Video: Customer Retention Strategy with Social CRM Tools

December 26th, 2009 → 4:52 pm @ John M Perez // No Comments

Over the last 2 – 4 weeks our Social CRM Tools team has spent some time analyzing some negative tweets regarding some Big Multimedia Brands in the Telecomm, and Entertainment space. What we found was surprising! While we can not reveal the company names in the study, we will highlight some of the findings.

1. Approximately 70% of the customers who tweeted negatively about the product or service ended up canceling the product or service. We confirmed this in all cases directly with the person who tweeted. In another case, we were actually able to confirm with the company that the accounts were cancelled.
2. Approximately 90% of the customers who tweeted, tweeted about their discontent with the service prior to canceling.
3. 85% of the customers who canceled never re-instated their Service with the company while approximately 15% ended up reconsidering after they either received a better deal.

In this video, learn how to use Social CRM Tools to implement a Customer Retention Strategy across Social Networks. The pro active Social Media monitoring features in Social CRM Tools allow you to monitor, analyze, track, and engage customers when they are thinking about canceling the product or service you are providing. The power of Social CRM Tools provides your retention reps with the tools to properly engage with your customers without the scripted Retention Sales pitch.

Tags: customer retention, customer retention strategy, service, twitter