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Customer Relationship Management & Retention Flashcards

7 cards from real CSM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Customer Relationship Management & Retention flashcards as text

  1. A sales manager notices that customers who complete onboarding within 30 days have a 50% higher 12-month retention rate. The BEST response is to:

    Answer: Create an accelerated onboarding program with clear milestones and dedicated support

    Faster time-to-value through structured onboarding improves retention, so accelerating this process with milestones and support is the optimal strategy.

  2. Which CRM strategy is MOST effective for increasing share of wallet within an existing account?

    Answer: Identifying adjacent needs and positioning complementary products or services

    Growing share of wallet requires understanding the customer's full business needs and proactively offering solutions that address adjacent pain points.

  3. A 'closed-loop feedback' process in CRM means:

    Answer: Collecting customer feedback, acting on it, and following up to inform the customer of changes made

    Closed-loop feedback ensures customers know their input was heard and acted upon, which builds trust and demonstrates responsiveness.

  4. Which of the following scenarios represents a 'success milestone' approach in customer retention?

    Answer: Defining specific outcomes the customer should achieve at set intervals and celebrating them jointly

    Success milestones set clear expectations for value realization and create positive emotional touchpoints that reinforce the customer's decision to stay.

  5. In a CRM context, what is the main risk of relying solely on a single executive sponsor at a customer account?

    Answer: If the sponsor leaves, the relationship and renewal may be jeopardized

    Dependence on one executive sponsor creates a single point of failure; if that person leaves, the account relationship can collapse rapidly.

  6. What is the purpose of conducting a 'loss analysis' or 'churn post-mortem' after losing a customer?

    Answer: To identify systemic patterns and process gaps that can be corrected to prevent future churn

    Loss analysis turns churn into actionable intelligence by identifying the root causes and process failures that can be addressed systematically.

  7. A sales manager implements a 'voice of the customer' (VoC) program. What is the primary objective?

    Answer: Systematically capturing customer needs, expectations, and feedback to drive product and service improvements

    A VoC program creates a structured mechanism to gather and act on customer insights, ensuring the company evolves in line with customer expectations.