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	January 9, 2007 Customer Retention Is A Process, Not An Event A Four-Step Cycle For Improving Customer Loyalty In Financial Services by Mary Pilecki with Sharyn Leaver, Mary Ann Rogan	Average: 8  (9 ratings)

This is an excerpt

Executive Summary

Financial services institutions (FSIs) are once again focusing on retaining their existing customers, but with little success. Given a lack of clear metrics on what attrition is and no enterprise focus on the problem, FSIs are reactively rather than proactively trying to hold onto customers. To achieve success, FSIs should think more strategically about retention by baking it into every step of the customer life cycle: target, acquire, service, and develop. Smarter use of the technology tools available, revisiting processes to improve the customer experience, and ensuring the organizational culture supports retention are all ways to improve attrition rates.

TABLE OF CONTENTS

• Retention Is Still A Reactive Sport
• Best Demonstrated Practices: Bake Retention Into The Customer Experience
• Build An Organizational Culture That Is Centered On Retention
• Identifying Your Challenges
• Measuring Your Success
• Supplemental Material
• Related Research Documents

This is an excerpt

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