Turning lost customers into gold

Do you know how many customers your organization loses each year, fully or partially? Do you know the average cost of each defection? Can you calculate the profit-value of steady customers? Do you have an effective system for recovering lost customers? If you're in the dark about customer retention and recovery, as most companies are, this is the book that will blaze the way to new heights of customer loyalty and renewed revenue for you. Joan Koob Cannie, author of the. Groundbreaking Keeping Customers for Life, shows you how to cover all the bases that add up to zero defections and profit increases of 100 percent or more. Here, in immensely readable form, are step-by-step "road maps" for both strands of the recovery/retention process: Regaining lost customers shows how to calculate the lifetime value of customers, establish an information system, benchmark, collect customer data, gather feedback, analyze defections, and interview. Defectors. Keeping customers loyal shows how to set 100 percent customer satisfaction as a goal, listen to your customers, remove barriers to customer loyalty, resolve complaints, build teams, and promote the zero defections culture. Your rewards will truly be golden. Loyal customers spend more, cost less to serve, bring in new customers (good word-of-mouth is your most potent advertising), and are your best source of ideas for new products and services. Research shows. That these benefits accrue when you regain as little as five percent of lost business. So begin mining your company's greatest single asset. Use this pathfinding book to prevent customers from leaving in the first place, and to turn lost customers into gold.