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Posts Tagged “
Retention
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fees
customer service
Retain 5% More Customers, Reap 35-95% More Profit
Did you know that if you keep 5% more of your customers, you will make 35-95% more profit? Those were the findings of a Harvard researcher* when he investigated the financial impact of keeping customers around. The chart above demonstrates how a 5% increase in retention rates increased profit across a variety of industries. The equation is simple: make us stick around (usually by making us happier) and we'll make you more money. Cut out support, services, make it difficult to talk to you, etc, and while you might save in the short, you'll lose in the long-term.
[via The Value Creation Process in Customer Relationship Management (PDF)]
* Reichheld, F. F. and Sasser, W. E. Jr. "Zero Defections: Quality Comes to Services", Harvard Business Review, September-October, 1990, pp. 105-111.
confessions
Why You Can't Cancel Your Account, An Insider's Perspective
It's easy to forget that despite infuriating scripts and adherence to dogmatic corporate policies, CSRs are real people. A former call center worker wrote in to describe the extraordinary pressure CSRs feel from management to keep customers from canceling their accounts.You'd think it was so easy: call to cancel service, and it's cancelled. And yet, it never is. Here's why.More »
desperation
Vonage's $3.99 Retention Plan
Vonage offers a $3.99 per month retention plan to customers who might jump ship to providers with more certain futures. The plan is meant to shore-up Vonage's customer churn rate, especially as the internet telephony company struggles to stay alive amidst a patent dispute with Verizon. Vonage's churn rate last quarter was 2.4%, high enough to spook investors or anyone considering a potential acquisition. A comment left by a self-avowed Vonage flack tries to put a positive spin on the offering: More »
telephony
Vonage: Sorry, You Can't Cancel Without Speaking To The Retention Department
Mark tried to cancel his Vonage service outside of normal business hours, but Vonage wouldn't let him go unless he called back to speak with the customer retention department. Mark had tried to call the previous day during business hours, but Vonage's computers were down. How convenient.Vonage: Why are you canceling the account.Watch out, Vonage. We thought Verizon held the patent for the cancelation gauntlet of doom. — CAREY GREENBERG-BERGER More »
Mark: Because we no longer need the second line.
Vonage: Unfortunately I can't do that for you. You will have to call back during regular business hours and talk to Customer Retention
Mark: But I don't want to be retained I just want to close my Vonage account.
Vonage: I'm sorry sir I can't do that, you have to call back during regular business hours.
ask the consumerists
How Can I Get Comcast To Match AT&T's Offer?
Reader Chris writes in wondering how to get Comcast to match AT&T's offer:Tried to get Comcast to match any of the 4 different offers I received from AT&T to switch and save over 55 dollars a month for the same or better services I receive from Comcast now. (I don't particularly want AT&T-branded satellite and DSL, however.)More »
I've tried twice before, and I know the general idea is to keep calling/chatting back and get a new person. This time, however, it seems as if they are all sticking to their reading points.
confessions
How To Negotiate What You Want From Sprint Retentions
A former call center worker told us how to get to, and deal with, Sprint retentions department so they will fix billing errors, or waive fees. More »
aol
AOL Made Reps Give Out One Piece Of Tech Support At A Time, Making Customers Call Back Again And Again, And Get Upsold Every Time
A former AOL tech support rep confesses one of the worst parts about his job. AOL had a policy called "One Call/One Resolution" which basically meant that they were only supposed to dole out ONE troubleshooting step when you called. Then they were supposed to pass you off to someone who tried to upsell you to DSL or some video computer courses. The result was that customers had to call in call in call in, just to get the most basic problem solved. More »
comcast
A Closer Look At Comcast's Privacy Policy
Wired took a closer look at Comcast's privacy policy on one of their blogs today. Of particular interest:The privacy policy starts off with the fine sentiment that: "Comcast is committed to maintaining your privacy and believes that, as a subscriber to its high-speed Internet service, you are entitled to know Comcast's information practices." The policy then goes on to state "We will not read your outgoing or incoming e-mail, video mail, private chat, or instant messages, but we (or our third party providers) do store e-mail messages and video mail messages on computer systems for a period of time."More »
tivo
Upgrade Your Tivo For Cheap By Trying To Cancel
Reader Justin tells us that now is the time to upgrade your Tivo, should that be your heart's desire:Tivo is now offering a trade-up program for older Series 1 Tivos. If you tell them your Series 1 machine is acting up, they will offer a highly discounted model (I got a series 2 Dual Tuner for $35 shipped) with your original service agreement.More »
t-mobile
Tough Love From A Current T-Mobile Retention Rep
Taking a break from our whirl of ex-cellphone reps revenging themselves on their former employers, here's a current T-mobile retention rep telling you how to handle the cancellation call, as well as a perspective on their thought processes. More »
sprint
Sprint Changes Plan And Renews Contract Without Consent
Sprint changed Carolyn's plan and renewed her contract without her consent. A nine-year customer with four lines, Carolyn's problems began when her December invoice showed roaming charges on a plan that allowed for free roaming. She soon discovered that in November, Sprint had moved her to a newer, more expensive plan, without her consent. More »
consumerist kit
Cut Monthly Bills In Half
This technique for getting companies to reduce your monthly bills is so classic and effective, it bears explicit reiteration. More »
readers
Attention: You Rock At Lowering Your APR
The results of people simply asking their credit card companies to lower their APR are flowing in. Meet Stephen: More »
consumerist kit
Reduce Credit Card APR: It Never Hurts To Ask
Acambras got her Citibank APR dropped from 13.99% to 2.99% just by asking. More »
cellphones
Why Do Cellphone Companies Pay So Much To Get Me, But Not To Keep Me?
It's been often said that it costs several times more to acquire a new customer than to keep a loyal one around. More »
complaints
Sprint Reps Continue Lying To Avoid Letting You Cancel
Sprint's retention process has gotten almost as bad as AOL's. More »
aol
