Referral marketing is all about getting leads through existing relationships. People like to share good finds and good experiences so developing a referral marketing effort should be an essential part of a nearly every marketing plan. Your plan should focus on the customer and their experience and aim for customer-centric leadership in the channel. Let’s… Continue reading Referral Marketing: Letting Customers Lead the Way
Category: Retention
Moving Beyond Loyalty to Customer Advocacy
The average U.S. household participates in nearly 22 loyalty programs every year. However, that does not mean that householders are, in fact, loyal to these brands. Repeat purchases rather than just loyalty program sign-ups ought to be the core metric for loyalty. How many widgets a person buys determines how loyal they are to the widget maker. … Continue reading Moving Beyond Loyalty to Customer Advocacy
Improve Retention Rate through Better Service
Renewals, repurchases or reorders–whatever you call them in your business–are a key component of growth. And, every single customer touch point can affect your retention rate. Recently I flew across country on a no-frills airline. In the online sales process, if you want a carry-on, you pay a fee. If you want to check a bag,… Continue reading Improve Retention Rate through Better Service
The Cost of Losing an Loyal Customer
Updated July 22, 2020 Recently, I broke up with my cable company. It was actually a very painful thing for me to do. You see, I do not like change; I am a loyal customer. I have thought about this breakup for years. I moved into my current home seven years ago and I have… Continue reading The Cost of Losing an Loyal Customer
JCPenney Needs a New Loyalty Program
JCPenney hired an Apple store executive as CEO with hopes of reviving the brand. The new CEO has a vision for JCPenney but not a good enough view of the company’s customer base. The company now needs a loyalty program to keep its current customers from deflecting. Sales were in decline before Mr. Johnson’s arrival… Continue reading JCPenney Needs a New Loyalty Program