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How many of your customers are loyal customers? More importantly do you know why they are loyal customers? Customer loyalty has been a buzz term in marketing for some time and with good reason. Estimates suggest it can cost 5 times as much to get a new customer as it does to keep an existing one. Think about your business as having a bucket of customers. The customers you lose leak out a hole in the bottom of the bucket. Understanding how big the hole is for your business is the crucial first step to improving your customer loyalty. The second step is understanding why some customers stay and why others leave. Here's a simple way to measure the size of the hole in your bucket. Take the number of customers who bought from you last year. Then take the number that bought from you this year. The difference between the two figures is your net gain/loss of customers. So if last year the number was 5,000 and this year it's 4,600 your net loss is 400 customers. If you know the value of a customer each year then you can work out what the lost revenue is. Coming back to the customer bucket the hole is big enough to leak 400 customers a year. So why are they leaving? Common reasons customers leave include: - bad service Some reasons you can do something about, some you can't. When you know a customer is leaving or they haven't bought from you for a while see if you can find out why by asking them. Try an open ended question like 'thanks for being our customer, so we can continue to improve our service can I ask why you are leaving'. Not everyone will respond and that's OK. But those that do may give you valuable insights into things you can improve about your business. Take action on what you find. You should also be asking your loyal customers why they stay with you. You might be surprised by the answers you get. Often people stay for simple reasons. I get coffee from some places because the staff are friendly even though there is better coffee elsewhere. The friendly service makes the coffee taste better than it actually is. Have you had an experience like this? So make it your mission to find out why customers stay with you or leave you. When you see patterns that make people stay keep doing it. when you see common reasons people leave fix them. Good luck. Blackjack Winning Secrets. - Ex Blackjack Dealer Tells All! Extatic customers. Amazing 7% Conversion Ratio. Search Engine Cloaker (since 1995) - We are proud to help our customers achieve number 1 rankings in all engines for 10+ years. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 |
Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. Don't Advertise Your Business - Market It! By Greg Chapman Too many business owners believe that marketing their business means just paying for a few ads. What few understand is that Advertising is not the same as Marketing. Too many clients have come to us only after they have wasted large sums of money by copying their competitors with "me too" advertising. And the media and advertising agencies love it. When you approach an advertising agency, their mission will be to convince you to spend your enti… 2. 3 Crucial Elements For Jumping Sales Numbers By Allyn Cutts Marketers from every niche have common ground when it comes to bills. Yeah, every month there’s a new stack of bills demanding to be paid. Will there be enough profit to slide right through bill paying time without a flinch? Or do you find yourself fretting about whether you’ll even break even? You don’t have to be victimized by envelopes and 8x10 sheets of paper. Implement these 3 techniques to boost your sales.1. Find More Customers The first… 3. How to Profit from Your Expertise (Part 1 of 2) By Kelly O'Brien Are you looking for a natural way to market your professional services? What if you could exponentially multiply the number of motivated, pre-qualified prospects you reach in a fraction of the time that networking and referrals require?Now what if you could be the person in a crowed room with whom everyone wants to talk about your services? And no, they don’t want to sell you something…they want to buy what you’ve got.Too good to be true? Not i… 4. How to Start a Big Mail Service By DeAnna Spencer A BIG MAIL SHOULD CONTAIN:At least three to four Mail order Magazines Circulars containingoffers or interest to new mail order dealers. Circulars which theBig Mail Dealer has been to mail. Do you enjoy reading Mail Dealer magazines? Do you enjoy orderingand receiving "Big Mail?" Do you enjoy working with new MailOrder dealers and opportunity seekers? If your answer is "YES" toall of these questions, then it would probably be profitable andplea… |