According to Bain & Co. a 5% increase in client retention can increase a company’s profitability by at least 25%” said Mike Jacoutot, Founder & Managing Member, Butler Street.”That is why it is step number one in our service offering.
Industry studies prove it costs five times more to acquire a new client than it does for a company to keep an existing client. That is precisely the reason why Butler Street, a process-driven sales and client retention services company, says “Client Retention First!” when implementing their ClientFirst A.R.E.™ system, proven over the past twenty years.
“According to Bain & Co. a 5% increase in client retention can increase an organization’s profitability by 25% or more,” said Mike Jacoutot, Founder and Managing Partner of Butler Street. “That is why client retention is step number one in our service offering. Loyal clients become great references so that you may sell new clients.”
When an organization has hundreds or even thousands of individual clients, it becomes very challenging to identify and prioritize a client who may be getting ready to leave for a competitor. Most organizations don’t have the processes or data to answer that question. Butler Street turned to Big Data for answers.
“Over the past twenty years we’ve developed industry-specific retention methodologies,” said Mary Ann McLaughlin, Managing Partner of Butler Street, “And at Butler Street, we are able to wrap our strategy around an entire client base and not just the largest accounts. We reached out to NLP Logix to develop a predictive modeling solution to integrate into our proprietary ClientFirst A.R.E.™ system.”
NLP Logix is a Jacksonville, Florida-based predictive modeling and machine learning company which has developed retention models for multiple industries. “We are thrilled to be working with Butler Street on client retention methodologies,” said Matt Berseth, Chief Scientist, NLP Logix. “It is exciting to integrate our award-winning modeling techniques within a proven system like ClientFirst A.R.E.™”
About Butler Street
Butler Street is a process-driven, performance improvement company focused on client and talent development. The company’s proprietary ClientFirst A.R.E.™ and TalentFirst A.R.D.™ programs are designed specifically to help companies create a client for life mindset in an effort to grow their revenue and develop their employees. For more information about Butler Street LLC, please visit http://www.butlerstreetllc.com.