CSM Customer Relationship Management & Retention 5

Question 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:

Accepted Answer

Create an accelerated onboarding program with clear milestones and dedicated support

Answer

Extend the onboarding period to reduce pressure on new customers

Answer

Assign fewer resources to onboarding and focus on new sales

Answer

Offer a discount to customers who complete onboarding late

Question 2

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

Accepted Answer

Identifying adjacent needs and positioning complementary products or services

Answer

Competing on price alone against incumbent vendors

Answer

Reducing account manager contact frequency

Answer

Sending monthly newsletters with product updates

Question 3

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

Accepted Answer

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

Answer

Locking customer records after a sale is finalized

Answer

Automatically closing support tickets after 48 hours

Answer

Restricting CRM access to senior sales managers only

Question 4

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

Accepted Answer

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

Answer

Renewing all contracts automatically without review

Answer

Reducing check-in calls after the first year

Answer

Offering a loyalty discount only at contract renewal time

Question 5

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

Accepted Answer

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

Answer

The sponsor may request too many product enhancements

Answer

The sponsor will negotiate lower pricing at renewal

Answer

The CRM system may not support single-contact accounts

Question 6

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

Accepted Answer

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

Answer

To assign blame to the responsible account executive

Answer

To prepare legal documentation for contract disputes

Answer

To remove the customer from the CRM system permanently

Question 7

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

Accepted Answer

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

Answer

Recording all customer phone calls for compliance purposes

Answer

Monitoring competitor customer reviews online

Answer

Automating customer survey distribution without analysis