High customer loyalty is one of the most important indicators of good performing companies. Since customer satisfaction is directly linked to customer loyalty it is evident`that measuring customer satisfaction without taking customer loyalty into account and vice versa would be misleading.
High customer loyalty is one of the most important indicators of good performing companies. Since customer satisfaction is directly linked to customer loyalty it is evident`that measuring customer satisfaction without taking customer loyalty into account and vice versa would be misleading.
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?
Customer Loyalty Outcomes
Characteristic Features of Behavioral Loyalty, Attitudinal Loyalty and Cognitive Loyalty, Role of Customer
Loyalty outcomes in business decisions, Significance of Customer Loyalty for Marketers, Relationship
Influencers of Customer Loyalty including factors mediating customer loyalty relationship with other relationship influencers, Customer Affinity, Customer Engagement.
CREATING CUSTOMER value, satisfaction and loyaltySajjad Sayed
Presentation, CREATING CUSTOMER value, satisfaction and loyalty, help the students to understand core concepts of how to make customer crazy to your products and offerings.
What Is a Customer Worth? Understanding Customer Lifetime ValueAdam Toporek
On November 29, 2011 we posted a “back of the napkin” guide for calculating the economic value a customer brings over their “lifetime” with a business. We designed Understanding Customer Lifetime Value: A Non-Geek’s Guide as a thorough, yet non-academic, approach to determining the lifetime value of customers
The step-by-step process of determining customer lifetime value seemed like a natural fit for SlideShare, so we decided to re-release the post in a presentation format.
Check out What Is a Customer Worth to learn more about Customer Lifetime Value and to make better decisions about marketing and retention.
Customer Loyal Satisfaction/ How to get to know what is really important for...4Service Group
The research world uses unique index of CLS – Customer Service Satisfaction, which allows to segment customers into groups making it possible to identify customer base stability and divide it into four target categories.
To identify category to refer each of the customers the questions are used measuring satisfaction and company loyalty.
Such clients segmentation allows to get to real pure truth. It also make possible to make more specific what the customer announced as important and what is really important for him/her. For example, the customer thinks no lines is critical for him/her, but in fact his/her NPS was influenced with the fact that cashier did not ask him/her for loyalty card. Such issues are estimated with specific technique. For example in customer experience research company 4Service we separate declared importance from the actual one and identify critical issues to retain customer, key factors influencing his/her attitude towards the company, issues connected with emotional sphere, issues catching him/her.
Such analysis data allows to identify company’s achievement and competitive strength, the issues to be worked on, “must have” in standards. It will be clean toilets for some companies and sales assistant approach speed for another ones. There are certain standards which need to be observed at high level in the company on continuous basis, which can be called “hygiene minimum”. In such a way company’s capacities can be unlocked making it possible to set the goals on stepwise basis.
It’s better to establish goals quarterly, but first and foremost to be done is to realize the importance of service factors for the customer, that is: what customer perceives as company advantages; factors affecting customer’s choice which are not recognized as important by the customer; what customer is expecting on default; factors of less importance for the customer which do not affect his/her choice.
It allows to select tooling and to highlight key points in correct manner.
Outcome(s)
Handtech more than tripled their revenue after implementing all of the ATS
recommendations in less than two years. We conducted focus groups within
Handtech, in different locations around the U.S. As a result, there was a very large
productive team that developed quickly into hundreds of sales people. We took
the processes of the highly productive team and rolled this out to the entire U.S.
The revenue increased with new clients and upselling to existing clients. The new
training modules helped those in the field to connect better with clients. Each
team shared different ideas and promoted revenue generation techniques resulting
in a greater team environment and productive setting. The sales people were
speaking the same language of the Handtech brand messaging.
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?
Customer Loyalty Outcomes
Characteristic Features of Behavioral Loyalty, Attitudinal Loyalty and Cognitive Loyalty, Role of Customer
Loyalty outcomes in business decisions, Significance of Customer Loyalty for Marketers, Relationship
Influencers of Customer Loyalty including factors mediating customer loyalty relationship with other relationship influencers, Customer Affinity, Customer Engagement.
CREATING CUSTOMER value, satisfaction and loyaltySajjad Sayed
Presentation, CREATING CUSTOMER value, satisfaction and loyalty, help the students to understand core concepts of how to make customer crazy to your products and offerings.
What Is a Customer Worth? Understanding Customer Lifetime ValueAdam Toporek
On November 29, 2011 we posted a “back of the napkin” guide for calculating the economic value a customer brings over their “lifetime” with a business. We designed Understanding Customer Lifetime Value: A Non-Geek’s Guide as a thorough, yet non-academic, approach to determining the lifetime value of customers
The step-by-step process of determining customer lifetime value seemed like a natural fit for SlideShare, so we decided to re-release the post in a presentation format.
Check out What Is a Customer Worth to learn more about Customer Lifetime Value and to make better decisions about marketing and retention.
Customer Loyal Satisfaction/ How to get to know what is really important for...4Service Group
The research world uses unique index of CLS – Customer Service Satisfaction, which allows to segment customers into groups making it possible to identify customer base stability and divide it into four target categories.
To identify category to refer each of the customers the questions are used measuring satisfaction and company loyalty.
Such clients segmentation allows to get to real pure truth. It also make possible to make more specific what the customer announced as important and what is really important for him/her. For example, the customer thinks no lines is critical for him/her, but in fact his/her NPS was influenced with the fact that cashier did not ask him/her for loyalty card. Such issues are estimated with specific technique. For example in customer experience research company 4Service we separate declared importance from the actual one and identify critical issues to retain customer, key factors influencing his/her attitude towards the company, issues connected with emotional sphere, issues catching him/her.
Such analysis data allows to identify company’s achievement and competitive strength, the issues to be worked on, “must have” in standards. It will be clean toilets for some companies and sales assistant approach speed for another ones. There are certain standards which need to be observed at high level in the company on continuous basis, which can be called “hygiene minimum”. In such a way company’s capacities can be unlocked making it possible to set the goals on stepwise basis.
It’s better to establish goals quarterly, but first and foremost to be done is to realize the importance of service factors for the customer, that is: what customer perceives as company advantages; factors affecting customer’s choice which are not recognized as important by the customer; what customer is expecting on default; factors of less importance for the customer which do not affect his/her choice.
It allows to select tooling and to highlight key points in correct manner.
Outcome(s)
Handtech more than tripled their revenue after implementing all of the ATS
recommendations in less than two years. We conducted focus groups within
Handtech, in different locations around the U.S. As a result, there was a very large
productive team that developed quickly into hundreds of sales people. We took
the processes of the highly productive team and rolled this out to the entire U.S.
The revenue increased with new clients and upselling to existing clients. The new
training modules helped those in the field to connect better with clients. Each
team shared different ideas and promoted revenue generation techniques resulting
in a greater team environment and productive setting. The sales people were
speaking the same language of the Handtech brand messaging.
Moneda Local Digital = FinTech + Smart Cities + Sharing Economy.
Local Complementary Currency Presentation at the Co-Innovation Week at Citilab.
Digipay4Growth short presentation: Bristol Pound - SARDEX - Santa Coloma de Gramenet
Ubiquat Financials www.ubiquat.com
1 week Quick assessment - CLIPIC
For Local Administrations, Local Commerce Associations, ...
Impact of Service Quality on Customer Loyalty of Domestic Pumpspaperpublications3
Abstract: Service quality deals with the customer expectation and actual treatment. Better the service quality, higher will be the customer satisfaction. This can gain more and more customers and more loyal customers. The major advantage of loyal customers is that these customers will not leave because of any small reason or any minor fluctuations in company’s performance. This study is restricted to a single product domestic pump and will investigate the role of service quality in creating loyal customers.
Keywords: Service quality, Customer loyalty, Domestic pumps.
Title: Impact of Service Quality on Customer Loyalty of Domestic Pumps
Author: FAZEEN RASHEED A K
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
CHAPTER 2: MARKETING PRINCIPLES AND STRATEGIES
Lesson 1: Relationship Marketing
Lesson 2: Customer Value
Lesson 3: Customer Relationship Development Strategies Lesson 4: Customer Service Strategy in the Philippine Business Enterprise.
Resources: Principles of Marketing of Dr. Serrano.
In this slideshow, we explore what loyalty is and how it relates to your relationships with customers.
The mass-marketing approaches of the ’60s and ’70s ignored the role of customer loyalty as an important parameter of marketing activities.
There has long been a shift from this transaction based-approach into a relationship-based strategy. The focus changes from acquisition to retention. The new goal is to enhance customer loyalty by focusing on the lifetime value of existing customers, considered just as important as attracting new customers.
Loyalty is the maintenance of trust in a person, a party, an institution; which fosters strong feelings of support or allegiance. An individual has a sense of belonging to a relationship.
In business, this feeling of loyalty a customer feels with a brand or business yields a deeply held commitment for consistent future consumption.
Customer Service Vs Customer Experience.pptxQuickmetrix
Customer experience (CX) encompasses the overall perception and interaction a customer has with a brand throughout their entire journey. It involves every touchpoint and interaction a customer has with a company, including pre-purchase, purchase, and post-purchase stages. Customer experience focuses on the emotions, feelings, and overall satisfaction of the customer.
Customer Service Vs Customer Experience.pptxQuickmetrix
QuickMetrix tools enable businesses to collect and analyze customer feedback through surveys, reviews, and social media channels. They help businesses understand customer sentiment, identify areas for improvement, and track customer satisfaction.
Dr. Maurice Roussety is an Executive Consultant at DST Advisory and Lecturer in Small Business, Franchising and Entrepreneurship at Griffith University in Queensland, Australia
Leadership effectiveness a multi-factorial model dr. m. roussety mba, m led,...jameskandi
Dr. Maurice Roussety is an Executive Consultant at DST Advisory and Lecturer in Small Business, Franchising and Entrepreneurship at Griffith University in Queensland, Australia. Maurice holds a PhD from the Griffith University in Intellectual Property and Franchise Goodwill Valuation. He also holds a Master’s degree in Leadership and a Master of Business Administration.
Dr. Antoine Maurice Roussety is Executive Consultant at DST Advisory. He lectures in small business and franchising at Griffith University, Queensland, Australia
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
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2. Customer satisfaction is as much an economic as it is a
strategic business imperative that is not always to
measure. It largely depends on how the product1 has
performed relative to the customer’s expectations. It is
particularly relevant in contemporary times as
businesses strive for competitive advantage in an
increasingly global environment where customers have
become all-powerful.
3. The challenge for businesses is not so much to satisfy
the customer at point of purchase or consumption but
to provide an integrated service experience at the pre-
purchase, post-purchase and future-purchase phases of
the customer-relationship continuum.
4. As indicated in the graph below, the life cycle of the
customer can be explained in terms five related but
distinct phases that call upon specific functions of the
organisation. These functions need to be carefully
orchestrated to ensure that the consumer is attracted to
the brand, then convert that consumer into a customer
of a product, which is well supported by service
strategies to retain that customer whilst anticipating
his/her changing needs for future-purchases.
5. During the pre-purchase phase, the marginal cost to the
organisation far outweighs marginal revenues as it
engages heavily in marketing, advertising, promotional,
and sales-training activities. Thereafter revenue
increases as the cost of conversion and retention fall
relative to revenues.
6. These pre-purchase activities are designed to gain the
customer’s confidence in the brand, create expectations in
their minds as to the product’s value with the view of a
purchase. The strategies and tactics employed by the
organisation in converting the ‘consumer’ who scans the
market place for value-for-money products into a “customer
of value” can and does influence customer satisfaction.
Simply put, if the customer feels as if he/she has been
subliminally induced into a purchase decision, it is highly
likely that he/she will experience post-purchase remorse
which in turn may affect a re-purchase decision, due to this
reduced level of satisfaction.
7. As the relationship spans the pre-purchase and into the post-
purchase phase where the organisation now shifts attention
to strategies that will stop defection and cause a re-purchase
of not only the same product but also other products on offer
with an increased frequency. In order to do this the
organisation must know the customer well. It must strive
towards the creation of relationships with its customers
where an emotional attachment is created between the
customer and the brand rather than the mere focus on
discrete economic transactions.
8. This type of relationship driven service/product
differentiation will then place the organisation in a more
conducive space to anticipate the customer’s needs and
expectations. By doing so the customer-satisfaction
challenge during each phase can be consolidated to ensure
that expectations held by the customer pre and post purchase
are aligned with the organisation’s intentions and actions.
9. a) Importance of service quality.
Service quality is increasingly ranked as a high strategic
objective for businesses that are serious about creating and
sustaining a long-term competitive advantage. It is well-
supported by various total-quality-management approaches
that strive to integrate all service-delivery intentions
regarding service integrity, reliability, responsiveness,
assurance and quality, together with the customer
relationships straddling Figure 1 continuum.
10. Service quality is an effective differentiator in any market
especially with regard to the delivery of intangible products.
The following matrix demonstrates the key organisational
outcomes of service quality:
11. Outcomes where service quality is advocated as a strategic
objective
Rationale
1. Enables small firms to compete with larger ones.
Superior quality service costs far less that the differentiation
it creates, thereby allowing smaller less financially resourced
firms to compete well.
2. Encourages repeat purchases of same product, purchases
of new product and overall frequency of purchased.
Superior service quality positively affects the recipient and
creates a “feel-good” factor. It reassures the customer that
the right choice was made in terms of product and provider
which reduces risks that would otherwise exist in future
purchases.
12. 3. Creates new customers.
The “feel-good” factor combined with the low-risk of
dissatisfaction, stimulates positive word-of-mouth that
ultimately attracts new customers, who also perceive a low-
risk encounter.
4. Improves organisational morale.
Superior service quality positively impacts on the way the
organisation and its people are perceived by stakeholders,
customers, community, and competitors. As a consequence
morale is elevated as personnel feel rewarded for a job well
done.
13. 5. Improves brand image and value.
Superior service quality differentiates homogenous service
offerings, and visibly manifests a customer-centric culture.
These are the building blocks of a strong brand image which
ultimately adds value to the organisation as a whole.
6. Supports higher prices therefore higher profits.
Superior service quality leads to greater customer
satisfaction which leads to confidence, loyalty, and
emotional affinity to the brand. Subject to the product’s
cross-elasticity, demand is not affected by higher prices are
and higher profits are generated as price sensitivity lessens.
14. 7. Reduces costs therefore higher profits.
Marketing, selling, and administrative costs are reduced
when service quality is high as customer complaints are low
therefore low recovery costs, low defection rates and
increase word-of-mouth therefore less customer acquisition
costs.
8. Contributes to overall brand equity, in particular brand
preference.
Brand equity comprises strong loyalty to and awareness and
preference for the brand. Service quality is a strong
differentiator and determinant of preference.
15. 9. Reduces delivery gap (difference between what the
service promises and what is actually experienced by the
customer).
Given the inseparability of the customer and provider’s
involvement in the production process, a commitment to
superior service quality must also commit to maximizing the
customer’s satisfaction in the production process. The
greater the satisfaction, the greater the “feel-good,” the more
ownership the customer takes of the process, therefore the
less risk of a substantive delivery gap.
16. Dr. Maurice Roussety is an Executive Consultant at DST
Advisory and Lecturer in Small Business, Franchising and
Entrepreneurship at Griffith University in Queensland,
Australia. Maurice holds a PhD from the Griffith University
in Intellectual Property and Franchise Goodwill Valuation.
He also holds a Master’s degree in Leadership and a Master
of Business Administration.