Many organizations struggle with how to retain and delight their existing customers. There’s a famous statistic that it takes five times as much money to attract a new customer as it does to retain an existing one. It’s for this reason that it is so crucial for organizations to focus on keeping their customers loyal. A key to earning your customer’s trust and loyalty is delivering consistent and memorable service, being honest and open, and honoring your commitments to them. The difference between a company’s success and failure is almost always driven by customer loyalty. Read more about how to create customer loyalty in Are You Loyal About Creating Loyalty.
About the Fortune 50 Company
What: To grow and develop the skills of their employees to facilitate exceptional customer loyalty, Global Engagement Solutions created a custom learning suite in seven global markets for every customer facing associate, manager and agent at this Global Fortune50 company. The learning suite consisted of five action oriented interactive eLearning modules on their retention strategy for their customer facing associates and managers to support their retention strategy, which resulted in higher persistency, earnings and cross sell.
Why: To ensure that employees understand the retention strategy, the tie into customer centricity and the important role they play as employees in retaining and growing their existing customer base. To provide foundational training and explore future roll-specific training opportunities.
Who: Customer facing roles (e.g. Account Management, Sales, Call Centers, Service Centers, Claims, Operations and any role interfacing with external customers)
How: 1 module each week; 5 modules total for managers, 4 for associates. Each module takes approximately 30 minutes to complete. Training, action planning, surveys are all completed online in a user-friendly environment
The design of the learning modules, maximizes the learners’ attention, and includes the following components:
Key Benefits of the Layered Learning Method
- Less time needed
- One demand, mobile capabilities
- Digestible content
- Repetition for maximum retention
- Ongoing feedback from leaders
- Practice, drill and rehearse in a safe environment
- Culturally relevant content
Results: The proactive and reactive processes within the suite of modules has helped produce over $300 million worth of bottom line impact. Plus, 98% of the global participants surveyed felt the time they took to engage in the training was a worthwhile investment.
Feedback from Managers
- “I feel the time I took to engage in this module was a worthwhile investment”
- “I understand the purpose of this training and my role in supporting action planning for my employees”
Feedback from Employees
- 100% of respondents answered that the training has given them the tools and knowledge required to support Customer Retention.
- 100% respondents answered that the Action Plans for this training will help them effectively apply the learning to their current job.
- 100% respondents answered that they felt the time they took to engage in this training was a worthwhile investment.
- 96% of the participants recommend the training to others.
- 80% answered that they have discussed their Action Plans and application of the skills and tools learned from the training with their manager
For more information about creating a customer eLearning program in your organization, get in touch at [email protected] or request a demo of our in-language, culturally relevant global learning solutions here.