Customer churn – also known as customer attrition – is when clients or customers end their relationship with a company. The vast majority of both sales and marketing efforts are devoted to attracting new customers, instead of retaining the ones already existing. While sales driven companies focus a lot on conversion rate optimization, win rates and hitting quota, churn rate optimization and superior servicing might be far more essential to profitability and long-term success. At Solia we believe that four key areas are of utmost importance to ensure customers keep coming back: a superior customer experience, a powerful customer interaction strategy, excellence in your marketing efforts, and a focus on branding.
Manage how customers perceive your brand
The sum of all positive and negative interactions – also referred to as a “moments of truth” – a customer has with a business along the individual (direct and indirect) touchpoints in the buying journey can be described as customer experience. While in the past companies could differentiate themselves through their offering (basically what they sold), distinctiveness today increasingly lies in creating a seamless, omnichannel customer experience.
What we do
We provide the necessary analysis and data to help clients think through their customer journeys in order to determine the right level of experience at each individual touchpoint in line with customer expectations and customer value.
- Moderated the buying journey analysis at a European packaging company
- Designed a value proposition for a European manufacturing company
- Established a lower cost online sales channel at an international packaging company
- Touchpoint and buying journey analysis
- Frontline transformation
Create retention and loyalty
Understanding the customer lifecycle and decision journey, starting with acquisition, followed by efforts to nurture and develop the relationship and ending with retaining the customer for as long as necessary, is essential for effectively managing the most valuable customers at each touch point in their interaction with the company. At the very core of the concept of lifecycle management is the idea that all customer relationships create more value than the individual sales. Revenues and profits are hence maximized by implementing the right actions not only before and during the purchase, but also as far as necessary in the post-purchase period.
What we do
We map the customer decision journey, define and evaluate stages in the lifecycle and provide transformational change to your customer facing frontline employees. We also create and optimize loyalty programs.
- Data analytics and quantitative research
Boost revenues through attention
Any set of tools, processes, and strategies companies use to actively promote their products and services is called marketing. Hence, marketing is the art of understanding and satisfying customers in order to get their attention, drive sales and boost revenues as well as profits.
What we do
We help in shaping your marketing strategy and marketing mix around the needs of your customers, support in developing effective core messages to reach them and provide guidance when it comes to marketing spend and marketing-investments.
Create a strong, positive perception
Any tangible or intangible, physical or emotional aspect a customer associates with a service, product or activity of a company is understood as branding. Branding is the marketing practice of actively shaping a company’s brand. If marketing is what gets customers to engage with companies for the first time, branding is what continually affects their decision-making process and if managed well keeps them coming back for years to come.
What we do
We help companies design a clear brand strategy which outlines unique brand characteristics, values and attributes and is essential for brand positioning and the brand architecture. We help our clients in designing their distinctive positioning versus their competitors in order to meet their customers’ needs. We analyze and optimize brand portfolios and assess if they deliver the brand promise at each and every customer touchpoint (online and offline).