There are many well quoted statements about how much more it costs to acquire a new customer than to keep an existing one.

In reality the figures vary industry to industry, but there is a simple truth in the statement.

First and foremost we help organisations understand which customers are at risk and how much business they represent (current and future value). One client believed they were losing as much as 30% of new business each year and had budgeted a considerable sum for retention initiatives. Detailed analysis revealed a very different picture, with just 12% of first year customers being lost. Understanding this and being able to ring-fence 'at risk' customers for save activity not only reduced lapsation, it also meant funds that would have otherwise been spent unnecessarily could be focused elsewhere in the business to increase value.

Recommendations encompass anything from process management reviews, to trigger programmes, to multi-channel communications initiatives.

Our experience in this area includes:

- Airlines

- Automotive

- Banking

- General Insurance

- Life Insurance

- Retail

- Media