Customer Lifetime Value helps us understand a typical customer journey. Watching trends, or deviations from trend, can highlight points in time to improve engagement. Improving the value we both give and gain.
Do you know if there are things that your customers are tolerating today that they might not tolerate tomorrow? Do you have a way of finding out? Or do you just think because a customer continues to pay today, that there is no risk for the future? Or are afraid to poke-the-bear and rattle a customer about something you can’t address today.
It happens. Buggy software. Late delivery. Escalations. Sometimes we disappoint customers. It happens. But then how do you protect and grow the account in these situations? How do you start a turn-around? There are strategies that can help.
Outside of your circle of long standing customers it can sometimes be really hard to get solid actionable feedback that can help improve our businesses. Yet, one of the best ways to get quick wins in business is to be able to quickly and proactively respond to constructive feedback before it turns into an escalation that also needs damage repair. It’s also important to not fall into the trap of only listening to the squeaky wheel.
Let’s step back and look at some common touchpoints – Acquisition, Onboarding, Adoption, Retention, Advocacy, and Growth. Each of them can spawn a separate post or series of posts in itself, for now let’s just look at them from a high level.