1. Article Review 2
HOW TO KEEP LOYAL RELATIONSHIPS WITH
SERVICE CUSTOMERS USING HOLISTIC
MANAGEMENT
Introduction:
In a world where competitionis becoming everfiercer, businessesneed to
implementcustomerrelationship management, in order to compete their
rivals. First thing first.
Understanding of Customer Relationship:
Keeping Loyal Relationship with your customers is all about understanding
who your customers and potential customers are, and nurturing the
relationships you have with them. It is also about understanding the needs
and behaviors of these people,whilst reacting to them, and adapting as
these change.
Ensure yourcustomers feel Special:
Keeping customers happy isn’t just about offering cheap deals and quality
products.To satisfy customers,you need to make them feelvalued. It has
been observed that Unsatisfied customers are less likely to return and
more likely to go elsewhere. A whopping 96% of customers don’t complain;
they will simply stop using your services.Because of this, it’s important to
make customers feelvaluable from the get go. Here are some ways to do
it.
Improve CustomerExperience-
Conversion Optimization
On demand CustomerService
Reward Loyalty
2. Cunsumer loyalty is aboutengagementand building relationships
Cunsumer loyalty can generally equate to customerengagement,if your
consumers are willing to spend time engaging with your brand they are
becoming loyal. Always give them the same courtesy back and constantly
engage. Engagementbreed’s positive connections and the more you
interact in a positive way, the more loyal your customers become.
Customeralways appreciate the manner in which the company and its
partners deal with dissatisfaction,inefficiencyand opportunity.
Essentials steps in Obtaining loyal customers in presentEconomic
uncertainities:
It is very important to understand the cunsumer’s behavious , that how
customers buy a product , what products are purchased together and what
brings in them a satisfied consumerexperience. For this it is important to
keep an eye on the captured or recorded datastored inside the company,
by conducting an audit of all customerinformation, available within the
organization.
Following are basically three steps that evolve around maintain the Loyal
Cusumers that stick by your company.
-deeplyunderstatingthe customer
- listeningto them
- Provide whatthey are askingfor
CustomerRules in the economic uncertainty and economic turbulent for
two main reasons.
-ConsumersGive growth for the company.
Growth” comes from the knowledge that even in the worst economic
downturn, some customers will still be spending,some customers will still
increase in value, and some customers will pay a premium to stay with the
company rather than incur the expense and inconvenience of switching to a
competitor.
-Customer Retention is a Strategicstability:
3. Growth” comes from the knowledge that even in the worst economic
downturn, some customers will still be spending,some customers will still
increase in value, and some customers will pay a premium to stay with the
company rather than incur the expense and inconvenience of switching to a
competitor.
a belief by the customerthat the company has her or his best interest at
heart, and can be depended upon for respect,openness,tolerance, and
honesty
Here are the leading indicators of lifetime value change are:
-lifestyle changes: change in employment, a new household address, the
birth of a child, or an alteration in marital status (married/divorced);
-lifetime value drivers:include variables such as changes in the frequency
of purchases, changes in the mix of products bought, the predicted attrition
likelihood of the customer,and the customer’s estimated “share of wallet” for
your company; in an uncertain economy, there is likely to be increased
variation in these drivers as customers reactto economic conditions and, for
that reason, they contribute to an improved prediction of lifetime value in
tough times;
-behavioral cues: a complaint or a missed payment might signal a pending
decrease in value; while signing up fora newsletter, referring a friend to your
company, or upgrading a service plan might indicate a forthcoming increase
in value;
-customerattitudes: attitudes are important in anticipating increases or
decreasesin customerlifetime value, because changes in attitudes are
precursors of changes in behavior;
CRM Customer Relationship Management:
CRM is about understanding who your customers are in every business.
When you know what makes them tick, you can better target your sales
and digital marketing services, or even the products or strategies that you
sell to match their needs.
By offering a targeted approach, you will not be wasting time in failing to
meet the needs of your customers.You can also develop a personalised
4. approach to your marketing, and focus on those that give you the best
return.
In using CRM to target specificgroups of customers,or even potential
customers,you can improve your offering.This can, ultimately, help to
boostsales and growth, whilst driving customerloyalty.
-Communication Channels:
Having more communication channels is a good thing for a business,but it
also makes the ability to interact with customers,and serve their needs,
something of a challenge
-Improvedexperiences:
Customerexperience management is about making sure that you are
aware of the experiences customers are having with your brand, and
reacting accordingly.
- Focusing yourbusiness
Keeping up to date with customerdemands is essential to ensure you stay
ahead of your competitors.It also offers you the bestchance for business
growth, and for making improvements.
-New Customers:
If you want your business to flourish, you cannot simply rely upon your
existing customerbase to achieve this. You need to implementmarketing
strategies to win new customers over, especially if you operate in a
competitive market.
-Cost Effective:
By building relationships with your customers,you get to understand their
needs and desires,so you can becomemore targeted in your approach.
You can work out which of your customers are profitable for your business,
and which are not.
- Reputation Management:
By giving customers what they need, solving their problems and
responding to ensure that they have a great customerexperience,you
increase satisfaction. This enhances loyalty and boosts your reputation.
5. *Note: Gothrough with this link to give some points in your article regarding
holistic management also you can put your critice and suugestions onto it.
http://holisticpr.com/press/the-need-for-holistic-marketing.pdf
Holistic marketing is, comparatively speaking, a fairly new concept – but
one that continues to gain momentum.
Holistic marketing is a philosophythat drives towards the alignment of your
systems,services,processesand customertouch points, with the end goal
of delivering a seamless,consistentcustomerexperience across multiple
channels. It’s a shared purpose for your people and consistent,integrated
interactions with your customers.
There’s a growing realization of how important this approach is – but, at the
same time, confusionabout how to bestpursue it. According to new stats
from Salesforce, 86% of brand marketers say that building a holistic
marketing approach is a top priority, but only 29% of companies say they
actually have the necessary infrastructure to make this goal a reality..
Conclusion:
6. Building and retaining a loyal customerbase makes sense economically,it
can help your business save money – as well as making money;
It increases your company’s profitability as they costless
They can educate new customers about your customers – saving you
money
Loyal customers tend to spend more with you and your business
profit