CCRM Customer Retention 2

Question 1

A client has not engaged with your firm in 90 days. Which proactive retention tactic is most appropriate?

Accepted Answer

Schedule a personalized re-engagement call referencing their account history

Answer

Personalized outreach referencing specific account history demonstrates attentiveness and increases the likelihood of re-engagement.

Question 2

What does the concept of 'customer lifetime value' (CLV) most directly inform in a retention strategy?

Accepted Answer

How much investment is justified to retain an existing client

Answer

CLV quantifies the long-term revenue a client represents, helping managers determine appropriate retention investment thresholds.

Question 3

Which metric best measures whether clients are expanding their use of your services over time?

Accepted Answer

Net Revenue Retention (NRR)

Answer

NRR captures both retained and expanded revenue from existing clients, making it the strongest indicator of account growth.

Question 4

A client expresses frustration about a billing error. What is the best first step a relationship manager should take?

Accepted Answer

Acknowledge the error, apologize sincerely, and commit to a resolution timeline

Answer

Acknowledging the issue and setting clear expectations rebuilds trust quickly and prevents further escalation.

Question 5

Which of the following is a leading indicator that a client may be at risk of churning?

Accepted Answer

An increase in support ticket volume

Answer

Rising support ticket volume often signals unresolved frustration that can precede a client's decision to leave.

(CCRM) Certified Client Relationship Manager Practice Test