Customer Retention

Create a sales process to improve customer relationships and retain customers for life. For a Customer Relationship Management (CRM) strategy to succeed, you will need to build a customer-focused culture within your organization.

In this 3-day course, you will discover how to develop a strong, consistent and successful corporate strategy that is focused on customer acquisition and retention. This involves designing a solid sales process, training your sales organization and developing an effective CRM strategy. Now, you can turn around struggling sales reps, meet revenue projections and boost customer loyalty. Because retaining customers is far less costly than acquiring new customers, you will realize bottom line benefits. Best of all, the goal of retaining customers for life becomes achievable.

Also Available as:

• Live Online
• Onsite

How You Will Benefit

• Stop wasting time with the wrong customers
• Identify sales reps' best practices and increase the productivity of your sales teams
• Optimize resources and reduce sales cycles to dramatically increase revenue
• Align your marketing and sales activities
• Determine the ROI of your CRM or marketing campaigns and boost results

What You Will Cover

• Understanding why CRM projects fail and the effect of dissatisfied customers
• Identifying profitable segments and rewarding loyal customers
• Building a workable sales process including sales training, pipeline management and marketing to the right argets
• Understanding and developing a CRM strategy involving GAP analysis, collecting customer information, reating customer profiles
• Aligning CRM strategies and computing ROI
• Becoming a smart marketer who uses personalization, CRM technology, drip marketing and automated touches to acquire qualified leads

Extended Seminar Outline

Print this page Extended Seminar Outline Seminar #76508 Course Outline

I. Market Overview

• Introduction & Course Overview
• Impact of Losing Customers
• The effect of dissatisfied customers
• The high cost of acquiring new customers
• The low cost of retaining existing customers
• Retention versus Acquisition

II. Customer Segmentation

• 80/20/30 Rule
• Where your revenue comes from
• Identifying profitable customers
• What's Causing Businesses to Lose Customer Focus
• Introducing Customer Relationship Management

III. Customer Loyalty

• What are your Customers Thinking?
• What is "Real" Loyalty?
• Customer satisfaction versus retention
• How to recognize loyal customers
• The Loyalty Hierarchy
• Increase profits with value propositions
• Short-term versus Long-term customers

IV. The CRM Process

• Defining the Sales Process
• The Corporate Silo
• Building a Sales Process
• The lead-flow process
• How departments interrelate
• Life Cycle Management
• Marketing – sales – support
• Earning the right to sell to existing customers

V. Where to Begin

• Why CRM Projects Fail
• Benefits of Developing a CRM Strategy
• Begin With a Plan
• Determining business goals and justifying investments
• Doing a "GAP" analysis
• Collecting Customer Information
• Knowing Your Customer Profiles
• Marketing to the right targets
• Using an integrated database

VI. The Sales Process

• The 3 Key Components for Sales Success
• The P.E.A.K sales process
• The sales funnel
• Pipeline Management
• Misaligned vs. aligned sales pipeline
• Benefits of a good sales pipeline
• Sales Training
• The relationship to the Sales Process
• Sales training's goals

VII. CRM Technology's Role

• CRM Misconceptions
• How CRM Technology Can Help
• Deploying your process
• Replicating best-practices
• Productivity tool
• CRM Product Choices, Platform Choices, and Product Requirements

VIII. Aligning CRM Strategies

• CRM Alignment Components
• Impact of Misaligned Strategies on Retaining Customers
• Selling the CRM Process to Sales
• Increasing CRM User Adoption Rate
• The compensation plan
• Aligning it with corporate strategies
• The Marketing Strategy
• Using CRM to time leads
• Using CRM for Marketing campaigns

IX. Smart Marketing

• Mass Marketing is Dead
• Personalization – The new deal
• Market better – sell more
• Using CRM Technology
• Automating Customer "Touches" and Drip Marketing
• Acquiring Qualified Leads
• Marketing program investment calculator
• Customer Lifetime Value (LTV)
• Variable Data Marketing
• Personalized marketing messages
• Digital printing versus offset printing

X. CRM's Return-On-Investment (ROI)

• Approaches to Calculating Your CRM ROI
• ROI Calculators – Discovery Review & Symptom/Cause
• Discovery Review

XI. Recommendations for CRM Project Success

• Creating the Right Team and Developing an Agenda
• Rolling it Out
• Measuring Success
• 11 steps to CRM success
• What not to underestimate
• Summary and Review

Real-World Practice Exercises
These hands-on breakout sessions will be held after each section of the class.

1. Calculate what it will cost you and how many customers you'll end up with using an acquisition versus a retention strategy.
2. Determine which of your customers are in the top, middle and lower segments of the bell-curve.
3. List what types of loyalty your customers have for your company? Why? What can you do to improve it?
4. Develop a CRM Process (using the Workflow diagram) for your company.
5. Communications game. Used to expose how well we communicate, or not.
6. Design your own Sales Pipeline with as many "layers" as needed for your business, while aligning them to the P.E.A.K Sales Process.
7. Describe ways your CRM solution could, or already does, help you acquire and retain customers.
8. Define your Corporate, Marketing & Sales Strategies. Identify how your sales team is incented to deploy your various strategies and increase user adoption.
9. Calculate your marketing campaign investment and Life-Time-Value of your customers by using the Marketing Investment Calculator form.
10. Using the CRM ROI Calculator, determine the return on investment for your CRM solution. Also, determine what your problems are costing you by using the Discovery Review Form.
11. Choosing your CRM Team Members for your company. Also, determine your measurements for success.

Who Should Attend

CEOs and presidents, national and regional sales managers and directors, marketing directors and managers and account executives who want to improve customer retention.