We’ve been talking lots about retention lately and how we can better understand who is leaving our business and why. We need to be mapping who is leaving our business and why they are leaving. This involves interviewing both leaving and existing clients to find out what they what. Like with many tasks inside the business, who owns retention? Who is responsible for seeking feedback and documenting ways to improve retention?
Its a great question.
Wendell’s has just broken 700 managments, and we only now have a dedicated person for retention. We have one of our former PM’s and COO back on part time work after maternity leave and she is heading up CX.
Her mandate is to conduct exit interviews with clients, review the Landlord surveys, and ensure that new managements are settled in. Its a new role, it took us a while to “Justify to our selves” as it is technically not income generating, but if we can reduce the churn rate then it is for sure!
Its amazing that as business, we put so much into Growth, but nothing into retention other than to “Hope the PM’s are doing a good enough job”.
Love to know if anyone else has had success with a CX role or Client Retention role. Ours is due to start in 2 weeks… Fingers crossed!
@jodie.stainton How do you guys manage CX at Corronis? I would love to know what success you have, and if having a dedicated resource in this area helps with the churn rate?
Firstly, Andrew Coronis and Jodi Ford receive a copy of every single NPS survey returned and start their morning that way.
The person who the comment is about receives a copy as does their direct leader.
Jodi and the area leaders go through the comments and work to resolve any issues by fixing up processes.
With our monthly training, we’ll highlight comments from NPS and discuss as a group on how to solve issues so everyone understands where we’re going and why.
If an owner is leaving the business, it’s up to an Area Leader to call that owner and find out why and try to save them if it was a service issue.
We document why each owner leaves our business into three categories, sold, service, moving back in. If the owner says moving back in, we check that the property isn’t with another agent in the next month.
Our marketing team monitor online reviews and again there is a process for managing those now. If a negative review comes in, the review is sent to both the person and the Area Leader and the Area Leader is responsible for making contact. This is all documented to track.
Thanks @jodie.stainton, that is awesome! It seams that it is truly embedded in your DNA!
I love that the leaders in the business start their mornings like this, its awesome!
Well done, just another reason why you guys are clearly leaders in the field.