Boosting Client Success and Retention Through Tailored Support Systems
CASE STUDY
Company: Codi
Industry: Real Estate & Flexible Workspaces
Key Challenge: Enhancing client onboarding and engagement to improve retention in a highly competitive workspace market.
Challenge
As Codi expanded, client retention became a key focus, with specific challenges including:
Enhancing efficient onboarding processes to set clients up for success from the very beginning.
Maintaining high client engagement to ensure clients were satisfied with their workspaces.
Ensuring client satisfaction despite the complexities of operating within a hybrid work model.
Solution
Execution of a client retention strategy centered on streamlined onboarding, personalized engagement, and proactive client success initiatives, increasing client retention from 52% to 86% while enhancing satisfaction and operational clarity.
Optimized Onboarding and Client Journey:
Implemented a client portal deck during the onboarding process to introduce clients to key features like placing and approving orders, viewing status updates, requesting services, and managing furniture requests.
Introduced an additional launch call before onboarding to ensure clients understood and were comfortable using the portal before moving into Codi workspaces.
Tracked the increased usage of the client portal after onboarding improvements, providing insight into how clients benefited from early introduction to key tools.
Personalized Engagement:
Client Success implemented in-person check-ins, which proved to be the most effective in driving client satisfaction. These check-ins provided clients with personalized support and allowed Ash to address concerns directly.
Partnered with the Support team to implement a new CRM system to better manage the client pipeline, enhancing how client information was tracked and providing visibility into the client journey.
Increased retention rate from 52% to 86% as a result of enhanced engagement and personalized attention.
Client Success Team:
Measured key metrics like churn rate, response time changes (qualitative), client satisfaction, and onboarding efficiency to guide improvements in the client experience.
Conducted ongoing 1:1 training sessions with the Client Success team to implement creative problem-solving approaches and improve service delivery based on client feedback.
Addressing Client Challenges:
Developed strategies to combat misconceptions about virtual office support, which was a significant barrier. Clients initially had difficulty understanding the benefits of virtual support until they were fully onboarded onto the client portal.
Added one additional onboarding call closer to the start date. This process provided clarity and ensured that clients knew how to fully leverage the virtual office support capabilities of Codi.
Results
Retention Rate: Achieved an 86% client retention rate, up from 52%, by focusing on effective engagement and personalized support.
Renewal Impact: A 21% decrease in client churn as previously wavering clients opted to renew after experiencing the benefits of a well-structured onboarding and support process.
Client Satisfaction: Consistent positive feedback highlighted the value of in-person visits, regular check-ins, and Ash’s personal involvement in resolving escalated issues.
Portal Usage: Increased adoption of the client portal contributed to smoother operations, greater client independence, and satisfaction with virtual office support.
Key Takeaways
Proactive Engagement: Personalized, in-person check-ins can have a significant positive impact on client satisfaction and retention.
Effective Onboarding: A structured onboarding process with multiple touchpoints ensures clients understand the value of the services and feel comfortable using key tools.
Managing Churn: Providing clarity early in the process and ensuring consistent client touchpoints can drastically reduce churn and boost client renewals.