Whether for-profit or nonprofit, customer retention strategies are the same. Here are seven strategies to retain your customers that you should consider.
The Secrets to Increasing Customer Retention and RenewalsSocious
Learn how to create a sustainable system for boosting customer retention and renewals.
In this presentation, you’ll learn:
- How to leverage higher engagement
- 6 key elements of B2B customer retention
- Actionable strategies to increase customer retention and renewals
Find out if your business has all of the major symptoms of high customer churn.
Watch the video: http://web.socious.com/secrets-to-increasing-customer-retention-renewals
Whether for-profit or nonprofit, customer retention strategies are the same. Here are seven strategies to retain your customers that you should consider.
The Secrets to Increasing Customer Retention and RenewalsSocious
Learn how to create a sustainable system for boosting customer retention and renewals.
In this presentation, you’ll learn:
- How to leverage higher engagement
- 6 key elements of B2B customer retention
- Actionable strategies to increase customer retention and renewals
Find out if your business has all of the major symptoms of high customer churn.
Watch the video: http://web.socious.com/secrets-to-increasing-customer-retention-renewals
For an updated version of this presentation: https://www.slideshare.net/clearaction/customer-retention-strategies-125750732
Is customer retention included in your marketing plans and budgets? Many companies are involving customers in 2-way conversation to build relationship strength. Trust is the #1 way to retain customers ... by preventing hassles in policies and processes ... making your company irresistible, for sustained organic growth.
See https://ClearAction.com
For any business, customer retention is extremely important aspect. No wonder it is said that the customer is king, because he or she can make or break a business. What do you think? And, what are you doing to retain existing customers?
Getting more customers is the first thing that comes to mind when someone says making more money for a business. So, to increase your customer retention rates, I've compiled a list of top 7 efficient techniques for retaining customers.
Sebuah konsep tentang Customer Loyalty Ladder yang membagi tingkatan loyalitas konsumen sehingga pemasar bisa mengalokasikan sumber daya yang ada secara efektif di setiap tingkatan tersebut.
A concept about Customer Loyalty Ladder which divide the consumer's loyalty level so in the end, marketers can allocated their resources effectively for each of that level.
Knowing your customer, Doing a regular follow-up, Interacting with them, Offering them the best most importantly simplifying work to get the best output....
Brand loyalty management is important given the enormous investments and impact on the bottom line taking into account the fact that generating new brand users costs 6-10 more than keeping existing brand users. In contexts where brands need to be supported heavily by employees / people (service, B2B, ...), big negative impact of employee turnover on customer brand loyalty. Short-term oriented vision hampers development of customer brand loyalty (e.g. focus on sales figures of current quarter).
For an updated version of this presentation: https://www.slideshare.net/clearaction/customer-retention-strategies-125750732
Is customer retention included in your marketing plans and budgets? Many companies are involving customers in 2-way conversation to build relationship strength. Trust is the #1 way to retain customers ... by preventing hassles in policies and processes ... making your company irresistible, for sustained organic growth.
See https://ClearAction.com
For any business, customer retention is extremely important aspect. No wonder it is said that the customer is king, because he or she can make or break a business. What do you think? And, what are you doing to retain existing customers?
Getting more customers is the first thing that comes to mind when someone says making more money for a business. So, to increase your customer retention rates, I've compiled a list of top 7 efficient techniques for retaining customers.
Sebuah konsep tentang Customer Loyalty Ladder yang membagi tingkatan loyalitas konsumen sehingga pemasar bisa mengalokasikan sumber daya yang ada secara efektif di setiap tingkatan tersebut.
A concept about Customer Loyalty Ladder which divide the consumer's loyalty level so in the end, marketers can allocated their resources effectively for each of that level.
Knowing your customer, Doing a regular follow-up, Interacting with them, Offering them the best most importantly simplifying work to get the best output....
Brand loyalty management is important given the enormous investments and impact on the bottom line taking into account the fact that generating new brand users costs 6-10 more than keeping existing brand users. In contexts where brands need to be supported heavily by employees / people (service, B2B, ...), big negative impact of employee turnover on customer brand loyalty. Short-term oriented vision hampers development of customer brand loyalty (e.g. focus on sales figures of current quarter).
Delivering on the one-to-one promise is not a one-time exercise. It's an ongoing pursuit that is continuously measured and refined. Learn the ten critical success factors to cultivating profitable customer relationships. We share these with you as key benchmarks to any successful loyalty marketing program.
More CRM and Loyalty Marketing Resources
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Systematic New Loyalty Program Development: http://www.customerinsightgroup.com/systematic-new-loyalty-program
Pinterest: http://pinterest.com/engagekeepgrow/
Who is Customer Insight Group?
Customer Insight Group, Inc. leads the way in the evolution of how companies engage their customers, positively motivate them and earn their long-term loyalty. Our extensive client work is testimony to our depth of knowledge and ability to apply strategic insight and solutions to a wide variety of business objectives. Our team’s client experience includes: NHFA, Thomasville Furniture, The Maxim Group Carpet Franchise, Ashro, A&P, The Bon Ton, Crate & Barrel, Dick’s Sporting Goods, Edwin Watts Golf, GE Consumer Finance, Monroe and Main, Swiss Colony, Midnight Velvet, MySwingle.com, The Great Indoors, G.H. Bass, Golf Galaxy, Helzberg Diamonds, HSBC, Kohl’s, La-z-boy Furniture Franchise, MCI, Payless ShoeSource, Pier 1 Imports, Petco, Proflowers.com, Regis University, Ruby Tuesday, S&K Menswear, Sierra Trading Post, Stein Mart, Tommy Hilfiger, Ulta, as well as various other leading companies.
This presentation covers customer satisfaction with examples taken from famos motor brands i.e. Mercedese & Ford Motor Company. After Reading this, one should be uble to understand and deliver the best knowledge about customer satisfaction.
Brand loyalty is a certain way of feeling about a brand, and the relational commitment those feelings produce. Read this guide to help you understand and increase your brand loyalty.
Ever wondered why you buy what you buy?
This presentation dives deep into the fascinating world of consumer involvement and satisfaction!
Uncover the secrets of how consumers engage with brands and what makes them tick. We'll explore:
The psychology behind involvement: Why do some purchases feel like climbing Everest, while others are a quick grab-and-go? ️
The power of satisfaction: How happy customers become your biggest brand champions.
Actionable strategies: Learn how to tailor your marketing and service to keep customers coming back for more! ✨
Get ready to:
Boost your marketing ROI
Build unshakeable customer loyalty
Unlock the full potential of your brand
This complete deck can be used to present to your team. It has PPT slides on various topics highlighting all the core areas of your business needs. This complete deck focuses on Concept Testing Whitepaper PowerPoint Presentation Slides and has professionally designed templates with suitable visuals and appropriate content. This deck consists of total of twenty nine slides. All the slides are completely customizable for your convenience. You can change the colour, text and font size of these templates. You can add or delete the content if needed. Get access to this professionally designed complete presentation by clicking the download button below. https://bit.ly/3gcSrCr
This presentation outlines the RAPID Loyalty Measurement Approach, a method of assessing the three dimensions of customer loyalty: Retention, Advocacy and Purchasing.
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Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
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Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
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The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
2. 2Customer Loyalty and Retention Strategies 吳明泉博士 2009
OutlineOutline
Definition of Customer LoyaltyDefinition of Customer Loyalty
What Affects Customer LoyaltyWhat Affects Customer Loyalty
Relationship programsRelationship programs
Customer life cycleCustomer life cycle
Reasons for Lost CustomersReasons for Lost Customers
Customer Retention StrategiesCustomer Retention Strategies
Problem Identification and ManagementProblem Identification and Management
Conflicts and customer complaintsConflicts and customer complaints
3. 3Customer Loyalty and Retention Strategies 吳明泉博士 2009
Customer loyaltyCustomer loyalty
Customer’s commitment or attachment to aCustomer’s commitment or attachment to a
brand, store, manufacturer, servicebrand, store, manufacturer, service
provider, or other entity.provider, or other entity.
AA behaviorbehavior toward the producttoward the product
AnAn attitudeattitude to behaveto behave
5. 5Customer Loyalty and Retention Strategies 吳明泉博士 2009
Churn rate or Attrition RateChurn rate or Attrition Rate
The rate at which new customers try aThe rate at which new customers try a
product or service and then stop using it in aproduct or service and then stop using it in a
given period of time.given period of time.
Retention rate = 1 – the attrition rate..Retention rate = 1 – the attrition rate..
6. 6Customer Loyalty and Retention Strategies 吳明泉博士 2009
Problems with behavioral approachProblems with behavioral approach
A customer may be making a repeatA customer may be making a repeat
purchase not because of any true loyalty orpurchase not because of any true loyalty or
commitment,commitment,
But because of convenience, price,But because of convenience, price,
availability, oravailability, or inertiainertia due to habit.due to habit.
Inertia suggests a low sensitivity to theInertia suggests a low sensitivity to the
brand since purchases are made without abrand since purchases are made without a
real motive for the choice.real motive for the choice.
7. 7Customer Loyalty and Retention Strategies 吳明泉博士 2009
Attitudinal brand loyaltyAttitudinal brand loyalty
Include favorable attitude that reflects aInclude favorable attitude that reflects a
preference or commitmentpreference or commitment expressed overexpressed over
time. Emotional attachment, evaluationtime. Emotional attachment, evaluation
No loyaltyNo loyalty
Inertial loyalty or spurious loyaltyInertial loyalty or spurious loyalty
Latent loyaltyLatent loyalty
8. 8Customer Loyalty and Retention Strategies 吳明泉博士 2009
Relationship commitmentRelationship commitment
An enduring desire to maintain a valuedAn enduring desire to maintain a valued
relationshiprelationship
Loyal customers, high in repeat purchaseLoyal customers, high in repeat purchase
behavior and strong in attitudebehavior and strong in attitude
9. 9Customer Loyalty and Retention Strategies 吳明泉博士 2009
Transaction vs. relational continuumTransaction vs. relational continuum
TransactionTransaction RelationalRelational
ObjectiveObjective Make a saleMake a sale Create a customerCreate a customer
CharacteristicCharacteristic AnonymityAnonymity interdependenceinterdependence
Criteria of successCriteria of success Volume price, newVolume price, new
customercustomer
ValueValue
enhancements,enhancements,
repeat exchangerepeat exchange
Interaction toneInteraction tone Sale as aSale as a
conquest, discreteconquest, discrete
eventevent
Sale as anSale as an
agreement,agreement,
continuing processcontinuing process
10. 10Customer Loyalty and Retention Strategies 吳明泉博士 2009
What affects customer loyaltyWhat affects customer loyalty
12. 12Customer Loyalty and Retention Strategies 吳明泉博士 2009
A post-purchase or post-choice evaluationA post-purchase or post-choice evaluation
that results from athat results from a comparison betweencomparison between
those pre-purchase expectation and actualthose pre-purchase expectation and actual
performanceperformance
Satisfied customers may not be loyalSatisfied customers may not be loyal
customers.customers.
Xerox’s finding: satisfaction rating 4 is sixXerox’s finding: satisfaction rating 4 is six
times more likely to switch to others thantimes more likely to switch to others than
rating 5.rating 5.
Customer satisfactionCustomer satisfaction
13. 13Customer Loyalty and Retention Strategies 吳明泉博士 2009
Emotional BondingEmotional Bonding
Brand affect, brand equityBrand affect, brand equity
Company attachmentCompany attachment
Establish feelings of closeness, affection,Establish feelings of closeness, affection,
trust, and respect.trust, and respect.
IT may limit emotional bonds. PersonalIT may limit emotional bonds. Personal
contacts, non-verbal signals, friendships,contacts, non-verbal signals, friendships,
and personal interactions are criticaland personal interactions are critical
elements.elements.
14. 14Customer Loyalty and Retention Strategies 吳明泉博士 2009
TrustTrust
Willingness of customer to rely on theWillingness of customer to rely on the
organization.organization.
Reduces uncertainty/riskReduces uncertainty/risk
Honest, fair, and responsibleHonest, fair, and responsible
15. 15Customer Loyalty and Retention Strategies 吳明泉博士 2009
Choice reduction and habitChoice reduction and habit
People have tendency to reduce choice.People have tendency to reduce choice.
There can be a switch cost associated withThere can be a switch cost associated with
change to the unfamiliar, untried, or thechange to the unfamiliar, untried, or the
new. There may be cost in time, money,new. There may be cost in time, money,
and riskand risk
16. 16Customer Loyalty and Retention Strategies 吳明泉博士 2009
History with the companyHistory with the company
Corporate ImageCorporate Image
Contacts and purchase historyContacts and purchase history
Service experienceService experience
Intergeneration influenceIntergeneration influence
17. 17Customer Loyalty and Retention Strategies 吳明泉博士 2009
Multi-faced loyaltyMulti-faced loyalty
Customer loyalty to:Customer loyalty to:
Brand: promotionBrand: promotion
Product: productionProduct: production
Company: public relationsCompany: public relations
Customers: meeting, chats, reunionCustomers: meeting, chats, reunion
Price: discounts, couponsPrice: discounts, coupons
Places: sounds, excitementPlaces: sounds, excitement
Variety: new options, variations,Variety: new options, variations,
18. 18Customer Loyalty and Retention Strategies 吳明泉博士 2009
Guidelines for enhancing loyaltyGuidelines for enhancing loyalty
20. 20Customer Loyalty and Retention Strategies 吳明泉博士 2009
Financial IncentivesFinancial Incentives
Increased customer loyalty to price,Increased customer loyalty to price,
incentivesincentives
– Frequent flyer/reader/buyer/visitors… Rewards.Frequent flyer/reader/buyer/visitors… Rewards.
– Discounts, product upgrades, awards, prizesDiscounts, product upgrades, awards, prizes
– Related products or providers expand the netRelated products or providers expand the net
Relationships concentrate exclusive onRelationships concentrate exclusive on
incentives tend to be weak. Averageincentives tend to be weak. Average
American Consumer: 3.5 programsAmerican Consumer: 3.5 programs
21. 21Customer Loyalty and Retention Strategies 吳明泉博士 2009
Social BondingSocial Bonding
Refers to a friendly companionship, trust,Refers to a friendly companionship, trust,
and ties. Increased customer loyalty to theand ties. Increased customer loyalty to the
organizationorganization
– ConnectionsConnections
– Personal insight, recognition, mutual affectionPersonal insight, recognition, mutual affection
– Interpersonal interactions expand the linkInterpersonal interactions expand the link
22. 22Customer Loyalty and Retention Strategies 吳明泉博士 2009
Structural-interactionStructural-interaction
Use system design to solve problems,Use system design to solve problems,
reinforce purchases, and recognize thereinforce purchases, and recognize the
importance of each customer.importance of each customer.
– Systemic mass personalization….Systemic mass personalization….
– ManagementManagement
– Cultivation, simulationCultivation, simulation
– Artificial intelligence continues the connectionsArtificial intelligence continues the connections
Increased customer loyalty to theIncreased customer loyalty to the
experience.experience.
23. 23Customer Loyalty and Retention Strategies 吳明泉博士 2009
Customer life cycleCustomer life cycle
24. 24Customer Loyalty and Retention Strategies 吳明泉博士 2009
Reasons for Lost CustomersReasons for Lost Customers
DissatisfactionDissatisfaction
Relative AdvantageRelative Advantage
ConflictConflict
Loss of TrustLoss of Trust
Cease to needCease to need
Novelty SeekingNovelty Seeking
26. 26Customer Loyalty and Retention Strategies 吳明泉博士 2009
A welcome strategyA welcome strategy
The organization’s appreciation for theThe organization’s appreciation for the
initiation of a relationship.initiation of a relationship.
• Creating a delightful surprise, making a goodCreating a delightful surprise, making a good
first impressionfirst impression
• First touch: additional customer informationFirst touch: additional customer information
• Reassure the buyers that they have made theReassure the buyers that they have made the
correct choices.correct choices.
• Treat like a first date. Don’t overdo it!Treat like a first date. Don’t overdo it!
27. 27Customer Loyalty and Retention Strategies 吳明泉博士 2009
ReliabilityReliability
The organization can repeat the exchangeThe organization can repeat the exchange
time and time again with the same satisfyingtime and time again with the same satisfying
results.results.
– Keep promiseKeep promise
– Ensure consistent qualityEnsure consistent quality
– Continuous promotion is still the key.Continuous promotion is still the key.
28. 28Customer Loyalty and Retention Strategies 吳明泉博士 2009
ResponsivenessResponsiveness
The organization shows customers it reallyThe organization shows customers it really
cares about their needs and feelings.cares about their needs and feelings.
Loyal employees create loyal customers.Loyal employees create loyal customers.
Internal marketing.Internal marketing.
Customer-contacted employees shouldCustomer-contacted employees should
have the authority as well as thehave the authority as well as the
responsibility for date to date operationalresponsibility for date to date operational
activities and CRM decision.activities and CRM decision.
29. 29Customer Loyalty and Retention Strategies 吳明泉博士 2009
RecognitionRecognition
Special attention or appreciation thatSpecial attention or appreciation that
identifies someone as having been knownidentifies someone as having been known
before.before.
People respond to recognition.People respond to recognition.
Recognition and appreciation helpRecognition and appreciation help
maintain and reinforce relationships.maintain and reinforce relationships.
30. 30Customer Loyalty and Retention Strategies 吳明泉博士 2009
PersonalizationPersonalization
Use CRM system to tailor promotions andUse CRM system to tailor promotions and
products to the specific customers.products to the specific customers.
Offer engine: take customer data after it isOffer engine: take customer data after it is
analyzed and applies it to create the offeranalyzed and applies it to create the offer
or message that is appropriate to theor message that is appropriate to the
individual customer. Ex., My site, Clickindividual customer. Ex., My site, Click
stream analysis, free ride, etc.stream analysis, free ride, etc.
31. 31Customer Loyalty and Retention Strategies 吳明泉博士 2009
Access strategyAccess strategy
Identify how customers will be able toIdentify how customers will be able to
interact with the organization.interact with the organization.
General contact, product return, technicalGeneral contact, product return, technical
report, service representative, change areport, service representative, change a
mailing addressmailing address
Is the access quick and easy?Is the access quick and easy?
32. 32Customer Loyalty and Retention Strategies 吳明泉博士 2009
A Communication processA Communication process
33. 33Customer Loyalty and Retention Strategies 吳明泉博士 2009
Organization vs. customer initiatedOrganization vs. customer initiated
communicationcommunication
InIn organization-initiated communicationorganization-initiated communication,,
organizations must consider the intendedorganizations must consider the intended
message, channel (medium), and receivermessage, channel (medium), and receiver
characteristics.characteristics.
InIn customer-initiated communicationcustomer-initiated communication,,
consider the establishment of toll free calls,consider the establishment of toll free calls,
web sites, priority access for providingweb sites, priority access for providing
services and collecting customer data.services and collecting customer data.
34. 34Customer Loyalty and Retention Strategies 吳明泉博士 2009
Customer-initiated communicationCustomer-initiated communication
35. 35Customer Loyalty and Retention Strategies 吳明泉博士 2009
Reward strategiesReward strategies
Frequent, best customersFrequent, best customers
Partnership Management ProgramPartnership Management Program
Switching costs: financial penalty, time loss,Switching costs: financial penalty, time loss,
psychological barrierpsychological barrier
Termination PenaltyTermination Penalty
36. 36Customer Loyalty and Retention Strategies 吳明泉博士 2009
Problem Identification and ManagementProblem Identification and Management
Rather tell the company than switch to aRather tell the company than switch to a
competitor or tell someone else. Actingcompetitor or tell someone else. Acting
rather than reacting.rather than reacting.
Build numerous mechanism for identifyingBuild numerous mechanism for identifying
customer problems.customer problems.
– Customer satisfaction surveyCustomer satisfaction survey
– Mysterious shoppersMysterious shoppers
– Websites, other contacts pointsWebsites, other contacts points
37. 37Customer Loyalty and Retention Strategies 吳明泉博士 2009
Conflicts and Customer ComplaintsConflicts and Customer Complaints
Level of dissatisfactionLevel of dissatisfaction
Attrition of blameAttrition of blame
Cost/benefits of actionsCost/benefits of actions
Personal characteristics:Personal characteristics:
– highly educated,highly educated,
– self-confident,self-confident,
– aggressive,aggressive,
– Older women.Older women.
38. 38Customer Loyalty and Retention Strategies 吳明泉博士 2009
Dealing with complaintsDealing with complaints
Having the skill to interact with different types ofHaving the skill to interact with different types of
people. Trained in methods of interaction and inpeople. Trained in methods of interaction and in
different style of communication.different style of communication.
Be customer-centric. Let the customers know thatBe customer-centric. Let the customers know that
they have been understood.they have been understood.
Express regretExpress regret
Resolve conflictResolve conflict
– Accommodation, Compromise, TerminationAccommodation, Compromise, Termination
Follow-up and prevent recurrenceFollow-up and prevent recurrence
Keep in touch and listen to customerKeep in touch and listen to customer
39. 39Customer Loyalty and Retention Strategies 吳明泉博士 2009
Resolve conflictResolve conflict
A disagreement in which the views of theA disagreement in which the views of the
customer and the organization appear tocustomer and the organization appear to
be incompatible.be incompatible.
Accommodation: a settlement thatAccommodation: a settlement that
emphasizes cooperative behavior.emphasizes cooperative behavior.
Compromise: mutually acceptable middleCompromise: mutually acceptable middle
ground that is somewhat satisfactory toground that is somewhat satisfactory to
both parties.both parties.
TerminationTermination