Posts Tagged ‘customer retention’

Everyone knows about the proliferation of the latest “deal” emails and offers (a.k.a. Groupon, Living Social, Google Offers, and the like). However, marketing is more than just offering a discount. Marketing that relies only on price cuts becomes a battle over the lowest price but that doesn’t help company grow or build long-term customer relationships. (There will always be a competitor with a lower price

Creating customer loyalty isn’t always as easy as riding a bike. Just ask Chris Zane, owner of Zane’s Cycles, and author of a new book, “Reinventing the Wheel: The Science of Creating Lifetime Customers.” You don’t need to own a bicycle to enjoy Zane’s account

I received a surprise in the mail today – a women’s magazine I don’t subscribe to. But, according to the address label, I’m going to be getting the magazine for a full year. Three words come to mind: Gift. Horse. Mouth. Has this ever happened to you? I called the magazine to see if

Take a look at these interesting survey results about the connection between customer feedback/dialogue and how it powers better decision making. (The study was conducted by from Aberdeen Group and Empathica Partners.) As a reader of this blog, you know I’m an advocate of a two-way dialogue between a business and their customers, and how that dialogue and responsiveness can grow retention. I appreciated how

Perhaps have seen the latest Starbucks offer (it prints out on your receipt if you visit Starbucks in the morning). If you buy something before 2pm in-store, you can return after 2pm to buy any type of medium iced drink for $2. This can be a fairly compelling offer, so I stopped to think about what they are getting from this deal and how customers benefit.

Listen to a podcast interview - of me! - and learn more about customer retention strategies. On this podcast you can find out: - how fast you should respond to customer emails - if should you offer a phone number on your website - how to calculate your customer acquisition costs - the connection between employee retention and customer retention - how to lower customer service costs - how to gain

It’s a principal of customer retention and satisfaction to clearly communicate the substance and value of a product or service. Customers are more satisfied if they know what they will get. The issues to consider here are: - How clearly do you communicate what you sell? Is it supremely clear on your website and in all marketing materials? Is it clearly communicated via sales and customer service?

I came across this statistic about purchasing behavior today: According to a 2008 Harris Interactive report, 87% of consumers have stopped dealing with an organization because of a negative experience. And 58% would pay more for a better experience even in a down economy!! This tells me that rather than maintain a sole focus on cost cutting, smart companies are

This past weekend I was reading my favorite customer strategy magazine, 1 to 1 Magazine (published by the Peppers and Rogers Group) and I came across this startling fact: "In mature telecom markets, on average, it takes three years to pay back the cost of replacing each lost customer with a new one." What a wake up call that is on customer churn costs. The

I’m sure you’ve heard me mention you should make things easier for your customers. Today’s highly competitive market place, with great product and service parity, means the customer experience is the critical element for customer engagement and retention. Have you been thinking about how to make your customer’s lives easier? Yes. Great. No? Okay, I’ll let you off the hook this one time. :) Here