Customer bonding programs 030714

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Information about Customer bonding programs 030714
Business & Mgmt

Published on March 7, 2014

Author: ctsmithiii



Customer bonding programs are a great way to:
1. ensure you have satisfied customers
2. evolve satisfied customers into raving fans
3. initiate a "customers for life"
4. start a dialog with your customer that will lead to an emotional connection with the brand.

CUSTOMER BONDING PROGRAMS © Tom Smith, Insights From Analytics, 2014. 1

WHAT ARE CUSTOMER BONDING PROGRAMS? • • Customer relationship management Enhance clients’ relationships with prospects or customers © Tom Smith, Insights From Analytics, 2014. 2

PREMISE • Any successful business’ most valuable asset is its current customers © Tom Smith, Insights From Analytics, 2014. 3

OBJECTIVES • • • • • • Move customers up the hierarchy Increase LCV Increase “share of wallet” Go beyond “share-of-mind” to “share-of-life” Reduce churn Engender loyalty © Tom Smith, Insights From Analytics, 2014. 4

CUSTOMER HIERARCHY Advocates or “Raving Fans” Customers Users Prospects © Tom Smith, Insights From Analytics, 2014. 5

STRATEGIES • • • • • Relational database CSMI (customer satisfaction measurement & improvement) Provide value Customers for Life Demonstrate sensitivity © Tom Smith, Insights From Analytics, 2014. 6

TARGET AUDIENCES • Current customers – – • Prospects – – • Retail B2B Retail B2B Sales – – Internal External © Tom Smith, Insights From Analytics, 2014. 7

TACTICS • • • • • Events Cause related marketing Welcome kits Newsletters Customer satisfaction studies © Tom Smith, Insights From Analytics, 2014 . 8

PROTOTYPICAL PROGRAM 1. 2. 3. 4. 5. 6. 7. 8. Welcome kit CSMI Check-in Cross-sell Free gift/trial “Turn in a friend” Contract renewal Anniversary © Tom Smith, Insights From Analytics, 2014 . 9

NEXT STEPS • • How can your clients benefit from a customer bonding program? For whom can you write a recommendation or provide a referral? © Tom Smith, Insights From Analytics, 2014 . 10

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