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Started by : Sheetal Jadhav, Sales/BD Manager, Future Group   05 25 2010 08:26:33 +0000
Industry : All IndustriesFunctional Area : Retention Of Employees(Others)
Activity:  174 views;  last activity : 09 18 2010 12:44:57 +0000

Do you even have a specific plan for building customer loyalty?

I bet you haven't given it as much thought as you should- because to tell the truth I need to give it more effort also. If you currently retain 70 percent of your customers and you start a program to improve that to 80 percent, you'll add an additional 10 percent to your growth rate.

Particularly because of the high cost of landing new customers versus the high profitability of a loyal customer base, you might want to reflect upon your current business strategy.

So, what attracts & sustains attention??

 
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1 2 3 4 5
1 Personal Connection
2 COMMUNICATE WITH A PERSONAL TOUCH !
3 Provide full value of money to the cusotmer.
4 A good loyalty program
5 Visual & Emotional Appeal
6 INTERESTING CONTENT
7 personal connection
8 Competitive Pricing
9 THE KNOWLEGEABLE ATTENTION AND SOFT SPOKEN ALSO SHOULD ADD IN THIS CONTENT
10 Intent to add value & communicating it simple
11 Reason Varies For Drawing Attention
12 customer required satisfactory return
13 A Thing of Beauty is Joy Forever!

Personal Connection

idea posted by Sheetal Jadhav Sales/BD Manager, Future Group

Companies should realize that they will be able to retain more customers if they are able to build a personal connection or bonding b/w the two. Customers usually like those products or services where they are able to link themselves with the product.

Thus companies need to work on this.....

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Thanks for the referral Ms.Sheetal. You are absolutely correct. This is my personal experience too. 

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The market seems watching,not much amused, the jostling among the product for getting a space. However tiny it may be. Amidst thses teeming products it is not easy to draw the attention and perhaps much more tough to sustain it.
It won't be  amiss to say that there is no universal rule which needs to be followed to draw the attention. Rather I should say it varies from product to product and consumer segment.
Some products draw their attention due to their price structure. Say for example "Nano." I am sure those who are ardent lovers of luxury cars not get attracted by this car. But now the question is  whether NANO could sustain the attention-I am quite sceptical . Since it failed to live up to expectation in terms of supply and quality maintenance.
Some changes always attract, according to consumer segment , and we should know - The Changes Are only Constant.

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by Rajesh Talreja, Retail Store Manager, THE IT STORE  | 05 30 2010 12:53:40 +0000

Hi Sheetal,

Many Thanx for Inviting me,

I agree with your statement as personal attention or connection is an human emotion which customer feel's to get at such a place where it is least expected.  To communicate with a personal touch, providing full value of the money spent or expertise of content information provided by an executive is something what every customer get's everywhere but, which matter's a lot is a personal touch which attracts & sustains customer to buy from a particular place bcoz of getting a valuable personal & sincere attention of those on whom he can believe to get a deal which is concerned & connected with his emotions.

 

Add your argument:

COMMUNICATE WITH A PERSONAL TOUCH !

idea posted by Naushad H.L. Creative Director, MAD COMMUNICATION

Its all about making them FEEL SPECIAL... Ur Customers are like GOD, so Treat them like GODS. Make them Feel Good, make your COMMUNICATION PERSONAL... Attend to their Problems ASAP... Give them the VIP Status.

RECOGNISE THEM ( or at least Try To )... Its Human to crave or recognition. A customer frequents a Place of Purchase because He/ She feels better there, people know them, they are helpful & make them feel special.

COMMUNICATE... Through E-mails, through SMS, through In-Store Messages... there are many ways to retain them, Happily.

Final & Most Important... GIVE THEM OFFERS, WHICH ARE MORE SPECIAL THAN NEW CUSTOMERS.

Happy Debating Friends ! 

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by Ravi Sheth, business associates, LKP Securities Ltd  | 05 25 2010 10:40:49 +0000

i do agree.customer should be treated like god. he should your RAVING FAN

 

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by Krunal Kothari, BDO, GLOBAL EXIM  | 05 25 2010 10:18:32 +0000

Very Right..

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Provide full value of money to the cusotmer.

idea posted by Anand Hisaria Branch Manager/Regional Manager, Ceasefire Industries Limited

Every aurgument here is necessary for attracting and sustaining customers. But in long run, customers can only be sustained if they are getting the full value of money from your product or store. Outstanding quality at lowest possible price is the key to success as far as Indian Markets are concerned.

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we can see some companies who sell their product in market but have never come across in any adds. this is because of goodwill like semi table fans, rajdoot, fiat premier car and a lot more who never pmomote their product through adds. only thing is that as long as they exist should give full value of money. 

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Exactly ... so. Swwet words,personal touch/ connection etc all may go in vain if we can not give the 'money back' worth of their expenses/ investments with us.

After all, we are to "reach the goods in their hands" ... ! If fail, we may be called "cheater service-provider'.

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A good loyalty program

idea posted by Jaygopal Raghavan Marketing Manager, Landmark Group

A good loyalty program that communicates frequently and rewards the customer for their loyalty is the need of the hour. Very often customers find loyalty programs boring because either the communication to them is sparse and once in a while or the company doesnt bother much after signing up the customer for the program.

Though i shouldnt broach this on such a platform but i myself am a perfect example of the above. I was signed up for two of your loyalty cards at pantaloons but am yet to get either of them after a good three years. Though i keep getting the email shots announcing new offers and advance discount purchase for a promotion, i am yet to get my loyalty card inspite of reminding your sales staff at more than one outlet.

In a large organisation like yours, a loyalty program is designed and run with little supervision or systems in place. Floor staff are given sales targets but not loyalty program targets. Very often it is quantitative over qualitative. all and sundry are signed up for the program just because one would have punched a minimum invoice of Rs. 200.

There should be a separate customer service desk to whom all loyalty program should be diverted. In some cases even a driver may end up punching for Rs, 500 and above on momentous occasions like his wedding etc. and the sales staff will promptly enroll him into the program. But is that going to get you results, will the driver be serious about the whole thing. I bet not. Hence it is the duty of those running the privilege program to educate and train the sales staff on a loyalty program and drill the fact into them that repeat purchases from a loyal customer will go a long way in enhancing the sales of that shop.

And even if you are doing all of the above, a good loyalty program should have a newsletter through which frequent communication can be done and also give him / her a lot of cross promotional deals which would keep his interest alive in the program. Where i work we have gone into a lot of cross promotional deals wherein we offer other brands of similar stature an ad space in our loyalty magazine in return for a discount offer for our loyalty customers. The results only convince us of this further because one such deal wherein any of our loyalty customers on producing their loyalty card ended up getting a 12% discount on a gluco meter. And the company selling the same have just reverted saying they have sold around 300 units only to our loyalty customers and how happy they are to associate with us.

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Quality product, affordable price and customers relationship management can attracts and sustains the attention of the customers.

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Visual & Emotional Appeal

idea posted by Makrand Bhave Marketing & MICE, WIZCRAFT International

Any vision that has the colours has the capacity to attract. So visual appeal is extremely important in getting someones' attention. Good quality photographs ad interesting visual concepts would go a long way to get attention too.

Emotional connect with the content will sustain the interests of the vewee!!

there has to be an appeal that will get the person emotionally hooked. the communication has to evolve and revolve around the fantasies of the viewee and have to be identifiedwith emotions, anything that makes people happy or sad or angry is always connectd to emotons. That will sutain your viewees attention!!

1
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INTERESTING CONTENT

idea posted by RAMESH KANDADAI Principal Consultant, ARM Consultants

Relevant content conveyed in an interesting and engaging manner retains attention.

0
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personal connection

idea posted by KAMAL TANDON Sales Head, KEE PHARMA LIMITED
the concept of CRM i.e. customer relationship management is the best way to attract a new customer and retain a loyal one.the indian tradition of ATITHI DEVO BHAYA works wonders for our customers too by developing a personal equation with the customer.todays scenario calls for a customer based marketing approach rather than product based marketing.CRM helps in building the bridge of trust and long association between a organisation and customer, for a win win situation for both.
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Competitive Pricing

idea posted by Shaji Khan Managing Director, Eskay Consultants

I would definitely agree with the idea of forming a personal connection with the customers so that they are loyal to the business, but more importantly I would think that if we provide them with the right pricing/ best pricing in the market, they would definitely stick with the business rather than thinking to opt for a competitor.

 

So competitive pricing with personal touch would do wonders of attracting and retaining a loyal customer base.

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THE KNOWLEGEABLE ATTENTION AND SOFT SPOKEN ALSO SHOULD ADD IN THIS CONTENT

idea posted by ARJUN SINGH NAMDHARI Sales Executive, PepsiCo

SHORT- TAKE AN EXAMPLE OF THE RETAIL OUTLET LIKE REEBOK....

THE SALES MAN SHOULD KNW THE FULL KNOWLEGDE AND U CAN SAY TECHNOLOGY OF THE SHOES OR APPAREL THEY SELLING....SO THAT THE CUSTOMER SHOULD KNWS THAT WHAT HE/SHE GOING TO PURCHASE....

THE COMPANIES SPENDING MILLIONS OF RUPEES ON TECHNOLOGIES ON SHOES AND IF THE SALES MAN{ WHO ULTIMATELY GOING TO SELL THAT SHOES FROM HIS HANDS} NOT KNW....HOW THEY COMMUNICATE TO THE CUSTOMERS PROPERLY....

AND SECOND PART THAT SALES MAN SHOULD BE SOFT SPOKEN...WHICH THEY GOING TO GREED CUSTOMERS EVRY SECONG....SHOLD BE CALM,,,COOL,,,PATIENT AND SHOILD ALWAYS HAVE A SMILE ON HIS FACE.....SO THAT THE CUSTOMER CAN FEEL THAT THE CHERIEST OR FEEL LIKE A KING IN THE OULTLET...SO THAT HE WOULD CUM AGAIN AGAIN  N AGAIN...THAT IS TO SUSTAIN AND RETAIN PROCESS

THANKING YOU

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Intent to add value & communicating it simple

idea posted by Caleb David Freelancer, Advertising/PR/MR/Events

Any offer or service that ADDS VALUE to the existing customer or a prospective customer communicated in the most simplest form alone can attract and sustain attention of any kind. The intent of the company matters the most. Any less-than-average person knows all companies are there to make money. But he or she will only stick to a company that does not fleece him or her and talks simple and straight through its communication - C.David, ConnectCorp Advisory

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Reason Varies For Drawing Attention

idea posted by Sanjay Kumar Lahiri Business Advisor , Marketing, Amoliq Jewels Private Limited

The market seems watching,not much amused, the jostling among the product for getting a space. However tiny it may be. Amidst thses teeming products it is not easy to draw the attention and perhaps much more tough to sustain it.
It won't be  amiss to say that there is no universal rule which needs to be followed to draw the attention. Rather I should say it varies from product to product and consumer segment.
Some products draw their attention due to their price structure. Say for example "Nano." I am sure those who are ardent lovers of luxury cars not get attracted by this car. But now the question is  whether NANO could sustain the attention-I am quite sceptical . Since it failed to live up to expectation in terms of supply and quality maintenance.
Some changes always attract, according to consumer segment , and we should know - The Changes Are only Constant.

0
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customer required satisfactory return

idea posted by bharat Legal Consultant/Solicitor, bharatkumar lawyer

find out your business negativity

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A Thing of Beauty is Joy Forever!

idea posted by S. Muralidharan Executive Director, Knowledge Foundation & Campus Around the Corner
Our bountiful Nature is the only attraction and sustains everyone's attraction - Blue mountains, formidable beaches, camouflaged forests, tea and coffee gardens, wildlife sanctuaries, temples with architectural and aesthetic structures, children with golden smiles, unadulterated love and affection towards one and all! Man created things will not last longer!
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