Accessibility : Customer should know how to complain. As a rule of thumb, the more formal the system for lodging complaints, the less accessible it is to customers.
Responsiveness: Complaints need to be dealt quickly. The quicker the complaints are dealt with, the higher the customer satisfaction.
Customer-focused approach: A service provider who adopts customer-focused approach, invites complaints and indicates commitment of resolving complaints by its words and actions in all fairness.
Accountability: Someone in the organization has to take responsibility for complaint handling.
Continuous Improvement : This is about looking at the root causes and fixing them.
What is CRM ? The process includes collecting customer data, analyzing this data to make decisions which helps to make new customers and satisfy the existing ones.
Initially, there were Door-to-Door sales forces to approach the customers.
Then, Mass marketing replaced the intimacy of a direct sales force.
Later, Targeted marketing evolved. Use of direct mail and telemarketing.
Latest is Customer Relationship Management (CRM), the next step in Evolution. A concept supported by latest technologies.
LTV & CRM
The primary purpose of any business is to win and keep customers. Its competitors also seek to do the same. Most successful firms have developed capabilities for attracting customers through their marketing programs. But they have shown mixed results when it comes to retaining these customers.
LTV & CRM
Customer Relationship Management helps businesses in successfully implementing strategies aimed at winning and retaining customers profitably. It is also helping businesses shift from a short-term transaction based mode of operation in their interactions with customers to a long-term relationship mode.
Measuring the effect of new CRM strategies and tactics on L TV
Slow day rewards
Rewards for large baskets
Customer specific pricing: card members get lower prices
Rewards for frequency
Personal recognition & relationship with a newsletter
Campaigns to increase card usage
Free ice cream on customer’s birthdays
Coupons to encourage secondary shoppers to become regulars