customer retention - dimensions - howard marketing · key messages customer values are changing...
TRANSCRIPT
![Page 1: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/1.jpg)
Customer Retention:Customer Retention:The Art of Keeping Good CustomersThe Art of Keeping Good Customers
![Page 2: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/2.jpg)
85%
75%
50%45% 45%
40%35%
30%25%
REDUCE ATTRITION TO INCREASE PROFITSREDUCING THE ATTRITION RATE FROM 10% TO 5%CAN INCREASE PROFITS FROM 25% TO 85%
Calculated by Comparing the Net Present Valuesof the Profit Streams for the Average Customer Life at Current Attrition Rates, With the Net Present Values of the Profit Streams for the Average Customer Life at 5% Lower Attrition Rates.
Branch Deposits
ChargeCard
InsuranceBrokerage
IndustrialDistributionIndustrialLaundry
Office Bldg.Management
Software
Auto SvcChain
CreditInsurance
![Page 3: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/3.jpg)
Key MessagesKey Messages
Customer Values Are ChangingCustomer Values Are Changing
Customer Focus is a DisciplineCustomer Focus is a Discipline
Customer Retention is an Art Customer Retention is an Art ––The Art of Keeping Good CustomersThe Art of Keeping Good Customers
![Page 4: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/4.jpg)
If it touches the customer, If it touches the customer, it’s a marketing issueit’s a marketing issue™™
![Page 5: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/5.jpg)
Changing Customer ValuesChanging Customer Values
1.1. Relevant features and Relevant features and functions, with the ability to functions, with the ability to customisecustomise
2.2. Choices and FlexibilityChoices and Flexibility3.3. Relationships based on trust Relationships based on trust
and rewarded with loyaltyand rewarded with loyalty
![Page 6: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/6.jpg)
Changing Customer ValuesChanging Customer Values
4.4. Sufficient knowledge and Sufficient knowledge and informationinformation
5.5. Complete and Complete and fullfullsatisfactionsatisfaction
6.6. Speed and ConvenienceSpeed and Convenience
![Page 7: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/7.jpg)
Changing Customer ValuesChanging Customer Values
7.7. Environmental ImpactEnvironmental Impact
![Page 8: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/8.jpg)
Importance of Customer Importance of Customer RetentionRetention
“If we don’t take care “If we don’t take care of our customers,of our customers,
someone else will.”someone else will.”
Nick UttonNick UttonChief Marketing OfficerChief Marketing Officer
MasterCard InternationalMasterCard International
![Page 9: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/9.jpg)
Customer FocusCustomer FocusIs A DisciplineIs A Discipline
![Page 10: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/10.jpg)
Customer Focus Is A Discipline Customer Focus Is A Discipline
“Create customer intensity “Create customer intensity everywhere.”everywhere.”
Lew PlattLew PlattCEOCEO
HewlettHewlett--PackardPackard
![Page 11: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/11.jpg)
Focussing on Customer Focussing on Customer NeedsNeeds
![Page 12: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/12.jpg)
The Importance of TLCThe Importance of TLC
TTLLCC
![Page 13: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/13.jpg)
TLCTLC
ThinkThinkLikeLike
CustomersCustomers
![Page 14: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/14.jpg)
Think Like Customers Think Like Customers
![Page 15: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/15.jpg)
Customer ExpectationsCustomer Expectations
AddedValue
(Likes)
Negotiable
(Desires)
Non-Negotiable
(Wants)
Core
(Needs)
![Page 16: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/16.jpg)
Customer Evaluations Customer Evaluations –– 4 PE’s4 PE’s
Promise + Performance ExperiencesPromise + Performance Experiences
People ExperiencesPeople Experiences
Process ExperiencesProcess Experiences
Personal ExperiencesPersonal Experiences
![Page 17: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/17.jpg)
Customer Experience MatrixCustomer Experience Matrix
PersonalPersonal
ProcessesProcesses
PeoplePeople
Promise Promise PerformPerform
Added Added ValueValueNegotiableNegotiable
NonNon--NegotiableNegotiableCoreCore
![Page 18: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/18.jpg)
Customer Experience Customer Experience ScoreboardScoreboard
1010101010101010PersonalPersonal
55555555ProcessesProcesses
55555555PeoplePeople
55555555Promise Promise PerformPerform
Added Added ValueValueNegotiableNegotiable
NonNon--NegotiableNegotiableCoreCore
![Page 19: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/19.jpg)
Heighten Customer ExperiencesHeighten Customer Experiences
Flexible policiesFlexible policiesEmpowered customer contact Empowered customer contact staffstaffTLCTLCConsistent quality and service Consistent quality and service deliverydelivery
![Page 20: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/20.jpg)
Customer RetentionCustomer RetentionIs An ArtIs An Art
![Page 21: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/21.jpg)
Defining CustomersDefining Customers
What is a Customer?What is a Customer?When does someone become When does someone become your Customer?your Customer?
![Page 22: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/22.jpg)
Relationship MarketingRelationship Marketing
NOT Customer Relationship NOT Customer Relationship Management!Management!Forget CRM as you know it.Forget CRM as you know it.Think:Think:
Customer Retention Marketing!Customer Retention Marketing!
![Page 23: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/23.jpg)
Perceptions vs. RealityPerceptions vs. Reality
What is the difference between What is the difference between perception and reality?perception and reality?
![Page 24: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/24.jpg)
Perceptions vs. RealityPerceptions vs. RealityWhat is the difference between perception What is the difference between perception and reality?and reality?
Perceptions are Perceptions are BELIEVEDBELIEVEDby the beholder!by the beholder!
![Page 25: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/25.jpg)
PerceptionsPerceptions
Perceptions are REAL.Perceptions are REAL.
Actually…..perceptions are Actually…..perceptions are more more importantimportant than reality.than reality.
Why?Why?
![Page 26: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/26.jpg)
Perception PointsPerception PointsThe crucial moment when customers The crucial moment when customers and prospects:and prospects:
seeseehearhearsmell smell feelfeel
touchtouchtastetaste
experienceexperience
![Page 27: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/27.jpg)
Perception PointsPerception Points
Key point:Key point:
Each and every point of customer Each and every point of customer contact contact –– before, during, and after before, during, and after a sale a sale –– will affect what people say will affect what people say and believe about you.and believe about you.
![Page 28: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/28.jpg)
Points of InteractionPoints of Interaction
Perception Points = Contact PointsPerception Points = Contact Points
Contact Points = Points of InteractionContact Points = Points of Interaction
Perceptions are formed by customers Perceptions are formed by customers through interactions.through interactions.
![Page 29: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/29.jpg)
7 Cs of Customer Retention7 Cs of Customer Retention
Caring AttitudeCaring AttitudeCustomised PracticesCustomised Practices
Competent CCPsCompetent CCPsCall/Visit OnceCall/Visit Once
Convenient AccessConvenient AccessCompressed Cycle TimesCompressed Cycle Times
Committed Follow ThroughCommitted Follow Through
![Page 30: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/30.jpg)
Customer LoyaltyCustomer Loyalty
Customer Satisfaction is an Customer Satisfaction is an attitude.attitude.Customer Loyalty is a Customer Loyalty is a behaviourbehaviour..
![Page 31: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/31.jpg)
Customer RetentionCustomer RetentionIs An ArtIs An Art
![Page 32: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/32.jpg)
SummarySummary
The great businesses of tomorrow The great businesses of tomorrow will grow exactly the way great will grow exactly the way great businesses have always been businesses have always been
built:built:
by doing marvelous things that by doing marvelous things that meet the needs, wants, and meet the needs, wants, and
desires of customers.desires of customers.
![Page 33: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/33.jpg)
CommitmentCommitment
Don’t have a commitment to Don’t have a commitment to customer service……customer service……
have a commitment to customers.have a commitment to customers.
![Page 34: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/34.jpg)
Howard Marketing ServicesHoward Marketing ServicesAdded ValueAdded Value
Monday Morning Marketing MemoMonday Morning Marketing Memoee--mail newslettermail newsletterArticles, references, links to Articles, references, links to marketing and sales sitesmarketing and sales sites
www.howardwww.howard--marketing.commarketing.comsteven@[email protected]
![Page 35: Customer Retention - DIMENSIONS - Howard Marketing · Key Messages Customer Values Are Changing Customer Focus is a Discipline Customer Retention is an Art – The Art of Keeping](https://reader033.vdocument.in/reader033/viewer/2022051917/60090c6a3b45cb2ce11eabef/html5/thumbnails/35.jpg)
Thank YouThank You