Improving customer retention is the fastest way to more sales and profits. In addition to having a higher lifetime value, loyal customers advocate for your brand. I used to wonder why customer retention wasn’t the top priority for every company. A few years ago, a marketing VP gave me an excellent explanation when asked why [...]
Loyalty Programs
The actions your company takes to resolve issues are much more important than the words you say. Ideally, solving a customer’s problem is a three-step activity. First, you tell them what you’re going to do. Second, you do it. Third, you follow up to ensure they are satisfied. It’s really that simple if processes and [...]
Retailers have two objectives this holiday season – getting sales and improving relationships. The objectives haven’t changed from past years but the environment is very different. Governmental issues and calendar conflicts are creating new challenges. The 2013 shutdown and possible default are carrying over into the New Year. Implementation of mandatory healthcare has been a [...]
There is a fatal flaw in how we measure the success of marketing campaigns. We celebrate the acquisition of new customers, cheer incremental increases in average orders and response rates, and pass around high fives when website traffic hits a new high. But, what happens when an established customer places another order? Nothing. When customers [...]
“Marketing is an investment. Service is an expense.” While those words may never be spoken aloud in corporate board rooms, it is a common misconception reinforced by resource allocation. All of the talk about the importance of customer service fades into the background when budgets are created. Shortfalls in revenue trigger reductions in service. The [...]
