Winning and Retaining Customers: Childhood to Adulthood Marketing Report

Winning and Retaining Customers: Childhood to Adulthood Marketing Report

Articles
Research and Markets has announced the addition of the "Winning and Retaining Customers: Childhood to Adulthood " report to their offering. Customer loyalty is important to mobile operators, since high rates of churn can prove very costly. As the age at which people get their first phone gets ever younger, with some now as young as three, so it is in MNOs' interests to establish loyalty from an ever younger age. Marketing of products and services designed for use by children brings additional complexities. MNOs have to communicate with two parties, the parent and the child, and meet their different needs. At the same time, they must ensure that they are observing both legal requirements and moral obligations for safety and protection of children. Operators also need to manage the…
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Retailers should think beyond loyalty marketing

Retailers should think beyond loyalty marketing

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Australia’s retailers should rethink the role of loyalty management in order to keep pace and improve relevance with their customer base, finds KPMG research conducted for the Coca-Cola Retailing Research Council of Asia (CCRCA). The research report Making the Connection: Rethinking the role of loyalty management was based on in-depth interviews with over 50 executives and senior managers from 27 retailers across 13 countries in the Asia Pacific region. It revealed that retailers were slow to react to react to challenges brought on by increased competition and innovation in technology in a shrinking market. Strategies that worked for the past decade are no longer delivering the same returns. “The challenge that most retailers are currently facing is one of the evolving consumer. We are seeing an unprecedented rate of change…
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Six ways to lose your best customer

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Guest Post by Kathy Cady It is certainly normal for customers to patronize the products or services of a company which they believe in. These customers would even become loyal patronizers if they know that they are being valued by the company. However, if something goes wrong with the way they are being treated, customers would never hesitate to turn their heads to other companies who offer the same product or service.  If you are an entrepreneur or a businessman, check out the following ways to lose your best customer and avoid doing any of these: Lack of appreciation One of the most common reasons that customers turn the other way is because they do not feel that they are being appreciated.  Even a simple “thank you” expressed with the sincerest smile is already enough to make your…
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How an EPoS system can help you to set-up and manage engaging Loyalty Schemes

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Retaining customers should be at the forefront of any business owners’ mind. Your customers can be your biggest ambassadors so long as you give something good to shout about. Running a loyalty scheme is a great way to encourage existing customers to return and also give an incentive to new customer to visit for the first times. Many shops, cafes and restaurants simply offer a paper card and stamp scheme but using your EPoS system, there is an even better way to implement your loyalty scheme. Using the paper and stamp approach, the only thing you gain from the scheme is that customers return to get their free coffee, meal or product. However, using retail or hospitality technology systems such as EPoS, you gain better control over your promotions, and…
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15 Smart ways to retain your customers

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Whether you are a start-up or an established business, you certainly have customers who pay you. However, how to retain customers is a worry for everyone. Competition is huge and if you are unable to retain customers, your bottom line will be affected. Customer retention should be an enduring practice and mostly this becomes the key to long-term success of your business. Believe me, you are not the only one offering whatever you have to offer to your customers. For this reason I have outlined 15 ways that might help you retain your customers. Hope you find them useful. (more…)
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Top 10 tips to empower your sales force for greater customer retention that drives loyalty

Articles
To remain competitive in a dynamic and increasingly multifaceted global setting, you need to create an environment in which your customers are at the center of every decision. The idea of having a customer-centric approach is the essential element for generating customer loyalty and retention. It is known fact that a 5% increase in customer retention has been shown to increase profitability from 25% to 85%. Hence, here are the top 10 tips to empower your sales force for greater customer retention that drives loyalty: (more…)
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Tailored Strategies for Customer Churn Management

Articles, customer retention, loyalty, marketing, strategy
Customer churn in the services industry is still a growing issue, primarily because many consumers have little or no allegiance to a particular service provider. So, how do we solve this? The answer is knowledge: know your customers and know your prospects. As retailers are the customer-facing end of the sales cycle, much of the responsibility for producing customer loyalty has to lie with them. I know many companies who collect vast amounts of data for ensuring risk management procedures. However, this information can be converted into a powerful tool to reduce churn by helping to answer three basic questions: How do I sign up profitable customers? How can I enhance loyalty with my most profitable customers? How do I handle my existing customer base? (more…)
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Six key questions to audit a loyalty program

customer acquisitions, customer retention, loyalty, marketing, word of mouth
These are the six key questions which you would use in an audit of a company's customer loyalty program: What virtues of your business have the largest impact on your customers' satisfaction? How do you divide and define your customer segments? Whose responsibility is customer service? What is your retention rate and what is the trend? What is the lifetime value of a typical customer? What percentage of new customers comes from recommendations and how has this changed over time? (more…)
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9 Cs of Client Retention

Articles, customer retention, strategy
The fastest way to grow your business is to reduce the number of clients who leave you. Thus, looking after existing clients should become your top priority. You would have to do more than just service your clients if you want to retain them for a long period of time – for which you would have to transform the business into a client driven organisation. There is a big difference between focusing on service and being client driven. Follow these 8 Cs for Client Retention to avoid the 9 C – Cancellation: (more…)
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