Comments for Attachment Theory http://attachmenttheoryblog.com Fusing Sales & Customer/Relationship Management Thu, 16 Dec 2010 18:30:47 +0000 hourly 1 http://wordpress.com/ Comment on Riding the Revenue Wave – Managing Client Acquisition and Attrition by Michael Farley http://attachmenttheoryblog.com/2010/04/02/riding-the-revenue-wave-methods-of-managing-client-acquisition-and-attrition/#comment-16 Thu, 16 Dec 2010 18:30:47 +0000 http://attachmenttheoryblog.com/?p=95#comment-16 Your blog post is both apt and timely. I previously worked for a Mid-west bank as a Sr. Relationship Manager. I was charged with the development of new business in addition to managing, maintaining and ultimately growing my existing client base. Our biggest issue—once the company had decided to invest in growing our team and our business—was maintaining a healthy balance between client acquisition and retention. Our existing clients had been neglected and taken for granted prior to the bank’s implementation of its expansion plans. As a result, we were experiencing attrition among long-term, profitable clients.

It can take many years before a new client acquisition replaces the higher profit margin of an established, long-term customer. Therefore, we began identifying our clients by level of profitability and ranked them accordingly. We defined our highest-level clients as “Blue Chip” clients (e.g., top 20% by profit margin) and assigned a designated customer support team in addition to having a designed Relation Manager. We also made a concerted effort to ensure that all clients, regardless of their level of profitability, received an on-site visit annually. Finally, it was imperative that we created opportunities all year long with our clients to practice and deliver open and value-added communication. Anything less will create opportunities for your competitors to take your business away.

]]> Comment on RETAINING CUSTOMERS ADD 10% – 25% TO BOTTOM LINE by Concetta Crane http://attachmenttheoryblog.com/2010/03/01/retaining-customers-add-10-25-to-bottom-line/#comment-13 Thu, 27 May 2010 12:07:22 +0000 http://attachmenttheoryblog.com/?p=77#comment-13 Hehe am I really the only comment to this amazing post!?

]]> Comment on Blending Your Company’s Hunters and Farmers to Increase Revenue Now by jeff bryan http://attachmenttheoryblog.com/2010/02/01/blending-your-company%e2%80%99s-hunters-and-farmers-to-increase-revenue-now/#comment-3 Mon, 22 Feb 2010 21:17:02 +0000 http://attachmenttheoryblog.wordpress.com/?p=52#comment-3 interesting and compatable point of view – - the issue is how do the troops in the field (ones at the bottom of the food chain) send a message like this up the ladder – when all the “executive ” committe talks about are new customers -

]]> Comment on During an economic downturn a graceful customer recovery is key to profitable and growing organizations. by Dan Keldsen http://attachmenttheoryblog.com/2009/12/02/during-an-economic-downturn-a-graceful-customer-recovery-is-key-to-profitable-and-growing-organizations/#comment-2 Fri, 29 Jan 2010 15:37:32 +0000 http://attachmenttheoryblog.wordpress.com/2009/12/02/during-an-economic-downturn-a-graceful-customer-recovery-is-key-to-profitable-and-growing-organizations#comment-2 Jonathan – ah, this reminds me of a similar experience I had with Delta and Orbitz two years ago. If it hadn't been for the "won't give up" attitude of ONE out of five phone reps I'd dealt with, the issue would have never been resolved. Spent over 90 minutes on a single phone call.Customer service does seem to be one of the first areas to get hit when cost-cutting comes up. Yet as we all "know" (yet don't act upon), retaining customers is the easiest and most cost-effective move possible, compared to new customer acquisition.Hmm – might have to write-up my experience. Had thought about laying it out as a process map and indicate where the process of the entire situation, and sub-processes of finger pointing, came into play.Bumping up on the writing to-do list.Cheers,Dan KeldsenInformation Architected

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