how can companies attract and retain the right customers and cultivate strong customer relationships
TRANSCRIPT
CULTIVATING CUSTOMER RELATIONSHIPS AND RETAINING AND ATTRACTING CUSTOMERS….
HOW??
a
Customer Relationships
Building strong long term relationships is very important
a
Customer Relationship Management
Focuses on customer’s TOUCH POINTS to maximize loyalty
a
Personalized Marketing
Dominos has introduced a new “build your own pizza” feature on its website that allows customers to watch a simulated photographic
version of their pizza
a
Permission Marketing
Involves gaining permission of consumer for marketing
aONE TO ONE MARKETING
a
Customer Empowerment
The power is with the customer, marketers and retailers are scrambling to keep with it
a
Customer Reviews
Recommendation from customers is an important factor in
establishing customer
relationships and attracting new
customers
a
Companies must retain the customers. Adding customers here is like adding water to a
leaking bucket
a
Marketing Funnel
a
Managing Customer BaseReducing the rate of customer defection
Increasing longevity of customer relationship
Enhancing growth potential of each customer
Treating low profitable customers smartly
Focusing disproportionate effort on high profit customers
a
Building Loyalty
Interacting with custom
ers
Developing
Loyalty Progra
ms
Creating
Institutional Ties
a
Disclaimer
Created by Palak Goyal, IIT Kharagpur during an internship by Prof. Sameer Mathur, IIM Lucknow
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