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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. Put Your Marketing To The "So What?" Test Want to get Better at your Marketing today?For many service business owners, marketing can be a real mystery. We don't really know exactly how it works. We're not real sure about what works best for us. And probably because of some past frustrations, we're not even sure where to start.Most seem to at least have a notion of what's involved in marketing...a web site, Yellow Pages advertising, brochures, direct mailings, networking, seminars, trade … 2. Time for A Marketing Tune-up By Michele Schermerhorn If you have been in business any length of time, I can assure you that habits, not conscious thought, are guiding your marketing actions. Many business people are great optimists, or they probably wouldn’t have gotten into the game to begin with. They keep doing everything they’ve ever done in the hope that one day it will produce results. STOP! It’s time to get the brain back in the game!If you are like most people, each time you come across a… 3. Marketing Hat for Graphic Designers or Wannabe’s By Joy Gendusa Many people think that the quality of any graphic design is determined by how aesthetically pleasing it is: Although making the card look good is important, this couldn't be further from the truth. The only true measure of any design, at least commercially, is "How well does it pull?". By pull we mean what type of response does it elicit? Does it pull in calls, or pull people into the store? In essence, does the design accomplish what it set… 4. 10 Surefire Ways to Add Sizzle to Your Brochures By Shannon Cherry Businesses rely on brochures as their front line in communicating their products or services. Yet according to Shannon Cherry, APR, many find them not as successful because they underestimate the skills and resources necessary to publish attractive and effective materials.“Most people forget a brochure is important because it represents you to the world and reflects your image,” says Cherry, president of Cherry Communications, a public relation… |