Customer Retention Tools
The Business Retention Index™
The Business Retention Index™ (BRI™) is our proprietary measure of the strength of the bond between a customer and the company that serves them.
There is a strong correlation between the BRI™ and customer retention/renewal behavior.
The BRI™ evolved over two decades of customer satisfaction and retention research and direct application to client projects. It provides the foundation for intervention and customer retention because it is an early warning indicator of customer defection.
The BRI™ differs from many other Key Performance Indicators of customer satisfaction/retention because it measures:
- Multiple facets of the relationship between a customer and the company that serves them
- What the customer will do rather than how they feel (i.e., their retention/defection behavior rather than satisfaction level with a company)
- Your company’s perceived performance relative to the competition
- Consistency of customer perceptions (in this respect the BRI™ is unique among Key Performance Indicators)
The BRI™ ‘looks’ different from other measures because it is reported as a letter rating with a subscript (Key Performance Indicators are usually reported as a number).
It is the platinum indicator for predicting customer retention because it indicates what your customer “will do about” their perceptions of and feelings towards your business.
The Business Essentials Index™
The Dunvegan Group identified a set of seven service aspects that are common to all Business-to-Business relationships. These aspects consistently emerged across industries, size of business and range of services. For this reason, we named them “Business Essentials” and the Business Essentials Index™ is a critical indicator of how well your company is delivering against customer expectations in these areas.
The Service Delivery Index™
The Service Delivery Index™ (SDI™) is specifically created for your company to reflect customer expectations of companies in your specific sector. We measure only those service areas where you are both willing and able to adapt to customer expectations. These may be areas that you consider fundamental to the products and services your company offers as well as aspects that differentiate your company from your competitors.
Problem Experience Profile™
Service failures happen and, when handled gracefully, they are opportunities for your company to strengthen the bond with your customers.
The Problem Experience Profile™ reveals where customers are experiencing challenges doing business with you, how serious they consider these issues to be, and evaluates how well your team does at resolving issues to make a graceful recovery.
Customer Advocacy Zone™
When your customers are asked to recommend a company in your category, what will they say? Will they encourage others to do business with you? Or will they direct others away from your company?
We all know that ‘word of mouth’, customer advocacy, is the most powerful form of advertising!
The Dunvegan Group’s customer retention tools help to define clear actions to increase your likelihood of retaining and growing your existing customers!