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24. March 2016

Retention application as a tool to retain existing customers

Gaining a new customer  is  5 to 10 times more expensive than retaining the existing one. Retention application should therefore be a part of every CRM.

Nowadays, in highly competitive environment and customer fluctuation, the market is in many segments so penetrated, that it becomes more important to retain the existing customers than to acquire new ones. Retention thus comes to the fore in many companies.

Our company has finished a successful project of implementation of retention application for a large telecommunication company operating in Slovakia. Retention application, as a part of a comprehensive solution for customer relationship management (CRM), was built on the Microsoft Dynamics CRM platform using its service module.

The application records all retention and preventing events, automatically secures their distribution according to established key among retention and prevention department staff and navigates users through the solution process of the case. Retention offers are recorded at the customer level, to ensure that sales activities are not repeated, which reduces the risk of possible customer irritation. The application also provides the executive staff with the necessary tools for monitoring and evaluating  success of retention activities of the individual teams.

Implementation of the project took for about six months, it is currently in routine operation and our company, in cooperation with the customer, ensures its further development and support.

Richard Sládek

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