal
40-50% of dissatisfied customers can be saved |
Establishment And Implementation of a formal process to intervene with dissatisfied customers before it is too late; thus, increasing customer retention, loyalty and profits |