Customer Retention by Design

THE PROBLEM

As in many other industries, the client had developed a product which was consistently used at the operational level by its B2B customers, but felt that they didn’t appreciate the full value of the solution, which was evidenced by low customer retention, and difficult renewal negotiations.

The client had deployed a solution a few years before, and B2B customers were eager to sign-up to it. The solution allowed better production control, and increased data availability and integration. However, the customers were only engaging with the operational aspects of the solution. When it came time to renew contracts, difficulties always arose, as customers found hard to justify the solution’s value to upper-management.

Customer retention was below potential.

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THE SOLUTION

After achieving a strategic and tactical understanding of the client’s process, the Team proposed an innovative approach to achieve the objective of product engagement and customer retention.

Concepts of the product/service value cycle were merged with data analytics and relationship management to develop tools to increase engagement at middle and upper-management levels. It was not enough that the client’s solution made data available for customers, they would have to be guided to facilitate decision-making, increasing product dependency.

The new tools took the form of data flow controls, which collected data daily and generated information and insights through dynamic custom-made reports, facilitating management oversight on operational aspects. This helped bridge the gap between strategy and operations, engaging managers of all levels with our client’s solution. The tools were valued enough by customers to be incorporated in routine discussions and decision-making by upper-management.

When it came time to renew contracts, upper-management wasn’t only aware of the solution’s value, but it was becoming indispensable to them when reporting to their C-suite.

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TEAM'S RESPONSIBILITIES

Tactical assessment of client’s goals

Product Value Cycle analysis

Advanced data analytics on past commercial data and KPIs

Deployment of customer retention analysis and reporting tools

Conceptual design of new integrated solutions

Design of new data-flows

Identification of critical data for customer decision-making

Development of a custom-made dynamic analytical reporting tool

Deployment of solution with first customers

Training of the client’s teams

Assisted hand-over of solutions

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