Retaining Loyal Customers in E-commerce - Winning Customers is Good, But Keeping Them is Better

Retaining Loyal Customers in E-commerce - Winning Customers is Good, But Keeping Them is Better
Author: Tim Stricker
Publisher: GRIN Verlag
Total Pages: 85
Release: 2008-02
Genre: Business & Economics
ISBN: 3638916464

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Research Paper (undergraduate) from the year 2007 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 1,5, Fontys University of Applied Sciences Venlo (Fontys University of Applied Science Venlo, the Netherlands), course: International Business and Management Studies, 40 entries in the bibliography, language: English, abstract: "I know who you are, I remember you. I get you to talk to me. And then, because I know something about you, my competitors don't know, I can do something for you my competitors can't do - not for any price." (Newell, 2000) In today's business there is a shift of many companies away from a transactional mindset toward a relational mindset when it comes to dealing with customers. That is because researches proofed that nowadays for many companies profitability depends on the companies ability to develop and maintain long-term relationships with their clients (e.g. Lemon et al., 2002, pp.1-14). In order to gain a competitive edge, companies need to be customer-driven and able to serve their customers needs. Moreover, companies have to deliver a certain added value to exceed customer expectations and build strong relationships. In the traditional market, where face-to-face contact is possible, marketers get to know their clients personally. By personal contact, marketers have the possibility to build a personal relationship with their clients, figure out their needs and finally satisfy their needs by personalized services. As a result, customers are likely to stay with a company and the potential that they become loyal increases. However, the emergence of the internet and e-commerce makes it is very difficult for companies to build long-term relationships with customers. By means of the internet the personal contact to customers is abolished and a reduction of transaction costs is enabled, which in turn creates a new set of customer expectations. Therefore, the potential that custo

Customer Winback

Customer Winback
Author: Jill Griffin
Publisher: John Wiley & Sons
Total Pages: 336
Release: 2002-02-28
Genre: Business & Economics
ISBN: 0787959448

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Most firms consider the lost customer a lost cause. But in this ground breaking book, Jill Griffin and Michael Lowenstein provide you with step-by-step solutions for winning back lost customers, saving customers on the brink of defection, and making your firm defection proof. Whether your business is small or large, product- or service-based, retail or wholesale, this book offers proven strategies for recognizing which lost customers have the highest win-back value and implementing a sure-fire plan to recover them. It includes the techniques of hundreds of innovative companies who are already working to recapture lost customers and keep them loyal. In today's hyper-competitive marketplace, no customer retention program can be entirely foolproof, but with this guide gives you today's best methods for winning back those customers you simply can't afford to let go.

Superior Customer Value

Superior Customer Value
Author: Art Weinstein
Publisher: CRC Press
Total Pages: 323
Release: 2012-02-24
Genre: Business & Economics
ISBN: 1439861285

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A customer-centric culture provides focus and direction for the organization, ensuring that exceptional value will be offered to customers — this, in turn, results in enhanced market performance. Unfortunately, caught up in the daily economic and competitive pressures of running complex and fast-changing businesses, managers may lose sight of customers’ desires. And, consequently, customer experiences often fall far short of expectations. Written by an expert with more than fifteen years of experience, Superior Customer Value: Strategies for Winning and Retaining Customers, Third Edition benchmarks the best companies and shows you what it truly means to create world-class value for customers. The book is a state-of-the-art guide to designing, implementing, and evaluating a customer value strategy in service, technology, and information-based organizations. It explores key marketing planning issues that emphasize relationship management strategies to keep customers happy. See What’s New in the Third Edition: New topics include: Business models Co-creation of value Corporate entrepreneurship Customer experience management Customer value metrics Net promoter score Image Innovation Social media Expanded coverage of: Customer relationship management E-business opportunities Written as an academic textbook for use in MBA programs, the book is highly readable, practical, and action-oriented, giving managers at all levels of experience guidance on how to improve marketing operations and create customer-centric organizations. It explains valuable tools such as customer value funnel, customer value assessment, service-quality-image-price (SQIP) analysis, and CRM models. Each chapter has a customer value insight checklist, action items, and informative figures and tables. This revised edition addresses current trends in value-adding business practice, from understanding how to drive a market and find new ventures to the rise in customer importance of the online arena and new models and metrics for customer loyalty and retention. Great companies amaze and delight customers — Superior Customer Value offers a strategic blueprint to learn from the market leaders and apply those lessons to your organization. Art Weinstein discusses the book in several videos on the CRC Press YouTube Channel.

THE ART OF CUSTOMER WINNING: DISCOVER HOW TO ATTRACT, CONQUER AND KEEP NEW CUSTOMERS

THE ART OF CUSTOMER WINNING: DISCOVER HOW TO ATTRACT, CONQUER AND KEEP NEW CUSTOMERS
Author: Marcel Souza
Publisher: Gavea Lab
Total Pages: 81
Release:
Genre: Business & Economics
ISBN:

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Unveil the secrets of customer attraction and retention with "The Art of Customer Winning: Discover How to Attract, Conquer, and Keep New Customers." Imagine having the power to effortlessly draw in customers, captivate their attention, and build relationships that last. This guide is your gateway to mastering the techniques that successful businesses use to win over customers. Whether you're a seasoned entrepreneur or just starting out, this resource holds the key to creating a customer base that not only grows but remains loyal. Dive into the strategies that are tried, tested, and proven to turn prospects into devoted customers. Learn how to craft compelling messages that resonate with your target audience, leaving a lasting impact and sparking their interest. Explore the art of building trust and credibility, essential ingredients for converting potential customers into loyal supporters. Discover how to address their pain points, fulfill their needs, and exceed their expectations, setting the foundation for long-term relationships. Navigate the intricacies of customer service and engagement, discovering how to create personalized experiences that leave customers coming back for more. From social media engagement to in-person interactions, this guide covers every avenue to ensure your customers feel valued. Unlock the insights of successful businesses that have mastered the delicate balance between attracting new customers and retaining existing ones. Learn the art of creating a seamless customer journey that encompasses every touchpoint, from the first impression to post-purchase follow-up. Don't miss out on the opportunity to transform your business into a customer-winning powerhouse. Grab your copy of "The Art of Customer Winning" now and embark on a journey to conquer the hearts and minds of your audience, fostering lasting relationships that drive growth and success.

How Best to Retain Your Business Customers

How Best to Retain Your Business Customers
Author: David a Osei
Publisher:
Total Pages: 26
Release: 2019-11-23
Genre:
ISBN: 9781710782561

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Customer loyalty is the single most important element to retain within a business relationship. A lot of positive elements can be derived from a well established loyal customer base. Huge amounts of money is periodically allocated to advertising, primarily to garner a bigger market share of consumers, but with the existence of a loyal customer base, this expenses can be channeled towards other better and more beneficial areas.Companies which have a satisfactory percentage of loyal customers have the advantage of channeling funds into a self reinforcing system in which the company delivers constantly evolving superior value and high quality products and services.This will further create the comfortable relationship desired to continue to successfully keep the customers both happy and loyal.There is also the added advantage of the preexisting customers who consciously help to introduce friends and family to consider using the products and services based on personal testimonies and enthusiasm.

E-Loyalty

E-Loyalty
Author: Ellen Reid Smith
Publisher: HarperCollins Publishers
Total Pages: 312
Release: 2000
Genre: Business & Economics
ISBN:

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"No matter which segment of the online economy you hail from, this is the essential handbook for initiating, cultivating, and extending that rarest of company assets: e-loyalty."--BOOK JACKET.

50 Powerful Ideas You Can Use to Keep Your Customers, Third Edition

50 Powerful Ideas You Can Use to Keep Your Customers, Third Edition
Author: Paul R. Timm
Publisher: Red Wheel/Weiser
Total Pages: 160
Release: 2002-05-15
Genre: Business & Economics
ISBN: 1601637020

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50 Simple Yet Effective Ways to Keep Customers Happy and Coming Back for More Ultimately, every successful enterprise must attract, serve, and win the loyalty of customers by providing worthwhile products and delivering excellent service. Getting and maintaining loyal customers affect an organization’s bottom line more than any ad campaign, marketing program, or PR effort. This book is designed to get all managers and employees thinking about the little things that can make all the difference. It’s a quick read—you can finish it in less time than it takes to deal with one customer complaint. And if you put the information within this book into action, you will be able to decrease customer complaints considerably. It’s packed with practical, applicable suggestions that can be put to work immediately, such as how to: Turn angry customers into lifelong clients Use a simple gesture to immediately put customers at ease Listen with more than your ears Easily give customers more than they expect Use negative feedback for positive action Managers and staff members alike can use this little manual to avoid the devastating ripple effects that turned-off customers can produce. It will easily show how everyone in a business, large or small, can creatively apply a constant flow of small, customer-centered innovations to create a consistent and persistent strengthening of your customer base.

Winning at Customer Retention

Winning at Customer Retention
Author: Jo Anna Brandi and Company
Publisher:
Total Pages: 179
Release: 1995-01-01
Genre: Consumer satisfaction
ISBN: 9780943210407

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A little book with big impact, this one-idea-on-a- page book delivers insight that can be used at every level of an organization to build and sustain customer retention and loyalty. Based on the premise that the businesses that will thrive are those that recognize and nurture strong, trusting relationships, "Winning" offers a new look at the interaction between marketing and customer care. At the heart of "relationship marketing" is relationship mastery. The better you are at building relationships the better you are at business. This book presents a diverse mix of relationship skills - some geared towards external customers some towards internal customers and some towards the individual - all designed to create customer loyalty and enhance customer lifetime value. Covering topics from Defining Values to Having Fun, it's short, clever, easy to read and most importantly useful in teaching every person in the company the importance of customer caring at all levels. After all, Customer Caring is everyone's business. This was Jo Anna Brandi "The Customer Care Lady's" first look and it still remain a favorite after it's fourth printing!

Who Stole My Customer??

Who Stole My Customer??
Author: Harvey Thompson
Publisher: Pearson Education
Total Pages: 224
Release: 2015
Genre: Business & Economics
ISBN: 013400969X

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Rebuild customer loyalty, strengthen customer relationships, and leverage the immense power of customer co-innovation! This text is the world's definitive guide to rebuilding customer loyalty: must-reading in C-Suites and top business schools worldwide. For decades, Thompson has been the go-to expert for CxOs seeking to optimize their customer growth and retention strategies. This edition sharpens the focus on two of the most crucial strategic challenges identified by 1,300+ current CEOs: strengthening customer relationships and promoting innovation. Drawing on the author's immense enterprise experience, this book helps you overcome fundamental corporate culture issues that impede both relationship-building and innovation. It also demonstrates how to construct customer-driven business models and management systems that improve retention by systematically involving customers in co-innovation around goals and visions they help define.

Never Lose a Customer Again

Never Lose a Customer Again
Author: Joey Coleman
Publisher: Penguin
Total Pages: 370
Release: 2018-04-03
Genre: Business & Economics
ISBN: 0735220034

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Award-winning speaker and business consultant Joey Coleman teaches audiences and companies all over the world how to turn a one-time purchaser into a lifelong customer. Coleman's theory of building customer loyalty isn't about focusing on marketing or closing the sale: It's about the First 100 Days® after the sale and the interactions the customer experiences. While new customers experience joy, euphoria, and excitement, these feelings quickly shift to fear, doubt, and uncertainty as buyer's remorse sets in. Across all industries, somewhere between 20%-70% of newly acquired customers will stop doing business with a company with the first 100 days of being a new customer because they feel neglected in the early stages of customer onboarding. In Never Lose a Customer Again, Coleman offers a philosophy and methodology for dramatically increasing customer retention and as a result, the bottom line. He identifies eight distinct emotional phases customers go through in the 100 days following a purchase. From an impulse buy at Starbucks to the thoughtful purchase of a first house, all customers have the potential to experience the eight phases of the customer journey. If you can understand and anticipate the customers' emotions, you can apply a myriad of tools and techniques -- in-person, email, phone, mail, video, and presents -- to cement a long and valuable relationship. Coleman's system is presented through research and case studies showing how best-in-class companies create remarkable customer experiences at each step in the customer lifecycle. In the "Acclimate" stage, customers need you to hold their hand and over-explain how to use your product or service. They're often too embarrassed to admit they're confused. Take a cue from Canadian software company PolicyMedical and their challenge of getting non-technical users to undergo a complex installation and implementation process. They turned a series of project spreadsheets and installation manuals into a beautiful puzzle customers could assemble after completing each milestone. In the "Adopt" stage, customers should be welcomed to the highest tier of tribal membership with both public and private recognitions. For instance, Sephora's VIB Rogue member welcome gift provides a metallic membership card (private recognition) and a members-only shade of lipstick (for public display). In the final stage, "Advocate," loyal customers and raving fans are primed to provide powerful referrals. That's how elite entrepreneurial event MastermindTalks continues to sell-out their conference year after year - with zero dollars spent on marketing. By surprising their loyal fans with amazing referral bonuses (an all-expenses paid safari?!) they guarantee their community will keep providing perfect referrals. Drawing on nearly two decades of consulting and keynoting, Coleman provides strategies and systems to increase customer loyalty. Applicable to companies in any industry and of any size (whether measured in employee count, revenue, or total number of customers), implementing his methods regularly leads to an increase in profits of 25-100%. Working with well-known clients like Hyatt Hotels, Zappos, and NASA, as well as mom-and-pop shops and solo entrepreneurs around the world, Coleman's customer retention system has produced incredible results in dozens of industries. His approach to creating remarkable customer experiences requires minimal financial investment and will be fun for owners, employees, and teams to implement. This book is required reading for business owners, CEOs, and managers - as well as sales and marketing teams, account managers, and customer service representatives looking for easy to implement action steps that result in lasting change, increased profits, and lifelong customer retention.