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HOW TO REDUCE YOUR CHURN RATE & INCREASE CUSTOMER LOYALTY

2013 MarketingProfs B2B Forum Presentation with Joanna Lord, Renea Nielsen and Susan Emerick

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HOW	
  TO	
  REDUCE	
  YOUR	
  CHURN	
  RATE	
  &	
  
INCREASE	
  CUSTOMER	
  LOYALTY
Joanna Lord
CMO
@joannalord
	
  
Renea Nielsen
Customer Success Strategist
@renoodles
	
  
Susan Emerick
Manager of Social Programs
@sfemerick
	
  
MARKETING	
  PROFS	
  B2B	
  FORUM,	
  2013	
  
	
  
WHAT IS CUSTOMER LOYALTY?
“Loyalty is when brands
create an intimate
emotional connection that
you simply can’t do
without. Ever”.
- Kevin Roberts, Saatchi & Saatchi
THE SCARY REALITY
OUR COMPANIES WON’T SURVIVE
WITHOUT IT.
TODAY LOYALTY MATTERS.
YOU HAD WHAT THEY
NEEDED
YOU HAD A
DIFFERENTIATOR
YOU’VE BUILT LOYALTY
THE EVOLUTION OF A SA
HOW CAN WE INCREASE CUSTOMER
LOYALTY?
CUSTOMER	
  
LOYALTY	
  
Messaging	
  	
  
Rewards	
  
Great	
  User	
  
Experience	
  
BeauDful	
  
Design	
  
Customer	
  
Service	
  
EducaDon	
  
Brand	
  
AuthenDcity	
  
Company	
  
Transparency	
  
Cohort	
  
Tracking	
  
Thank	
  You	
  
Campaigns	
  
Internal	
  
Evangelists	
  
Surveying	
  
(CAB)	
  
Customer	
  
Success	
  
TODAY LETS FOCUS ON CUSTOMERS &
THEIR EXPERIENCE
Rewards	
  
Internal	
  
Evangelists	
  
Brand	
  
AuthenDcity	
  
User	
  	
  
Experience	
  
Customer	
  
Success	
  
Thank	
  You	
  
Campaigns	
  

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HOW TO REDUCE YOUR CHURN RATE & INCREASE CUSTOMER LOYALTY

  • 1. HOW  TO  REDUCE  YOUR  CHURN  RATE  &   INCREASE  CUSTOMER  LOYALTY Joanna Lord CMO @joannalord   Renea Nielsen Customer Success Strategist @renoodles   Susan Emerick Manager of Social Programs @sfemerick   MARKETING  PROFS  B2B  FORUM,  2013    
  • 2. WHAT IS CUSTOMER LOYALTY? “Loyalty is when brands create an intimate emotional connection that you simply can’t do without. Ever”. - Kevin Roberts, Saatchi & Saatchi
  • 3. THE SCARY REALITY OUR COMPANIES WON’T SURVIVE WITHOUT IT.
  • 4. TODAY LOYALTY MATTERS. YOU HAD WHAT THEY NEEDED YOU HAD A DIFFERENTIATOR YOU’VE BUILT LOYALTY THE EVOLUTION OF A SA
  • 5. HOW CAN WE INCREASE CUSTOMER LOYALTY? CUSTOMER   LOYALTY   Messaging     Rewards   Great  User   Experience   BeauDful   Design   Customer   Service   EducaDon   Brand   AuthenDcity   Company   Transparency   Cohort   Tracking   Thank  You   Campaigns   Internal   Evangelists   Surveying   (CAB)   Customer   Success  
  • 6. TODAY LETS FOCUS ON CUSTOMERS & THEIR EXPERIENCE Rewards   Internal   Evangelists   Brand   AuthenDcity   User     Experience   Customer   Success   Thank  You   Campaigns  
  • 7. Customers, customers, customers* *No really, it’s all about the customers.
  • 8. Meeting the Human Needs Renea Nielsen @renoodles  
  • 9. We don’t build loyal fans with the businesses purchasing our products  
  • 10. You build those loyalty with individuals.
  • 11. If building loyalty is about the individuals -- human beings -- your loyalty and retention plans should revolve around meeting human needs.
  • 12. What are the human needs? Sense of Accomplishment Sense of SupportSense of Belonging
  • 14. Encourage them to share their success.
  • 17. Encourage your fans to actively belong.  
  • 18. Let your members know you value dependability. http://status.37signals.com/
  • 19. Celebrate you’re your own wins http://37signals.com/reportcard
  • 20. Use customer data and lifecycle communication to help your members
  • 21. Acknowledge when you’ve disrupted their workflow.  
  • 22. Empower your members to support themselves. Go beyond; educate them.
  • 24. GREAT CUSTOMER EXPERIENCE IS KEY* * And the bar continues to rise.
  • 25. IBM Enterprise Social Strategy Programs & Services
  • 26. © 2012 IBM Corporation Enable the expert in the context of our go-to-market programs to improve the customer experience. 26
  • 27. © 2012 IBM Corporation Our strategy is maturing to improve the customer experience 1) Enable the IBMer 2) Experiments with content on platforms 3) Publish broadcast content 1) Enable the expert in the context of our go-to-market programs 2) Optimize engagement across owned and earned social platforms to create shared belief with IBM experts and strategic constituencies 3) Map social content and interactions optimize progression through the demand cycle
  • 28. © 2012 IBM Corporation IBMSelect An  intenDonal  system  of  enablement   Governance: Policy & Guidelines 28
  • 29. © 2012 IBM Corporation
  • 30. © 2012 IBM Corporation 309/26/14 Internal Use Only www.ibm.com/voices
  • 31. © 2012 IBM Corporation
  • 32. © 2012 IBM Corporation IBM social behavior leads to great results §  Search satisfaction up 50% §  Search productivity saving $4.5M/yr §  $700K travel savings §  Reduced voicemail §  Reduced email server costs §  77% re-use assets §  74% increase their productivity §  87% increase skills §  84% access experts more quickly §  84% share knowledge with others §  64.5% improve personal reputation §  64.5% increased sense of belonging §  59.9% increase sales Source: Luba Cherbakov, IBM Distinguished Engineer (Feb 2010) 42.2%  improve  customer  sat  
  • 33. © 2012 IBM Corporation Connect with me The Most Powerful Brand On Earth: How to Transform Teams, Empower Employees, Integrate Partners, and Mobilize Customers to Beat the Competition in Digital and Social Media Susan Emerick leads enterprise social business programs for IBM. As an author, speaker, and adjunct professor, Susan helps marketers use social and digital media to foster long- term, high-value relationships with clients, prospects, partners, colleagues, and communities. Beginning in 2008, Susan helped establish a social insights practice at IBM, to continually develop social listening insights that drive marketing planning and social engagement strategies. This IBM initiative was awarded the 2010 SAMMY (Social Advertising, Media and Marketing) for Best Socialized Business. susanemerick.com @sfemerick linkedin.com/in/sfemerick/ bit.ly/susan-emerick
  • 34. THANK  YOU  FOR  YOUR  TIME!   QUESTIONS? LET’S HEAR ‘EM! Joanna Lord CMO @joannalord   Renea Nielsen Customer Success Strategist @renoodles   Susan Emerick Manager of Social Programs @sfemerick   MARKETING  PROFS  B2B  FORUM,  2013