Retaining your customers

Increasingly SEMA is seeing a growth in customer centricity as there is the recognition that a company’s customer base is its most important asset. However, it is not retention at any cost, but retention of the right customers - profitable over the customer lifetime value. 

SEMA’s experience has taught us that acquiring a new customer can cost six to seven times more than retaining an existing customer. But why does it so often appear that businesses take existing customers for granted and focus their energies more on chasing after new ones?

Perhaps it’s because we don’t know what our existing customers think so we are unsure how to approach them to buy more, or it’s simply because our marketing efforts are designed to acquire rather than retain customers.

Whatever the reasons it’s obvious that attention to a customer retention program is “working smarter not harder.”

SEMA understands that retaining profitable customers is driven from knowledge of the customer, but this can be difficult especially when you consider the multitude of data available.

By understanding the characteristics, behaviours and purchase preferences that drive decisions, SEMA can successfully tailor your retention strategies to increase your customer loyalty and improve customer profitability over time.

Our approach is a closed loop process where learnings are continually fed back to build intelligence on your customers and create stronger relationships over time.

Retention is only one part of customer management, and needs to integrate with your business. SEMA can assist with the development of this overall customer management strategy including acquiring new customers and growing your customers.