Telephone Cancel Saves is a new value-added service implemented by Quadrant to save customers wishing to cancel their subscriptions via telephone or email. This tailored service has already reduced overall cancellation rates for Reed Business Information (RBI) by 15-42%. RBI confirms an additional benefit of the improved retention rates are the savings gained on administration and marketing costs for customer acquisition.
David Wilson, managing director, Reed Business Information comments on the Telephone Cancel Saves solution: “Since the launch of the Telephone Cancel Saves program the team has saved over 18% of all cancellation calls, across the portfolio, with some markets achieving as high as a 42% save rate. This new service has a tangible positive impact on our brands; retaining subscriber volume and saving revenue. I am extremely pleased with the progress so far and we are looking at extending the save and up-sell options further in partnership with Quadrant.”
Dedicated Quadrant customer service agents handle all calls from customers wishing to discontinue their subscriptions. The agents’ negotiation skills are combined with tempting offers from the publisher to effectively persuade customers to extend their print, digital or bundle agreements. There are also opportunities to suspend delivery or up-sell bundle packages to retain revenue, says Quadrant.
“As any business will attest, it is far more cost effective to retain existing customers than to go out and win new ones,” states Adèle Nichols, Quadrant’s director of fulfilment and customer services. “In addition to our clients’ retaining subscribers, this service provides valuable feedback on the most common reasons their customers give for ending their subscriptions.”
