Consultancy Report for Wolters Kluwer (UK) Ltd

Abstract

Our Project This group has consulted for Wolters Kluwer (UK) Ltd on possible ways of improving their customer retention in this period of Covid 19 through the maximisation of interaction with customers. Our Research It was conducted using different types of research method: Literature review, internal research including document analysis and process analysis. Survey was conducted with 44 participants from recorded new customers after they were sampled through snowballing. The findings from the research were used to make recommendations for the company to improve on customer retention. Our Deliverables The deliverables include; Clear explanation of the new customers experiences from interacting the company. The result of the survey depicting the focus and interest of customers while dealing with the company. It was derived that interaction is not the core focus for business customers while dealing with the company. Their satisfaction is derived from quality of product and pricing. Another deliverable is the presentation of the current trend in terms of pricing sensitivity and reduced procurement of Information Technology (IT) service due to the Covid 19 pandemic. Our Recommendations The following are the recommendations that was derived from the findings; The company should review the pricing strategy of their product range. The company should focus on identifying the existing profit margins from each product/ service offered to the customers. The company should revise price as part of the new contract should only be agreed upon if the clients agree to sign a contract extension for a fixed period (e.g. two further years). The product and service development team at Wolters Kluwer should regularly review the quality of the service provided to the clients.