How to Use Churn Rates to Improve the Customer Experience; Graziano Associates offers 7 Keys to Retaining Clients and Building Better Client Relationships

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Churn rates should not be accepted as a fact of business. Graziano Associates offers Client Relationship Mastery™ — the art and science of building long-term client relationships.

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Client Relationship Mastery Infographic from Graziano Associates

Business owners, department heads and C-Level executives have a duty to create an experience and atmosphere for their clients so that they do not want to leave for any reason

Inattention to the client relationship takes many forms, but it impacts companies in the same way: poor public image and reduced revenue. "Business owners, department heads and C-Level executives have a duty to create a customer experience and atmosphere that clients do not want to leave for any reason," says Denise Graziano of Graziano Associates. "When customers view a vendor as an ally, partner and problem solver, they will be inclined to stay regardless of price or other incentives."

Why are some companies choosing to accept churn rates as a fact of business when they should be using this information as a guide to keep customers? According to a 2013 study by Accenture, 81% of customers that switched to different providers say companies could have done something to prevent them from switching. And, 72% of those people said that if their issue was resolved in the first contact, it would have influenced them positively. U.S. customers also have a 51% greater expectation of special treatment for being a good customer.

"Those percentages are too large to leave on the table", says Graziano. "Companies must do more to keep their customers happy for their future success. For example, corporations should take advantage of all the digital tools available to connect with their clients, gauge their satisfaction, and resolve issues quickly." There are resources for sales, customer service and client retention training. These solutions will help create business practices to reduce churn rates.

Ms. Graziano created the Client Relationship Mastery™ client retention formula as a guide to help clients retain their own valued customers. Whether B2B or B2C, the business landscape is more competitive than ever. Clients do not owe anyone their loyalty; businesses must continually earn it. When someone decides to stay with a vendor or partner, it is usually when a) they feel understood, b) when their problems are solved, and c) their goals and challenges are anticipated on an ongoing basis. This is the behavior of an ally, not a “salesperson.”

Client Relationship Mastery™ is the art and science of building long- term client relationships.
7 Keys to Client Relationship Mastery™

1. AUTHENTICITY - Always approach clients authentically, from a place of service, not a place of selling.

2. PERSPECTIVE - Sit on the other side of the table. Always view your product or service from the perspective of your customer. Adjust your messaging accordingly so you demonstrate your understanding of their situation/needs.

3. SOLVE PROBLEMS - Once you understand your clients' challenges, genuinely solve that problem for them. Find your audience and specifically address them.

4. INVEST IN THEIR SUCCESS - When you care about your clients' success and helping them reach their goals, they remember and that builds trust and loyalty.

5. APPRECIATION - Clients do not know how much you value them unless you show them. Thanking your clients should not be an after thought. This is a vital element in building long term relationships.

6. CONFLICT RESOLUTION - Problems can occasionally arise in any business. Very often they are out of your control. What you can control is how you respond, and how you protect your clients' interests at all costs. That is partnership and commitment that your clients will value.

7. PROACTIVITY - Keeping a client is not a one time activity. Bring value and innovation to the relationship and you will be the partner they want "in the game" for them. Resting on laurels will relegate you to "bench player" status, where you are called upon infrequently and are seen as replaceable. Be proactive and relevant.

A strategic thinker and leader with over 27 years of business experience, Denise Graziano is President of Graziano Associates and author of the forthcoming book Once a Client, Always a Client™, and creator of Client Relationship Mastery™—the formula designed to help sales professionals retain clients in today’s competitive business landscape. To have Denise Graziano speak to your corporation or sales team, contact her at 203-254-0195. Please visit http://www.grazianoassoc.com for more information.

Graziano Associates is a marketing and promotions firm which helps clients to get the best results from their sales messaging, client retention, employee motivation, event presence, and trade show performance. Founded in 1992, Graziano Associates is based in Fairfield, CT.

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