BUILDING CUSTOMER

SATISFACTION, VALUE, AND

RETENTION

Grace Abilay

MM 513 – Marketing Management

OBJECTIVES

What are customer value and satisfaction, and

how can companies deliver them?

What makes a high-performance business?

How can companies both attract and retain

customers?

How can companies improve both customer

and company profitability?

COSTUMER VALUE & SATIFACTION

Image by adhunik.com – customer satisfaction

COSTUMER VALUE & SATIFACTION

Image by religence.com – value customer relationship

HOW CAN COMPANIES DELIVER COSTUMER

VALUE AND SATISFACTION?

EXCEED CUSTOMER EXPECTATIONS

KNOW WHAT’S THE CUSTOMER NEEDS

LISTEN, IDENTIFY AND PROVIDE THE BEST THING TO OFFER TO

DELIGHT THE CUSTOMER.

HOW CAN COMPANIES BOTH ATTRACT AND

RETAIN CUSTOMER?

Customer Motivation

Create a need for the product first. Offer a good demonstration

of the product, if needed. Convince the customer that he needs

the product in the first place.

Know the Customer

Match the kind of customer to the product. The product’s

objectives must adhere to the customer’s needs. Without this,

the whole purpose of marketing will be defeated.

Source: E21 Global Entrepreneurs Network

First Impression

While explaining the product, choose your words carefully. Keep

the best words at the surface. The first two minutes of the

product orientation will create an impact on the customer.

Prolonged marketing will not satisfy the customer, for the

customer that is impatient.

Brand Confidence

Brand value assuages for the major part of marketing.

However, a brand value can be created only through effective

marketing. Though you might find this confusing, practical

implementation of this aid will offer better clarity.

HOW CAN COMPANIES BOTH ATTRACT AND

RETAIN CUSTOMER?

Source: E21 Global Entrepreneurs Network

Patience

Never expect instant results from your customers. The brand

needs to get established in a steadfast manner. There is a

gestation period from marketing to customer feedback. Remain

patient and be optimistic until then. Customer relationships will

not spring forth overnight, but will evolve over time.

Feedback Adherence

Customer feedback is the ultimate gospel for building a

concrete tool to retain customers. Know what the customer

wants and reckon the suggestions.

HOW CAN COMPANIES BOTH ATTRACT AND

RETAIN CUSTOMER?

Source: E21 Global Entrepreneurs Network

Elimination of Doubts

When in doubt, leave the detail. Come back to it later, work on

it and proceed accordingly. There should be a hindrance free

interface between you and the customer. This will help in

building a confidence level in the customer.

Quality

Offer quality services to aid the product you market. Remember

that the product alone is stranded without proper packaging.

Brand value and your marketing skills will improve the

intangible packaging of the product quality.

HOW CAN COMPANIES BOTH ATTRACT AND

RETAIN CUSTOMER?

Source: E21 Global Entrepreneurs Network

Credibility

A customer will be attracted to trustworthy marketing. If he is

convinced that the product is as authentic and genuine as you

have portrayed it to be, there is no doubt that you have retained

him successfully.

Innovation

Portals, web, and mobile applications can be developed to

meet specific business needs, personalize services and provide

additional flexibility.

HOW CAN COMPANIES BOTH ATTRACT AND

RETAIN CUSTOMER?

Source: E21 Global Entrepreneurs Network

HOW CAN COMPANIES IMPROVE BOTH

CUSTOMER AND COMPANY PROFITABILITY?

Cut across the entire value chain;

Focus on multiple rather than single transactions of a customer

Focus on multiple products bought by a single customer

Accumulate costs related to a customer rather than to a

specific product or service;

Source: Entrepreneurs .com

THANK YOU…