Published on February 26, 2014
Customer Retention Marketing Director Rodolfo Maldonado
Customer Retention and Customer Loyalty Customer Retention • Customer Retention is the activity that a selling organization undertakes in order to reduce customer defections. Successful customer retention starts with the first contact an organisation has with a customer and continues throughout the entire lifetime of a relationship. • Customer loyalty is when an organization receives the ultimate reward for the way it interacts with its customers. Loyal customers buy more, buy longer and tell more people - that's true customer loyalty.
customer retention and satisfaction • A company with a high turnover rate may not be able to maintain strong personal relationships with its customers. Even if relationships are established, the customer may decide to take its business to a new company when its contact person leaves.
The Truth • If you're a service business, you're losing 15 to 20 percent of your customers 20% New every year. And according to customer a study in Harvard Business s Review, "...customer defections have a surprisingly powerful impact on the bottom line. They can have more to do with a service company's profits than scale, market share, unit costs, and many other factors usually associated 85 % Customer with competitive advantage." Retention customer retention New customers Net Growth 20%- 15% = 5% Net Growth
Everybody likes pie… 20% New customer s customer retention New customer s 95 % Customer Retention 20- 15+ 10 = 15% Growth Net
1 •GROWTH is just one of the benefits that superior customer retention can offer a company. Increased profits are another. The cost of acquiring customers and putting them on the books generally exceeds by several times the annual cost of serving existing customers. So the longer customers are kept, the more years over which the initial cost of acquisition can be spread.
Facebook + Twitter Building customer Loyalty through facebook. Here are some numbers to back up the importance of facebook page: • • • • Facebook Pages Can Increase Customer Loyalty by 36% Made 36 percent more visits to stores each month Spent 45 percent more of their dollars Had 14 percent higher emotional attachment to the brand • Had 41 percent greater psychological loyalty toward brand. • Bottom line... facebook is a way to attract more customers and create loyalty. And it's FREE!
Customer Retention Programs Currently Active • Patient referral
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