What you will learn
In this special online course, you will assess real-life case studies and learn tricks of the trade from world-class experts:
- How small changes in your communication make a big impact on customer retention
- The difference in giving customers what they need and what they think they want
- Why your customers’ feelings are both your biggest friend and enemy
- How to use emotion to drive reactive retention
Content in detail
The course consists of these inspirational lessons that will not ask for more than one hour of your time.
013 behavioral principles to increase retention
According to Harvard professor Gerald Zaltman, 90-95% of customer decisions happen subconsciously, so their decision to cancel might not be rational or thought-out. This is especially true in situations when they feel threatened and their decisions become driven by risk aversion.
But this is not all bad. Irrationality can be a double-edged sword. It can hurt your business but also help you if you know how to use it.
You’ll learn how to:
– Redirect customers’ attention
– Give them (the right) two options to choose from
– Listen and cater to their individual needs and wants
02Case study: Adobe call center
How can you retain customers without offering incentives, which only postpone the inevitable and end up costing you money? Ogilvy changed a single kick-off question that agents asked and saw a major uplift in retention at Adobe call centers in India.
– How a subtle shift in the conversation had significant impacts on retention;
– What question you should NOT ask and what to ask instead;
– Why it’s important to involve agents in creating their own talking points;
– How the environment can impact whether people stick to change.
033 more behavioral principles to increase retention
People can get quite emotional sometimes. And as we’ve established, this often leads to irrational decisions. Fear and uncertainty (financial or otherwise) don’t gel well with making thoughtful decisions.
But you can use this emotional tension to your advantage and persuade them to stay.
– How to work with customers’ emotions in order to persuade them
– What the worst feeling is that your customer can have when deciding about your service
– Why creating a feeling of safety is crucial for customer retention
04Case study: Kontentino giant churn
How do you retain your customers even after they’ve already decided that your product or service is something they could live without?
– How social media planner Kontentino cut customer churn in half in the spring of 2020,
– How not to talk about reasons for leaving, but remind the customers all the benefits they’ll lose,
– Why listening first and persuading second helps change people’s minds,
– How to shift the selection from a “yes or no” option to one where customers have two options to compare.
05Case study: Asana retention strategy
At a time when customers are faced with a looming cash crunch, canceling their premium monthly subscription services is often their first, no-brainer response. But as a service provider, how can you convince your customers to “hit pause” on such an impulsive decision? According to Behavioral Economist Matej Sucha, Asana might have some answers.
– What Asana — the project management software — does to make customers reconsider their decision to cancel their subscription.
– How Asana can use the Commitment and Consistency principle more effectively by making users subconsciously commit to their reasons to stay.
– How Asana uses the reciprocity principle to make their customer’s decision to stay stick.
– How they can make their process more effective by personalizing their offers and messaging.
Award-winning strategist, psychologist, and advertising practitioner who develops interventions and shapes communication for some of the world's most influential brands and organizations.Show more
Recognized speaker and expert in applying behavioral economics and consumer psychology in business with notable experience in working with both large corporates and SMBs.Show more