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3. How can companies attract & retain the right customers and cultivate strong customer relationships

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Bhavnoor Singh
Bhavnoor Singh

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CUSTOMER RELATIONSHIPS How can companies attract and retain customers ? & How can they cultivate strong customer relationships ?
BY USING INFORMATION ABOUT CUSTOMERS OUR AIM IS TO ….
CULTIVATE LONG LASTING
WHAT IS CUSTOMER RELATIONSHIP MANAGEMENT ? Crm is the process of carefully managing detailed information about individual customers and all customer “touch points” to maximize customer loyalty
PERSONALIZING MARKETING ENSURES THE BRAND IS RELEVANT TO AS MANY CUSTOMERS AS POSSIBLE VIA THE USE OF INTERNET – GIVEN THAT NO TWO
PERSONALIZING MARKETING Permission Marketing One-to-One Marketing
The practice of marketing to consumers only after their ”expressed permission” PERMISSION MARKETING
One-to-One marketing is done for exclusive customers only
Identify prospects & customers Differentiate customers by needs and values to company Customize for each customer Interact to improve knowledge base about individual needs One-to-One Marketing
CUSTOMER EMPOWERMENT THE POWER IS WITH THE CUSTOMER
CUSTOMER REVIEWS & RECOMMENDATIONS
How to ATTRACT AND RETAIN CUSTOMERS ?
REDUCE CUSTOMER DEFECTION RATE
UNDERSTAND RETENTION DYNAMICS & CUSTOMER CONVERSION RATES
MANAGE THE CUSTOMER DATABASE
BUILDING LOYALTY
Building Loyalty Interacting with Customers Developing Loyalty Programs Creating Institutional Ties Win-Backs
3. How can companies attract & retain the right customers and cultivate strong customer relationships

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