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LONDON, ENGLAND, March 20, 2013 /24-7PressRelease/ -- The London-based company have been monitoring their customer service standards over the last 6 months in a pledge to improve the ROI for their media subscription clients.
La Dominion Acquisitions Ltd Managing director Adina Stoleru implemented customer quality control measures in order to maintain long-term client relationships: "In the sales industry, we mostly concentrate on new customers; however it is far more cost-effective for businesses to retain existing customers as well. I realised that to generate our clients the maximum income, we needed to be delivering quality as well as volume - one customer that subscribes for 3 years is more valuable than 3 customers that cancel after a year. Research demonstrates that customer service is the single most important factor in customer retention."
Research by Accenture, outlined in the MarketingWeek article 'A better deal is no comparison to great service' shows that 55% of consumers have switched brands in the last 12 months, mainly due to poor customer service. Word-of-mouth and online peer reviews are extremely important, as 83% of respondents said they would be happy to report a negative customer experience to others. Inc.com's article 'Best Ways to Keep Customers from Leaving' reports that the typical sales conversion rate for new customers is around 5% - this rises to 70% conversion for existing customers, meaning that once a customer is lost, 10 times more effort is required to regain the lost income. The article, citing research from CRMGuru, reveals that customer service is three times more important than price when it comes to retaining customers.
La Dominion Acquisitions have concentrated on improving their point-of-sale customer interactions, which has helped the firm increase their retention rates. New customers are recruited on a person-to-person basis, allowing the customer to ask questions before the contract is signed. Adina Stoleru explains: "Our greatest asset as a direct sales company is the ability to interact and build rapport with consumers. Over the last 6 months we have been focusing on providing a quality customer experience, ensuring they receive the subscription package most suited to them." La Dominion Acquisitions are proud to report that their customer retention rate is now at 78%, an improvement of 7% since November 2012. Managing director Adina Stoleru says: "I am proud of what we achieved so far, but this is just the beginning. Our goal is by June 2013 to have achieved 85% customer retention, so we can solidify La Dominion Acquisitions' reputation as an industry leader in both quantity and longevity of sales."
Based in London and Reading, La Dominion Acquisitions anticipate that their delivery of long-term, quality customers will aid their expansion into new markets by the third quarter of 2013.
Read More: http://www.dominionacquisitions.co.uk
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