This document discusses various aspects of customer relationship management (CRM) strategies including customer loyalty, satisfaction, and retention. It covers topics such as the different types of customer loyalty; factors that influence satisfaction and loyalty; developing loyalty profiles; and strategies for acquisition, retention, and winback. Some key points include: there are behavioral and attitudinal aspects of loyalty; satisfaction alone does not ensure loyalty; preferential treatment, rewards, and personalization are examples of retention strategies; and winback strategies aim to regain customers who have defected.
Objectives:
1- introduction
2- Evolution of Marketing
3- CX Definition
4- Why is CX important for your business
5- The benefits of delivering a great CX
6- What is a good CX
7- The difference between CX & CS
8- The CX Cycle
9- Ways to Communicate your Customer
10- Measuring CX
11- Analyzing CX
Loyalty is more than just a program it is becoming a vehicle for brand philosophy. The new breed of successful loyalty programs go beyond perks to build impactful emotional connections with customers. Unparalleled customer loyalty begins and ends with the quality of your relationships with customers.
Objectives:
1- introduction
2- Evolution of Marketing
3- CX Definition
4- Why is CX important for your business
5- The benefits of delivering a great CX
6- What is a good CX
7- The difference between CX & CS
8- The CX Cycle
9- Ways to Communicate your Customer
10- Measuring CX
11- Analyzing CX
Loyalty is more than just a program it is becoming a vehicle for brand philosophy. The new breed of successful loyalty programs go beyond perks to build impactful emotional connections with customers. Unparalleled customer loyalty begins and ends with the quality of your relationships with customers.
There is a territory that exists in the borderlines between you and your customers. It’s a place where opportunity lives, if only you know where to look….
Customer loyalty is a customer's willingness to buy from or work with a brand again and again, and it's the result of a positive customer experience, customer satisfaction, and the value of the products or services the customer gets from the transaction.
Existing customers spend 67% more than new customers. In short, customer loyalty really pays off -- and customer loyalty programs end up paying for themselves.
Brands want to provide great customer service so customers will continue subscribing or purchasing. But customer loyalty is paramount to brands' success -- because loyal customers can grow business faster than sales and marketing.
How to Improve Your Loyalty Program
Refresh yourself on new trends and why loyalty programs are important. Whether you’re just starting out with a customer loyalty initiative or you recognize that the one you already have needs reworked, this presentation will provide valuable insight into where your next steps should be.
Who is Customer Insight Group, Inc.?
Customer Insight Group is a leader in building brand loyalty for the world’s most influential and valuable brands. We help companies engage, keep and grow more profitable customer relationships. We leverage customer insight to deliver the right message to the right customer via the right channel at the right time. The bottom line is we focus your marketing dollars to get the biggest bang for your buck. The result? Long-term customer relationships and maximized margins.
More Resources:
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
Loyalty eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Loyalty Program Audit: http://www.customerinsightgroup.com/don%E2%80%99t-enter-battle-customer-loyalty-unarmed-audit-your-loyalty-marketing-strategies
Implementing Customer Loyalty Program PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Implementing Customer Loyalty Program Powerpoint Presentation Slides. Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of twenty four slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed Implementing Customer Loyalty Program Powerpoint Presentation Slides complete deck.
There is a territory that exists in the borderlines between you and your customers. It’s a place where opportunity lives, if only you know where to look….
Customer loyalty is a customer's willingness to buy from or work with a brand again and again, and it's the result of a positive customer experience, customer satisfaction, and the value of the products or services the customer gets from the transaction.
Existing customers spend 67% more than new customers. In short, customer loyalty really pays off -- and customer loyalty programs end up paying for themselves.
Brands want to provide great customer service so customers will continue subscribing or purchasing. But customer loyalty is paramount to brands' success -- because loyal customers can grow business faster than sales and marketing.
How to Improve Your Loyalty Program
Refresh yourself on new trends and why loyalty programs are important. Whether you’re just starting out with a customer loyalty initiative or you recognize that the one you already have needs reworked, this presentation will provide valuable insight into where your next steps should be.
Who is Customer Insight Group, Inc.?
Customer Insight Group is a leader in building brand loyalty for the world’s most influential and valuable brands. We help companies engage, keep and grow more profitable customer relationships. We leverage customer insight to deliver the right message to the right customer via the right channel at the right time. The bottom line is we focus your marketing dollars to get the biggest bang for your buck. The result? Long-term customer relationships and maximized margins.
More Resources:
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
Loyalty eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Loyalty Program Audit: http://www.customerinsightgroup.com/don%E2%80%99t-enter-battle-customer-loyalty-unarmed-audit-your-loyalty-marketing-strategies
Implementing Customer Loyalty Program PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Implementing Customer Loyalty Program Powerpoint Presentation Slides. Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of twenty four slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed Implementing Customer Loyalty Program Powerpoint Presentation Slides complete deck.
Customer Relationship Management [CRM] is a business strategic tool which helps in developing great relations with your customer. The prime factor here is customer satisfaction. CRM is a process where a company with the aid of technology, sales team, marketing and various other methods interact with their customer. This interaction is vital to have feedbacks, to earn leads and to develop that relationship which can be nurtured over several years, also to have strong product base.
Foreign Direct Investment
http://www.profitableinvestingtips.com/investing-tips/foreign-direct-investment
Follow the money is age old advice for knowing why something is happening. In this case we would like to follow the money that goes into foreign direct investment. Foreign direct investment is done by folks with lots of money and the intention to stay a course and make a profit. If you are looking for offshore investment ideas, take a look at where foreign direct investment goes year after year after year. There have been changes afoot regarding where foreign direct investment is going. A very useful reference in this regard is the just published United Nations study, World Investment Report 2013. We have used 2007 and 2012 as bookend comparison years as 2007 was just before the onset of the worst recession in three quarters of a century and 2012 is the most recent year reported. Of note is that direct foreign investment has fallen in the large majority of nations but there are exceptions that should help guide investors with their fundamental analysis of where to put their money in the years ahead. First take a look at the data and then read about foreign direct investment.
Foreign Direct Investment Comparison of 2007 and 2012
In Billions of USD
Taken from the United Nations World Investment Report 2013
European Union 859 323
UK 200 71
France 96 37
Germany 80 67
Canada 117 54
USA 216 329
Mexico 31 26
Japan 23 123
China 84 84
China, Hong Kong 62 83
South Korea 9 33
India 25 9
South Africa 6 4
Russian Federation 57 51
Brazil 35 -3
The largest gain in foreign direct investment on our chart is in the USA followed closely by Japan (113 billion to 100 billion. As a percentage increase Japan out performs everyone with an increase of more than 400%. Other significant performers are South Korea with a more than 200% increase in foreign direct investment and Hong Kong with a twenty-five percent increase. It is significant that the BRICS nations which were thought to be ready to move up economically lost as a group. China stayed put at $84 Billion. Russia fell from $57 Billion to $52 Billion and South Africa fell from $6 Billion to $4 Billion. Brazil fell off the charts going from $35 Billion in direct foreign investment to a negative $3 Billion because investors are taking money out of the country!
Direct Foreign Investment: What Is It and Why Do It?
In general, foreign direct investment includes mergers and acquisitions, the building of new facilities, reinvestment of profits earned overseas and cross border loans within offshore operations. Basically companies invest offshore because they expect to make a profit over the long term. Because of the long timeline needed to research new projects and develop them, this sort of investment is typically well thought out. Reasons to invest offshore aside from expected profits
We will first look at the world trading system as it has evolved under the General Agreement on Tariffs and Trade (GATT) and the establishment ot a permanent international institution known as the World Trade Organization (WTO).
A CRM strategy must look holistically at all the business processes and systems that deal with customers, including marketing, sales, ordering, customer care, technical support, customer analytics, and so on. And when implemented, it should span all interaction channels, including call centers, retail, web, mobile, etc. It should be optimized so that it’s integrated into all of these consumer touch points.
As in any initial strategy, it’s critical you do the research to make sure you are very clear about what your key objects are going to be, both short and long term. Once you have your strategy set, then you can start to think about what software would be necessary, and from there planning and implementation.
Above all, remember that the customer should be at the heart of your strategy, not your product or service. This can mean a complete change in thinking some cases, but it’s an important shift that your entire team can get behind from the start.
- See more at: http://nicholascifuentes.com/how-to-build-a-crm-strategy-in-2014#sthash.9pUXZlVg.dpuf
Customer Loyalty Comprehension
Meaning and definition of customer loyalty, Significance of Customer Loyalty, Customer Loyalty Ladder,
Loyalty Principles, Benefits of Customer Loyalty, Customer Loyalty and its relationship with customer
satisfaction, Customer retention and Brand Loyalty, Factors affecting customer loyalty formation, Rai-Srivastava model of customer loyalty formation, Drivers of Customer Loyalty.
In this stiff and fast passed daily life and following business environment every minute counts and it’s not always easy to visit the bank office every time you need assistance from the banks side. owing to this fact customers demand for financial and service advice including questions regarding account opening, loan, repayment and many more to get supports by using digital remote advisory methods is growing quickly.
The modern business environment now includes remote guidance as a crucial element. Businesses of all sizes can benefit from the power of efficient virtual communication thanks to the emergence of advanced technologies and digital tools. To achieve this, advanced technologies and solutions are needed to enable communication between remote customers and the bank in efficient, convenient, and easy way.
Customers' attitudes and demands change as a result of the rapidly advancing technological evolution and fast passed changing way of life. Customers request access to services and products without visiting the bank office by utilizing available digital technology within various platforms, which may result in simplifying the lives of customers and increasing the overall productivity of the country due to the ease of access of the banks services while the customers are working their own job or from their comfort zone.
Promoting remote advisory to customers isn’t a sales drive, it's an opportunity to support your existing and potential customers with improved remote servicing, availability and assistance. And it may enhance satisfaction of the customers by providing solutions to the problems raised in using services and products of.
Remote assistance during needy time is a crucial factor for the service delivery organ to get more intimacy with its customers for present and the future in this stiffer and competitive business environment. The human brain is wired to remember events more vividly and for longer periods of time when under stress. Your company's ability to provide valuable assistance, empathy, and digital support in times of need will have a long-lasting effect on your relationships with customers.
Prospect customers of MSL (micro saving and loan) will make requests for the newly opening loan accounts, as well as information about current loans, repayment amounts, and other contracts. There is a genuine sense of urgency surrounding this because clients need assistance to manage their financial and usage hardship. Also, since clients cannot or do not want to visit a branch, the service must be digital. For many banks that will necessitate considerably scaling up their digital servicing and remote administration channels to support customers.
Financial institutions are looking for new ways to reach out to customers and sell their products. Simultaneously, customers’ expectations are rapidly changing, with a preference for a personalized, streamlined, engaging, and digital experience. Remote advice is one emerging model to address
Presenting this set of slides with name - Customer Loyalty PowerPoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of twenty five slides. Our tailor made Employee Engagement Activities For Corporates Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Employee Engagement Activities For Corporates Powerpoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field.
Chapter 4 Creating Customer Value, Satisfaction, and LoyaltyNishant Agrawal
Creating Customer Value, Satisfaction, and Loyalty
Organizational Charts
What is Customer Perceived Value?
Determinants of Customer Perceived Value
Steps in a Customer Value Analysis
Measuring Satisfaction
What is Quality?
How can companies attract and retain the right customers and cultivate strong...Sameer Mathur
Based on the chapters from A South Asian Perspective by Philip Kotler
Learn how companies attract and retain their customers. Learn how companies personalize the market, how they empower the customer and how the customer reviews affect the companies growth, how companies reduce defection rates, the retention dynamics
This presentation gives detailed overview about relationship marketing. Various topics like Customer Lifetime Value, Customer Lifecycle etc. are discussed in detail.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
3. Marketing Strategy & CRM
• Understanding relationship between
relationship, loyalty & profitability
• Satisfaction can be broadly characterized as
a post-purchase evaluation of product
quality given pre-purchase expectations
• Satisfaction is the consumer’s response to
and evaluation of the perceived discrepancy
between prior expectations and the actual
performance of the product as perceived
after its consumption.
4. Four Types of Loyalty
Strong
Weak
Repeat Purchase
Strong
Strength Of Affect
Weak
True
Spurious
Latent
None
5. Marketing Strategy & CRM
Three entirely different definitions of loyalty
1.Behavioral
2.Affect loyalty
3.Situation specific loyalty
6. Brands Have Four Levels of Meaning
1. Benefits
– Functional
– Emotional
– Internal
1. Brand personality
2. Brand attributes
3. Brand conveying values
7. What we Know about Customer
Satisfaction
• Satisfied customers may not remain loyal
• Dissatisfied customers tell more people than
satisfied customers
• Only a small percent of customers ever
complain
• Relationships based on satisfaction are, in
fact, weak
9. There are three Types of Relationships
Companies Have with Customers
• Acquaintance: Based on satisfaction
• Friendly: Based on trust
• Partner: Based on commitment
10. Factors Intervening between
Satisfaction and Loyalty
• Shear number of competitors’
offerings
• Novelty seeking
• Lack of personal attachment with
brand
• Lack of consistency in performance
• New competitors offering better
value or a greater variety of ancillary
services
• Customer expectation of future use
• Customers may not want a
relationship with your firm
11. Developing a Loyalty Profile
of Your Customers
• Customer loyalty is based on favorable
attitudes and behavioral responses such as
repeat purchase. It is both
– Behavioral
– Attitudinal
• Customers may be emotive
loyalists or deliberative loyalists.
12. Are Loyal Customers Always More
Profitable?
• Five reasons many say yes:
1. Increased number of purchases
2. Tendency to “Trade-Up”
3. Tendency to become less price sensitive because of focus
on convenience and purchase efficiencies
4. Word-of-mouth referrals
5. Lower cost of servicing them
13. New Findings Regarding Customer
Retention and Profitability
• In terms of profitability per month, short
lifetime but high revenue customers were
most attractive.
• Profits for long-life customers
did not increase over time.
• Short-life customers paid higher
prices than long-life customers.
• Some long-life customers may cost the firm
more in the long run due expenses.
14. Loyalty, Rewards, and Frequency
Programs
• More than half the United States
participates in at least one
• Flying United vs. Singapore Airlines
• Loyalty programs are primarily
defensive
• Are CRM only if data is used to
establish dialogue
• Are useful for bringing friends and
family into the program
• Are useful in creating databases
16. Questions To Ask Regarding CRM’s
Usefulness To Any Organization
• Do we have a steep or shallow skew?
• Do we have a multichannel or single-channel value
proposition?
• Is our market characterized by “always a share” or
“lost for good” relationships?
18. Acquisition Strategies
• Necessary to fill the pipeline since companies lose
2-40 percent of their customers every year.
• Mass media advertising still useful here.
• Capture potential user IDs and gain permission to
begin dialogue.
• Begin with defining your target and goals for the
acquisition campaign.
19. How To Develop Effective
Acquisition Strategies
• Qualitative and quantitative marketing
research
• Eliminate switching cost
• Present your offer at the appropriate times
• Encourage word-of-mouth referrals
20. Retention Strategies
• Can be based on:
– Rewarding
– Bonding
– Service structure strategy
• With two types of bonds
– Programmatic
– Humanistic
22. Preferential Treatment
…Is the customer’s perception of how much
better they are treated than the company’s
other customers. (Like a King!)
– Marshal Field and company’s Glamorama
– VIP rooms
– “Comps”
23. Rewarding
• Offering tangible benefits such as pricing or gift
incentives to its regular customers in return for
their loyalty.
– Frequent flyer programs
– Customer point programs
– Free gifts
– Used as much in B2B as in B2C
24. Employ the Idiosyncratic-Fit Heuristic in
Creating Loyalty Programs
• This is the tendency for customers to be enticed
by offers for which they enjoy a relative
advantage.
• Increasing program requirements can enhance a
customer’s likelihood of joining IF they feel they
have an advantage over others.
• Make them feel that they, but few others,
qualify.
25. Personalization
• Consumer’s perception about how warmly
they are treated.
• Web related: a company-controlled web site
that a customer can modify to suit their own
purposes.
• Example: the personalized independently
owned women’s fashion business offered by
women selling out of their own homes.
26. Customization
“It’s one thing to train a sales staff to be warm and
attentive. It’s quite another to identify, track and
interact with an individual customer and then
reconfigure your product or service to meet that
customer’s needs.”
Peppers, Rogers, and Dorf
27. Customization
• Over the Web, customization refers to company-
controlled web site modifications.
• Wisconsin Tourist Bureau can customize users’ web
pages by emphasizing their interests through usage:
fishing, hunting, boating, antiquing, hiking, biking,
birding, skiing, etc.
• Companies can also develop new ideas, customize
product functions and features, and collect customer
info through continuous contact through many touch
points.
28. Cross-Selling and Up-Selling
• Brooks Brothers, NRS, and Amazon
• Items to include are determined by customer habits
and clever “bundling”
• Of all the CRM strategies, up-selling is the most
conversation oriented – wait for the relationship to
progress through acquaintanceship and trust stages
and enter the commitment stage
29. Reducing and Reversing Downward
Migration
• McKinsey says reducing downward migration can
provide 2-4 times more profit than reducing
attrition.
• “Migration is the change in customer value over
time.
• Measuring downward
migration is
key, for it may be a
precursor to defection.
30. Conversion
• Some long-time customers may be barnacles and
not treasures.
– If loyalty is overrated, then try to convert your short-
term, transaction-oriented customers to a more
attractive segment.
• Rewards based on purchase
frequency, dollar value, or profit may elevate
these customers to more profitable ones.
31. Brand Building through CRM
Can Help Companies:
– Acquire more customers
– Increase customer share
– Lower rate of brand defection
– Express your brand through CC personnel
– Enable advertising and SP to be more targeted
– Collect better metrics for management (CLV)
– Get more direct and frequent customer inputs
– Provide new types of marketing research data
– Provide new segmentation data by mining
– Provide more customer need data
– Provide more multichannel usage data
32. What Brands Do
• SYMBOLIZE
–Attributes, benefits, producer’s values, culture,
brand
–Personality, and users’ personalities
• EVOKE
–Relationships, experiences, emotions, and life
• CREATE
–Personal meaning, loyalty, friendship, and romance
33. Providing and Attaining Intimacy
• Customers do not want deep relationships with
every company, it’s untenable
– …but customers do want relationships with companies
providing them with products and services with which
they are highly involved
• Lesson: companies should not try to establish
bonds with every customer, just those for whom
the products are important
34. Online Customer Management
and Data Mining
• OCM consists of
– Understanding customers RSFM
– Conduct customer web log analysis
– Site improvement
35. Winback Strategies
• Sometimes referred to as “Regain
Management” or “Comeback Strategies”
– The process of winning back customers who either
give notice to terminate or have already ended the
relationship
– Winback is the process of firms’ revitalizing
relationships with customers who have defected
36. The Importance of Winback…
• Research has shown that a firm has a
– 60- 70 percent chance of successfully repeat-selling
to an active customer
– 20-40 percent chance of successfully repeat-selling
to a lost customer
– 15-20 percent chance of successfully closing the
sale on a brand new customer