Awards 2014, category two: Gasp for Skillsoft
With the UK elearning market plateauing in recent years it’s become increasingly important for Skillsoft to focus on customer retention.
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A quarterly Risk Report is produced through Skillsoft’s CRM software. Much like a credit rating, customers are calculated an ‘account health’ score based on their activity, engagement level, contractual agreement and expiry date. Any customer with an account health of <75% is flagged on the report. In the client Quarter 4 of 2013 (Nov ’13 – Jan ’14), a pilot campaign was trialled to improve chances of contract renewal and move customers off the Risk Report.
Our approach was to develop a focused communication strategy empowering Skillsoft to take control of the customer conversation. The solution wasn’t about glamorous creative but a structured, measurable 8-week re-engagement programme to get Skillsoft back in the customers’ line of sight.
The objective was to re-connect Skillsoft to these accounts, creating opportunities for meaningful discussions around account health and securing at least £50,000 worth of renewals. On successful completion, the campaign would become a mainstream process for future risk accounts.
Nine of the ten companies responded to the campaign, six accounts will renew in 2014.
The combined renewal value stands at £503,285 delivering over 5,000% ROI.