What to Look for in a Facilities Maintenance Service Provider: Data-Driven Decisions, High Customer Lifetime Value and Retention
Contributed by Mark Gilbreth, Regional Sales Executive
Most facilities maintenance companies focus more attention on the acquisition of new customers than customer retention. On the contrary, service providers with high customer retention understand that it costs less to keep existing customers than it does to acquire new ones. Put simply, increasing the value of existing customers is a great strategy for boosting revenue and driving growth. The service provider’s success in achieving high customer retention rate also benefits the customers as they receive consistent quality standards throughout their longstanding relationship with the facilities maintenance partner. Since loyal customers also account for a substantial portion of the profits, the service providers also ensure that they make data-driven decisions in choosing and applying metrics for service delivery, continuous improvement, work orders, and critical success factors.
Facilities maintenance companies can accumulate big volume of data from their existing customers and analyze it to gain insights into a better understanding of their business, why they value the services they receive, any forthcoming requirements, and strategies to deliver improved services in the long run. As a result, customer retention measures by facilities maintenance companies translate into active efforts to develop customer loyalty by delivering experiences that they love. The service providers also gain a competitive edge by getting to know their customers well and leveraging those insights to set SMART (Smart, Measureable, Actionable, Relevant, Time-bound) goals for each customer’s unique, tailored scope of work.
Diversified Maintenance maintained a high customer retention rate of 96.5 percent during 2018-19. With the Company’s commitment of keeping true to the values of perseverance, integrity, passion, and trustworthiness throughout the pandemic, the Client Relations Team successfully increased the customer retention rate to 98 percent in 2020-21. To learn more about the benefits of partnering with a facilities maintenance company with a dedicated team that works toward fostering customer loyalty, enhancing communications, and increasing customer lifetime value, send me a note at: Mark Gilbreth firstname.lastname@example.org.