Data to Dollars: Practical Steps to Increase Customer Retention by 50% for IT Businesses
November 20th 2024 I SEASON 2 I EPISODE 19
You and I know that acquiring a new client can be five to ten times more expensive than retaining an existing one.
In this episode, we’re going to look at how data can transform customer relationships and build long-term customer loyalty.
To bring this topic to life, we’ll follow the story of John, a CEO of a small IT company that’s struggling with client retention. Despite great initial engagements, John finds that many clients don’t return after their first project. He’s eager to solve this, but he’s unsure where to start.
In today's episode, with the help of our guest, my great LinkedIn friend Manuel Barragan - who’s the CEO - CIO - CDO (Chief Digital / Data Officer) at Digital Transformation in Mexico City, we’ll explore how John could use data to better understand and retain his clients. Let's Dive In!
Show notes
In this engaging and cinematic episode of The Corporate Life Podcast, we explore how data can revolutionize customer retention for small IT businesses. Join Hina as she dives into the story of John, a struggling CEO trying to solve the puzzle of client retention while juggling the demands of scaling his business.
With the expert insights of Manuel Barragán, a data-driven leader and CIO/CDO specializing in digital transformation, we uncover practical, affordable strategies to harness data for client retention. Discover how even small businesses can use simple tools like Google Forms and CRM systems to track trends, anticipate client needs, and create personalized experiences that foster loyalty and profitability.
Key Highlights
The Cost of Retention vs. Acquisition:
Why retaining clients is 5-10 times cheaper than finding new ones.
Starting Small:
Practical ways John and CEOs like him can begin using data without feeling overwhelmed.
Personalization at Scale:
How to turn insights into meaningful, customized client experiences.
The Power of Patterns:
Spotting trends and acting before disengagement occurs.
Fun Twist:
A creative take on data as a loyal companion—complete with a dating profile!
Closing Remarks:
Whether you're looking to retain your first clients or deepen relationships with existing ones, this episode is packed with actionable tips and a sprinkle of humor to keep things light.
Take Hina's challenge at the end of the episode: track one area of client interaction this month and see how it transforms your business relationships!
ABOUT OUR GUEST EXPERT : MANUEL BARRAGAN
Manuel Barragan - our guest today is a seasoned Digital Transformation leader and founder of Digital Transformation Strategist (dtstrategist.com). With extensive experience as a CEO, CIO, and CDO, he specializes in transforming business culture, processes, and technology to drive customer-centric innovation and operational excellence.
Known for his human-centric, data-driven approach, he empowers teams to leverage digital tools, streamline operations, and enhance customer and employee experiences. His strategic insights have helped organizations redefine their digital presence and achieve sustainable growth.
CONNECT WITH MANUEL
WEBSITE I https://dtstrategist.com/
LINKEDIN: https://www.linkedin.com/in/manuelbarragan/
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Please feel free to reach out to us for any questions.
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Check out Hina's books:
https://amzn.to/3B65Wz7
CONNECT WITH HINA
WEBSITE I https://authorhina.com
LINKEDIN I https://www.linkedin.com/in/coach-authorhina/
Email I connect@authorhina.com
Theme Music Credit
Happy Days In Summer by MusicLFiles
Link: https://filmmusic.io/song/8020-happy-days-in-summer
License: https://filmmusic.io/standard-license
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