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Articles

Pros and Cons of Rewards Programs

Nearly everyone has or wants to have a customer loyalty rewards program. Rewards programs operated by large businesses are fairly successful. But, this does not apply to majority of small and medium businesses. I believe that every positive aspect of a rewards program almost always has a negative side. Here are the major pros and cons of rewards programs. […]

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customer acquisitions

Six key questions to audit a loyalty program

Personally, I feel there is a significant difference between making more customers satisfied and making customers more satisfied. The best way of increase profits is in making several customer segments much more than just satisfied. A customer satisfaction rating alone is not the right measure for pointing out customer loyalty towards your business. […]

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Articles

9 Cs of Client Retention

Proper devotion to the 8 Cs of Customer Retention will go a long way toward preventing the dreaded ninth C – Cancellation. It has been said time and time again that it costs more to find new customers than to retain existing ones. And even though this maxim has become somewhat cliché, the fact behind the statement holds true – quality customer service leads to retention, and customer retention is the key to establishing any healthy business. […]

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customer retention

Keeping the pace with customer expectation

The significance of data is that you can see behaviour change daily. If a trend emerges from analysis of your data, it is appropriate to review marketing strategy and assess the success or relevance of the plan under way. The data and the insight they provide become an extremely precious indicator of customer satisfaction. Data linked to loyalty programs becomes a rich source of market research. It is not what people say they do but what they actually do. […]

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Articles

15 Marketing Tips for Finding New Customers

These fifteen tips are really quite simple yet are so often missed. Pass the tips on. Better yet, put them in practice and be ready to handle the endless stream of new customers. All companies fear instability and the possibility of a severe market downturn. However it is during these periods when the best companies show something better than simple survival skills. Downturn separates out the bad and mediocre, as a result leaving fewer companies standing in good stead to carve up the market when things get good again. So let’s talk about a new and different way to seek new and different customers.

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Articles

Customer retention is not easy but it is rewarding

Customer retention programmes have historically had insufficient priority in most sectors, but then the forces affecting customer churn, and therefore the need for retention focus, have never been so great. The idea is not new. What is new is the approach. What is now being witnessed is a market increasingly commoditised and far more susceptible to competition – from other players and from new media. Customer knowledge and confidence have had a significant impact: it has become so much easier to compare and to swap products. Changing sales structures and wearing away of face-to-face interaction have helped to dilute or eradicate conventional ‘loyalty’. […]

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Articles

Six steps to improve customer retention

To succeed, customer retention must be a top-down, company-wide initiative. Truly committing to customer retention is hard work, because it affects virtually every aspect of your organization. But the ultimate payback in sustainable growth and profitability makes the effort worthwhile. The path to customer retention involves six key steps. […]