Losing clients to your competition?
Unlock 100% client retention with WAMS.
Do you strive for 100% client retention, yet find yourself constantly fighting downward price pressures and battling rivals on price and delivery as you feel them breathing down your neck?
In a highly competitive market, where your competition is doing everything it can to poach your clients, you need a tried and tested contract retention strategy that delivers results and proven ROI.
Offering a practical retention model that gives key account managers a step-by-step road map to successfully retain their key clients, our tried and tested “Winning Account Management Strategy” (WAMS) programme has consistently delivered client retention rates above 90% to all our clients who’ve implemented it in over 50 countries, with some having achieved a constant 98% in robust markets.
Why do clients change service providers?
- No proactive retention strategy in place that secures the contract and demonstrates cost savings and real value way before the contract comes up for renewal
- Indifferent service delivery – when the current service provider becomes complacent in its delivery
- When the current service provider moves key and well-liked staff off the contract
- Not forming key relationships with all the buying influencers in your contract
- Poor senior management support to the client and contract
- Overpromising and under-delivering by operations team
- Change in senior client who favours another competitor
- Breakdown in relationship and trust
Contract retention is a result of multiple factors, including customer satisfaction, account penetration, employee retention, leadership and negotiating skills, service and product quality – and effectively managing your contract terms.
Having held the position of retention director for a global multinational in the UAE for six years, I know exactly what it takes to keep the competition away from your prized clients.
Key questions to ask yourself:
- What is your retention strategy to ensure your clients don’t move to your competitor?
- How is your current client retention strategy positively impacting your bottom line?
- What is the lifetime value of your customer?
With our clients always seeking ways to pass on cost savings and avoid contracts going out to tender, our operations teams need to ensure that they possess the skills to re-negotiate favourable contract terms and maintain a high level of client satisfaction based on superior performance and delivery.