Customer Retention: Love them or Lose Them

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Jeri Meola shares "Make or Break" strategy for customer retention on SMEI Webinar.

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Customer Retention: Love them or Lose Them

  1. 1. Why Spend Time Acquiring New Customers to Lose Them? March 6th, 2014 Presented by Jeri Meola, President SMS
  2. 2. What music do sales and marketing team members love? 2
  3. 3. Happy Days Are Here Again 3
  4. 4. 4
  5. 5. Technology Had Leveled Our Playing Field 5
  6. 6. So What Is The Solution? 6
  7. 7. 90% - 9 7
  8. 8. ^ 90% of dissatisfied customers won’t come back or buy again ^ Unhappy customers tell their story to at least others 9 8
  9. 9. 9
  10. 10. Who in Your Organization is Responsible For The Customer? If you don’t take care of your customers… someone else will. 10
  11. 11. 11
  12. 12. Successful Customer-Focused Companies Have a vision Data-driven Ongoing innovation Customer vision is driven by your “Make or Break.” 12
  13. 13. “Make or Break” The one thing that has to be done EXTRAORDINARILY well to keep your customer. 13
  14. 14. “Make or Break” Example • When Shopping For Fish, What Do You Prefer? 14
  15. 15. “Make or Breaks?” 15
  16. 16. “Make or Breaks?” Little Things. 16
  17. 17. Disciplined Execution 17
  18. 18. 18
  19. 19. How do I create a “Make or Break” customer experience? 19
  20. 20. “Make Or Break” Questions When purchasing our __________, what could make us different? How do we provide value? What frustrates you? What aren’t you getting? How are we most likely to lose your business? What ONE thing must we excel at? Focus on behaviors and attitudes. 20
  21. 21. VOC Listen and Learn Sessions Qualitative understanding to hear and understand needs, expectations and requirements. 21
  22. 22. Customer Segmentation Which customers are most important? 22
  23. 23. Brand Experience Contracts Show commitment. 23
  24. 24. Customer Advocacy Panel 24
  25. 25. No Excuse Culture 25
  26. 26. Reward staff for taking care of your customer. 26
  27. 27. Customer Experience Assessments Know your risk. “If you’re not keeping score, you’re only practicing.” Vince Lombardi 27
  28. 28. Customer Effort Score Most customers don't want to be dazzled; they want an effortless experience. 28
  29. 29. Sense of Urgency It’s about retention of your base. 29
  30. 30. 30
  31. 31. THE END THE END 31
  32. 32. SMS Relationship Contact ^ ^ ^ Voice of the Customer (VOC) Coach Avid golfer Community Advocate:  Performance Excellence Network (formerly Minnesota Council For Quality)  WomenVenture  United Way Women’s Leadership Council  Executive Women’s Golf Association  Sales and Marketing Executive International  American Heart Association Go For Red Executive Council  Performance Development Management Association (PDMA)  Women’s Presidents Organization ^ Recent Awards:  2011 Women in Finance and Commerce Top Women In Finance  2010 Red Cross Humanitarian  2009 National Association of Women Business Owner Lifetime Achievement 952.939.4310 (Direct) 612.840.0766 (Mobile) jmeola@smsresearch.com LinkedIn: www.linkedin.com/pub/jeri-meola Facebook: profile.to/jeri meola/ 32

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