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Transcript of Greensleeves Presentation
96% of unhappy customers don’t complain, however 91% of those will simply leave and never come back (1st Financial Training services )
What is CHURN?
Due to the overall poor quality of customer service (Accenture global customer satisfaction report 2008)
Reasons for leaving...?
Can we be proactive about churn?
Total Net Cancellations
“Industry retention surveys have shown that while price and product are important, most people leave any service because of dissatisfaction with the way they are treated" - Arthur Middleton Hughes
Customer Relationship Management
Customer Experience Management
Lynette van Locherenberg - Business Manager
Phil Kaye - Risk Manager Nedbank
Johan van Schalkwyk - Independent Business Consultant
Benchmarking – we tried to obtain the information – however not publically available.
Increase Process Re-engineering
Total Loss Lead Generation
When do we start?
R 254.5 Million !
Personalized and regular communication
Customer Loyalty Creation
Retaining customers is far more lucrative than signing up new clients
R 62.9 Million
Risk cancellation include nothing left to insure.
Recently claims re-engineering = less contact points.
Trigger: Claims settlement TTD, creates lead.
Starting point in claims, roll over to contact centre.
Short term cash loan in case of shortfall.
Offer shortfall cover on all brands in future.
Who is the ideal customer?
Do we know what our customers really want?
Do we ask our clients what they actually expect from us?
How do you spend my money?
How do you plan on influencing my budget within the following 12 months?
How Telesure can reduce customer churn?
50% sytems cancellations improvement vs only 20% for stop payments
Root cause analysis
60 Days prior to review
Preferred communication method as per client
Client chooses one of the available options
Normal retentions process to be followed if not accepted
Total Net Cancellations