Customer Retention for training companies

In any industry customer retention is a priority today. Not only are existing customers easier to convert than new customers but their value to the business is more significant too. For example, increasing customer retention by as little as 5% can generate an up to 95% increase in profit. Prioritising customer retention means paying attention to the details that have previously put customers off, as well as identifying what it is that customers really want.

Essential customer retention tips

If you get complaints, deal with them quickly

No one likes receiving complaints. However, they also represent a great way to get insight into how your business is performing as far as its customers are concerned. Complaints handling also offers an opportunity to strengthen customer loyalty and improve retention – make sure you resolve any complaints quickly and generously and your retention levels will shoot up.

Make feedback a priority

There is no better way to find out whether your service is meeting the needs of its target market than to ask them. The most effective feedback is done in stages, for example immediately after the end of course and then three months after that. If you want to make the most of the opportunity for feedback then avoid a superficial feedback form – a “happy sheet” – and ask questions that go deeper into how the training completed has benefitted the individual in their role.

Prioritise the customer journey

It helps to walk through this as a customer might so that you can identify any potential obstacles or issues that could arise. Look for ways to make your infrastructure more efficient, for example linking up pre and post course communications, back office management systems and your website. Make sure your CRM and training management platforms are connected so that you’re making using of all the potential opportunities this offers for improving retention, as well as the data analytics available.

Stay on top of learner progress

It’s worth investing in a system that provides tools that enable you to stay on top of the learner journey. For example, if you’re able to notify customers when it’s time for refresher training you’ll not only be helping them to stay up to date but also creating an opportunity to bring them back to your service as a customer too.

Deliver exceptional customer service

It’s the service that customers receive that will ensure that they return to you – and that they choose you over and above a competitor. Look for ways to differentiate your offering on the service front, whether that’s personalising communications by using data analytics or employing innovative training management to make learners’ lives easier. Remember that, thanks to the prevalence of online reviews, the kind of service that you provide will be visible for any potential customers to see online so it’s well worth investing in.

If you’re looking to improve customer retention for your training business these key tips will help to get your numbers up. The right training management software can make a big difference to the tools you have to improve customer retention.

Get in touch with Enterprise Study today on 01242 254 254.

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The goal of Enterprise Study is to make it easy for buyers and sellers of training to transact in harmony, in a cost effective way. We continually innovate, whilst already delivering a powerful suite of learning, compliance and talent management tools to support organisations of all sizes.