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Understanding customer retention.
Tags :
customers, strategies, retention, advertising, selling, marketing, branding, product.
Industry :
Consumer Durables, IT Products
Functional Area : Product Development, Branding, Consumer Sales, Strategy Execution |
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About "Understanding customer retention." topic:
Everyone wants to retain their existing customers. Few companies, however, are implementing positive strategies aimed at retention. Most companies are organized for acquisition. Their advertising and sales programs are designed to find and promote their products and services to new customers. The companies are organized on a product or brand basis, not on a customer segment basis. While they all have customer service departments, and most have a customer service toll free number, they lack an integrated marketing strategy that is directed at retention, and that defines retention as the measurement of success.
So lets discuss about How to build a customer retention strategy & how to implement customer retention which can ensure success.
So lets discuss about How to build a customer retention strategy & how to implement customer retention which can ensure success.
4 debates
, 5 idea contests
on topic: "Understanding customer retention."
Prev1NextShowing 1 - 8 of 8
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(rate this)
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Customer retention
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87
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VS |
21
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New customers
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Srinivas suravajhala
| Argues in support of
"Customer retention"
| 5 months ago
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I strongly believe they are not mutually exclusive. Retaining the customers does not mean that there need not be a strategy for luring the new customers. Luring the new customers also required to stay ahead in the race and to spread your base in...
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amit jain
| Argues in support of
"New customers"
| 1 year ago
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I am in markting from last 10 years. As per my obervation new customer is must to increase your business and brand.It help to increase your business and market reach.No one can row without new customer. Existing customers help u in repeated...
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Purvi Ghosh
| Argues in support of
"Customer retention"
| 2 years ago
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Before you spend your time and money going after new customers and clients you do not currently have a relationship with consider the following statistics: * Repeat customers spend 33% more than new customers. * Referrals among repeat...
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Debate: "Which is the best strategy: customer retention or go for new customers?" deleted from your view.
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(rate this)
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1
BY CUSTOMER COMPLAINTS
2
Keep the brand young forever
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Omkar Nandi
| Added idea
"Keep the sparks flying"
| 1 year ago
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Finding new ways everytime to delight your existing customer, may be small or large but must bring a sense of belonging and pride to the customer
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vineet
| Added idea
"Screw your competition before, that screw you."
| 1 year ago
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A human nature is that most of us are Greedy (not just only in terms of money). Customer never satisfy with what they get. They always expect for more the next time they shop. There could be a strategy to extend the possitive gap between the...
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Abhijit Mudya
| Supported idea
"BY CUSTOMER COMPLAINTS"
| 1 year ago
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I corelate this with the the service industry, Anyways, now a days even products are sold as service..how many of us have bought a Car or a Cell Phone, without going through service or warranty cards? Once the cometition increases and the market...
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Ideate: "How to build a customer retention strategy?" deleted from your view.
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(rate this)
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1
Touch base frequently
2
Infusionsoft
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Hemanth kumar
| Supported idea
"Touch base frequently"
| 2 years ago
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i would agree on the same.It depends on the type of product usage and frequency of usage.Products which are in non-consumer durable category will have the answer in the product itself.Whereas in the consumer durable category,the feedback and...
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Gary L. Spencer
| Added idea
"Infusionsoft"
| 2 years ago
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I believe Infusionsoft works well to retain customers, a recent report suggested that email marketing will become a major part in creating new and existing business for small business owners. Infusionsoft combines CRM + email marketing + ecommerce...
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Ideate: "What are the different customer retention techniques?" deleted from your view.
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(rate this)
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1
Consumer spending
2
Satisfaction of the customer
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SATHISH PONNUSAMY
| Added idea
"Continuously understanding his needs and exceeding his expectations."
| 2 years ago
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Its a continuous ongoing business process, track his needs regularly, and strive to exceed his needs and expectations.This tracking will also bring complaints / dissatisfied feedback,which will be great opportunity to rectify and strengthen the...
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Kavitha Shankar
| Added idea
"Consumer spending"
| 2 years ago
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In my view, as markets become saturated and customers have so much more to choose from, share of wallet becomes increasingly important. It is cheaper and more profitable to increase your share of what the customer spends in your sector, than to...
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Ideate: "On what factors exactly customer retention relies on?" deleted from your view.
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(rate this)
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1
It can be a two-way targeted communication channel
2
Helpful to regular buyers and refering others
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Ajay Ziz
| Added idea
"for any mnc "
| 2 years ago
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market / s :: fight till the last person/any kingdom available in the universe
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Dharmena Prajapati
| Added idea
"It can be a two-way targeted communication channel"
| 2 years ago
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The high cost of personalized customer communication has also been an obstacle to effective real-time marketing. In my experience, telemarketing has traditionally been the outbound marketing channel of choice for the mobile network operators, but...
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Ideate: "What can be the role of the technology in customer retention and building loyalty?" deleted from your view.
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(rate this)
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1
Satisfied vs retained customers costs
2
Both are required
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aniketskale
| Supported idea
"Good after sale service"
| 2 years ago
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yes shalabh m agreed with u ..major point is proper selling. if proper selling done then customer retained and provide more customers as well
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harshika sarbajna
| Supported idea
"Both are required"
| 2 years ago
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I agree with Balaji here. Retaining old customers is required for sustaining the business;and acquiring new customers isssential to grow it vertically. You cant choose between the two or it will either lead to stagnation or ultimate demise. Take...
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NITIN DEOLE
| Supported idea
"Satisfied vs retained customers costs"
| 2 years ago
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yeasss!! True!! infact the companies become great by retaining customers rather than finding new customers. If a customer is retained he relies on product/service a business offers, it means that business is customer focused is truly engaged in...
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Ideate: "Why is it tough to retain customers?" deleted from your view.
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(rate this)
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Petrol
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3
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VS |
1
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Diesel
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Michael Daniel
| Argues in support of
"Diesel"
| 1 year ago
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Mileage generally relates with the Diesel Variants..and moreover now a days Diesel Engines Are More Refined and Zippy.
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Arvind Shastry
| Argues in support of
"Petrol"
| 1 year ago
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Somnath I agree that petrol diesel prices are hiking. But this debates makes no sense. Customer wants mileage but can't tell whether it can be a petrol or diesel. It depends on the vehicle the customer uses. So give some sides that can be debated.
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Debate: "Customer Wants more mileage" deleted from your view.
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(rate this)
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Market research help understanding expectations
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6
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VS |
0
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No need to research for customer expectations
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Anoop Dhopte
| Argues in support of
"Market research help understanding expectations"
| 1 year ago
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Small but funny story: A disappointed salesman of Coca Cola returns from his Middle East assignment. A friend asked, "Why weren't you successful with the Arabs?" The salesman explained, "When I got posted in the Middle East , I was very...
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Debate: ". How does market research help in understanding customer expectations " deleted from your view.
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Hi All, Came across a nice artical, thought beneficial for all HR professionals : What else does it take to K.E.E.P your employees satisfied? "People work for much more than a paycheck." Most employees are looking for common elements from the people they work for . People, regardless of position, seek a good " Relationship with their manager ", " A positive work environment ", and " Praise and recognition ". Successfully combine these three elements and implement them effectively and you have created the foundation for a great retention strategy. It is obvious that these crucial elements have little or nothing to do with compensation. Instead they remind us an important fact: People work for much more than a paycheck. People not only want their jobs to be a source of income but a source of attaining pride, professional development, enjoyment, and acknowledgment of their skills and efforts as well. With this in mind, I would like to introduce to you a retention-boosting method,...
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