Customer Loyalty Linked In

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Three easy ways to assure customer loyalty

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Customer Loyalty Linked In

  1. 1. Customer Loyalty …creating customer evangelists Nancy Kolkebeck 360 ° Consulting
  2. 2. Overview <ul><li>Review the “loyalty” business model and related marketing disciplines </li></ul><ul><li>Examine three key success ingredients </li></ul><ul><li>Discussion </li></ul><ul><ul><li>Share personal experiences, apply concepts, generate insights </li></ul></ul>
  3. 3. Terms <ul><li>Customer Satisfaction vs. Customer Loyalty </li></ul><ul><li>Relationship Marketing </li></ul><ul><li>Loyalty Marketing </li></ul><ul><li>Word of Mouth </li></ul><ul><li>Word of Mouse </li></ul><ul><li>Lovemarks </li></ul>
  4. 4. Creating Customer Evangelists ¹ <ul><li>Acquiring and retaining customers is the job of the entire organization . </li></ul><ul><li>Satisfied customers tell an average of 5 to 8 people about their experience while dissatisfied customers tell 10 to 16 people . </li></ul>¹ How Loyal Customers Become a Volunteer Sales Force by Ben McConnell, Jackie Huba, Dearborn Press, 2003
  5. 5. Loyalty Business Model <ul><li>Company resources are employed to increase the loyalty of customers and other stakeholders </li></ul><ul><li>Expectation is that corporate objectives will be met or surpassed </li></ul><ul><li>Example: </li></ul><ul><ul><li>Quality of product or service leads to customer satisfaction , which leads to customer loyalty , which leads to profitability </li></ul></ul>
  6. 6. Operating Strategy and Service Delivery System
  7. 7. Three Ingredients for Success
  8. 8. 1. Do You Walk the Talk? <ul><li>Have you visited with a customer in the past 90 days? </li></ul><ul><li>Do you gather some form of customer input every month? </li></ul><ul><li>Can you describe, in detail, your ideal customer persona (not demographic)? </li></ul><ul><li>Do you have a customer satisfaction program? </li></ul><ul><li>Is employee compensation tied directly to customer satisfaction? </li></ul><ul><li>Do you know your average customer’s lifetime value? </li></ul><ul><li>Does your organization focus on creating memorable customer experiences? </li></ul><ul><li>Do your customers feel they are part of your extended family? </li></ul><ul><li>Are employees empowered to do the right things for customers? </li></ul><ul><li>Are your customers, suppliers, and employees treated honestly and fairly? </li></ul>
  9. 9. 2008 - 2009 ©
  10. 10. 2. Go beyond numeric scores <ul><li>What do current customers say they love about your company? </li></ul><ul><li>What do they value the most about your company? </li></ul><ul><li>What do they say you should improve , or when was the last time they say you angered them ? </li></ul><ul><li>What do they say when they recommend you to others? </li></ul>
  11. 11. 3. Create a Customer Advisory Board
  12. 12. Discussion

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