Page 11 - The Standard - July 2019

Sales & Account

Management

One of our main KPIs as a business is churn. YTD we have been doing a good
job at reducing churn and driving customer retention. However, we have
been looking at ways (including the Client for Life training) to take our client
retention % to new levels.
As part of the Segmentation task, we have looked at 188 customers who
have departed the LEO portfolio over the last four quarters.
We gave each of those customers an ‘Outcome’ (an end result of where they
went) and a ‘Cause’ (the reason that they ended up with that Outcome).
We analysed the data and found some interesting points. Here are a few of
the stand-out points:
The top four ‘Outcomes’ were ‘Conventional’, ‘Competitor’, ‘No Longer Need
an Office’ and ‘Closing London Office’.
The top ‘Cause’ by sqft was ‘Short Term Project Space’ and the top ‘Cause’
based on highest number of customers was down to ‘Reduce Cost’.
We found that ‘Length of Stay’ was a factor – we saw from the data that most
clients drop off/leave after year 3, 8, 9 and 10. If we can get to customers
early and get them signed in from the beginning of their year 4, we have more
chance of keeping them.
We have several actions from the above task that we need to investigate
over the coming weeks and we look forward to sharing more updates on
this shortly.

July 2019