New Customer Retention Strategies Identified
January 2025 - Alert generated on Jan 27, 2025
Knowledge Gap Assessment
Analysis of customer interactions has identified significant knowledge gaps in agent handling of account retention scenarios. Key findings include:
Only 30% of Money Market Account closure requests received retention attempts
Inconsistent use of available retention offers across agents
Limited documentation on customer objection handling
No standardized process for retention attempts
Missing guidance on when to escalate retention opportunities
Call Center Employee Handbook
Expand Upselling Guidelines to Focus on Retention
Add specific retention script examples, decision trees for offers, and handling objections.
Add New Section: Handling Account Closure Requests
Include a step-by-step guide for preventing closures and common reasons with counter-arguments.
Revise Quality Standards with Retention Focus
Add 'Account Closure Retention Rate' metric and expand call quality checklist.
Product Catalog
Enhance Money Market Account Entry
Add retention offers, early warning system, and cross-sell opportunities.
Add Promotional Offers Section
List current promotions and availability criteria based on customer needs and history.
Customer Archetypes
Add Retention Considerations
For each archetype, add likely reasons for account closure and effective retention strategies.
Include 'What Matters Most' Section
Add insights on customer priorities to help agents connect on a personal level.
Standard Operating Procedures
Revise Account Closing Process
Expand steps to check for retention offer eligibility and add explicit retention attempt step.
Add Risk Review Guidelines
Ensure employees follow all compliance and risk reviews during retention attempts.
Training and Resources Needed
Retention Strategy Training Module
Not StartedCreate a dedicated module on customer retention techniques with role-playing exercises.
Active Listening Workshop
Not StartedEmphasize understanding customer needs before attempting retention tactics.
Quick Reference Guide
In ProgressDevelop 'What To Say When...' scenarios for common retention situations.
Objection Handling Certification
Not StartedCertificate program for handling common objections to closing accounts.