This document discusses strategies for businesses to increase customer loyalty and retention. It recommends that businesses prioritize improving loyalty among existing customers, as it is less costly than acquiring new customers. Some key strategies mentioned include analyzing customer spending trends to forecast future spending, lowering the cost of services provided to customers, selecting and implementing practical loyalty-building strategies, educating customers on product usage, rewarding loyal customers, identifying low-value customers, and improving the customer experience.

1. DEVELOPINGYOURCUSTOMER
COREVALUES
BACKOFFICESUPPORT
SERVICESDELHI
TopReasonsforprioritizing
customersatisfaction
TopReasonsforprioritizing
customersatisfaction
STRATEGIESTHATENHANCE
CUSTOMERVALUE
CUSTOMERLOYALTYCANBEINCREASED
TORETAINCUSTOMERSLONGER
Increasesalepercustomer
Cross-sellingandup-sellingarethe
mostcommontacticsusedforincreas-
ingsaletoyourexistingcustomers.
Customerloyaltycanbeincreased
toretaincustomerslonger
ABusinessshouldfocusitsstrategies
toimprovetheloyaltyoftheexisting
customerswithforemostpriority.
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1. Consumerloyaltyandrepurchaseintentionscanbesignificantlygauged
2. Itcanmakeasignificantdifferentiation
3. Customer’slifetimevaluecanbeincreased
4. Positivewordofmouthrecommendationscangetincreased
5. Existingcustomerscanberetainedmoreeasily
Choosetheappropriatetiming
Itisalsoimportanttounderstandandchoose
theappropriatetimetocontactthecustomers
andwhentoselectthebestcommunication
channels.
ABusinessshouldfocusitsstrategiestoimprovetheloyaltyoftheexistingcustomerswith
foremostpriority.Itisaworthwhileeffortandcancostmuchlessthantodevelopanewcustomer
foraBusiness.YoucanengageBackofficesupportserviceswhocandeliveranexcellentserviceto
increasecustomerloyalty.
ThereisanumberofwaysthroughwhichthecustomerloyaltyforaBusinesscanbeenhanced
veryeffectively:
Analyzethespendingof
thecustomers
Youneedtoanalyzethecurrentspending
trendsofthecustomersandneedto
forecastwhatwillbethelikelyspending.
Yourcostofserviceneed
tobelowered
Thisisofparamountimportanceforyour
Businesstolowerthecostofserviceprovided
toimproveBusinesseffectiveness.
Selectionofthepractical
strategies
Youneedtoselectafewpracticalstrategies
forimplementationandprioritizeonwhich
strategiestowork.
Evaluationoftheproduct
bythecustomers
Youneedtoeducateyourcustomersaboutthe
usageofyourproductsandserviceslestthey
leaveyourproductsandchooseothercompany
products.
Rewardaloyalcustomer
Itisadelightforanybodytoearnareward
andfreegiftanditcaneasilymotivatea
customertodomoreBusinesswithyou.
Identifylow-value
customers
YoucanengagetheBackofficesupportservices
Indiatoidentifythelow-valuecustomersandtry
toimprovethesituation.
Improvecustomerexperience
Alwayslookforthefactorsthatarecausing
inconveniencetocustomers’userexperiencein
yoursiteandtrytoimprovethesefactors.