Yes, you have heard this at conferences and read it in the American Banker as well as other newspapers and periodicals. It is many times easier and more profitable to retain an existing customer than it is to find a new one. So, if your strategic plan calls for improving retention and loyalty, what are you going to do differently this year to lower attrition rates at your organization?
Reduce attrition and show your customers you care
Quest provides a complete retention and loyalty program that is perfect for community banks and credit unions. The program uses technology and training to actively and productively intervene with customers at the point when customer behavior begins to show signs of declining loyalty. Our retention and loyalty solution begins by using Quest Critical Care Attrition to actively detect customers that are beginning to change their banking behavior in a negative way.
With proper training by the Quest retention coach, your associates can learn how to make a warm, customer caring call. Following the discussion, a true determination can be made as to why the customer has begun to change their banking behavior which often leads to additional opportunities to serve and help the customer or proactively take action to correct a problem.
The bottom line, if you take no action, the customer will eventually leave your organization. Our Critical Care Attrition application has proven this to be true. So, your options are limited. You can let the customer walk or have your associates take preemptive action to save your valuable customer relationships. With the Quest retention and loyalty solution, your organization can have a major impact on slowing attrition and showing that your financial institution cares enough to call and value the relationship.
Satisfied customers are great but loyal customer are with you forever.