The backlash of the global credit crisis has left behind it issues of mistrust, customer attrition, and dips in brand loyalty, leaving in its wake significant declines in revenue. Companies who have not overlooked their customers and have placed an emphasis on the acquisition and retention of clients are those who will succeed.
At an exclusive business seminar, to be held in Johannesburg on 29 April and in Cape Town 30 April, expert in customer attrition and retention best practices, Goran Dragosavac will provide executives a roadmap to effectively manage and keep their customers at a time where the focus on the buyer has never been more critical to business success.
“At the moment we are seeing a lot of companies grappling with the concept of marshalling their resources to raise capital and cut costs, but how many of them have turned to look at what their customers are thinking, how they are acting, and what they are buying?” says Goran Dragosavac, Practice Lead Analytics at SAS Institute.
“It is a known fact that those companies who know their customers better and use that knowledge to serve them better, tend to have more loyal customers and smaller rates of attrition. Truly successful retention strategies always start with the first customer contact and continue throughout the entire lifetime of your relationship with them,” states Dragosavac.
Dragosavac, an industry expert in customer attrition and retention, has worked with customers throughout South Africa building client models that are able to marry customer retention and profitability, across a myriad of industry sectors. At the event he will provide business insights into global analytics best practices and how they can aid in fighting against customer attrition, as well as underscore the importance of differentiating your customer base to identify their importance in the business value chain.
Speakers joining him at the event will include Pravin Burra, from Deloitte and Touche, who will unpack the business context of lapse analysis, looking specifically at the relationship between profit and persistency while highlighting local examples from the financial services sector, and Wesley Weidemann from Accenture, who will offer a view on “The New Customer Imperative: Retaining and Acquiring Customers in a Changed Banking Landscape”.
“Technology has become the modern day brain of organisations, particularly those where historical information is collected, filtered out, stored and then analysed. It is only these companies that are able to start differentiating their customers based on their key business dimensions, namely: value, behaviour, risks, as well as on their retention and or attrition propensities.
“There is no doubt that success in minimising attrition has a direct impact to the bottom line, as the cost of acquiring new customers can be up to 10 times higher than the cost of retaining their existing ones. Even a small increase in retention rates can add millions of rands to premium revenue,” ends Dragosavac.
To join, attend this free executive business seminar in Johannesburg on 29 April and in Cape Town on 30 April. Visit http://www.sas.com/southafrica to book your space.
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