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Programme of Corporate Checkmate was organised by CRMC Department on 13th Feb, 2016. The topic was “CUSTOMER ACQUISITION VERSUS RETENTION”. There were 6 speakers from various industry sectors including Mobile Services, Media Sales, Advertising Sales, Financial Services, Household & furniture fittings and in the field of CRM.

Speakers:-

Prof.  Cherian George told the participants about the  Corporate Checkmate programme  and explained the format. Dr JK Goyal, Director delivered the welcome address and  Ms Pooja Jain, Associate Professor introduced the speakers and moderated the session.

Speakers presented their views based on their knowledge and experience. Event was attended by our students from PGDM-General, International Business & Retail Management and the faculties.Highlights of the discussions are as under :-

Mr. Pankaj  Belwariar, VP Sales, Sakal Media Group discussed that in advertising industry 20% of customers generate 80% of company’s sales. He emphasized that in order to grow business new client acquisition needs to take place. Over pampering of customers is good but in the long run customers will be become over demanding and it will lead to a lot of cost burden on the company.

Mr. Harish Yadav, National Accounts Manager, On Mobile Global Ltd. Discussed that in Mobile industry only 1%business comes from customer acquisition whereas 99% business is based on customer retention. It is important to customise offerings and offer superior value to retain customers. He discussed the various tools like BI engine and Google analytics used to understand customer preferences in mobile business.

Mr. Rohit Kumar Jain, Sr. VP & Regional Head, Eastern Financiers Ltd discussed that relationships are quite strategically important in financial markets. Financial industry does not provide instant gratification to customers. It takes a lot of time to create and nurture relationships. Understanding the needs of customer is the most important criterion in developing relationships and accordingly rewards are are designed for customers in order to create loyalty.

Mr. Suman Kumar,  AGM Corporate Sales,HT Media Ltd discussed that if you acquire well then retention of customer will inevitably take place. It is important to deliver the what has been promises  to customers. He made the discussion in context to FMCG industry.

Mr. Divyankar  Goel, AGM Sales & Marketing,  Hettich India emphasized on providing good quality of products to its customers. He discussed the need to innovate and provide variety to customers in order to retain them. He discussed that if a product is being launched in a new category then stress should be on customer acquisition whereas for existing products the emphasis should be on innovation and retention.

Ms.  Jyoti  Kamaal, MD, Pan Asia Marketing Solutions discussed the importance of data collection and sharing it transparently across all touch points. Customers will come back to the organization if company provides them with something meaningful and beneficial. Customer acquisition, Retention and loyalty are dependent on good service.

The session was followed by a Question answer session. The event was well appreciated by the students and the faculties.