how can companies attract or retain the right customers and cultivate strong customer relationships?

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The document discusses strategies for companies to cultivate strong customer relationships and retain customers. It outlines several approaches such as understanding customer retention, managing the existing customer base to build loyalty, creating institutional ties, implementing win-back programs, using customer relationship management focusing on touchpoints to increase loyalty, and empowering customers through personalized marketing, permission marketing, reviews, and recommendations. The document was created by Yash Akshay Reddy during an internship under Professor Sameer Mathur of IIM Lucknow.

Education

Cultivating strong
customer
relation-
ships

How can companies
attract or retain the right
customers??

Focuses on customer ‘touc
points’ to increase loyalty

Created by Yash Akshay Reddy, SVC
during an internship
By Prof. Sameer Mathur, IIM Luckno
www.IIMInternship.com

There are three key areas that need to be fortified to accelerate your CL strategy: Competitive advantage, branding, and customer experience. In this four-part series, I will deliver a step-by-step guide to retaining B2B customers and ensuring your business reaps the revenue and benefits of customer loyalty. I will also give you things to start doing today to start gaining CL, beginning with the most critical of all of your assets — your competitive advantage.

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