Driving growth through deeper relationships with existing customers
Driving growth through existing customers should be an imperative for any business. Loyal customers spend more, more often, and can be your organisation’s most powerful advocates. However, not all customers are created equal when it comes to their capacity for increasing spend with you or acting as agents of growth for your business.
We have more conversations with the world’s consumers than anybody else – and a unique understanding of what makes them tick. We can identify the customers that have most value – and most potential value – for your business, and show you precise strategies for leveraging them to unlock new growth opportunities.
Find out how we have helped our clients
Our client had been the most successful new entrant in a highly competitive telecoms market with many successful, established brands. However, it was struggling to increase market share beyond 2-3% and was suffering from low retention rates. Clear direction was needed to understand how to increase retention rates and attract new customers.
Using the we explored the comparative strengths and weaknesses of the brand at a regional level, including retention, trial and conversion rates, as well as image perceptions. We found that the low retention rates were due to weak signals and late delivery of SMS’s. These issues were also a barrier to acquiring new customers. Those who stayed with the brand were predominantly very young and willing to trade off low prices and financial incentives against quality issues. The client was not addressing the important drivers in the market which included value for money and network efficiency.
The client’s market share doubled. Although still lower than competitors, retention rates improved by 50%.
Our client, an automotive manufacturer, wanted to improve customer experience with its after sales services in order to increase sales of additional products or services and encourage customers to purchase more expensive items. The effectiveness of different measures needed to be evaluated regarding their impact on customer experience and spend. A further objective was to ensure that centrally defined quality standards were better met by the dealers.
Using the TRI*M Customer Experience methodology, TNS developed action planning workshops at the dealership level. The main drivers of customer retention were individually identified and discussed with staff and management at 40 participating dealerships. The required actions were prioritised according to relevant weaknesses identified by the TRI*M Grid. The individual workshop results and concentration on specific key drivers allowed a clear focus and strong buy-in by the client facing staff. Systematic action planning, based on key drivers and quality standards, delivered the individual actions needed to increase operational efficiency and to meet the required standards.
Precise plans for growth
Implementing the actions developed in the individual dealer workshops further resulted in the defined quality standards being met significantly more often by the dealers in parallel the TRI*M Index for these dealerships increased significantly compared to non-participating dealerships.
Vlora Basha Berisha
d: +381 38 247 977
d: +381 38 247 977