1

5

6

7

8

On average, U.S.

corporations lose

of their customers

every 5 years. ~ Reicheld

9

An average company has a defection

rate of 10%-30% per year.

10

Raising your customer retention rate by

5% can increase the lifetime value of

average customer by 25% -100%.

11

12

On average, U.S.

corporations lose

of their customers

every 5 years. ~ Reicheld

Customer loyalty is a customer’s commitment or attachment to a brand, store, manufacturer,

service provider, or other entity.

13

Customer loyalty is measured by proportion of

purchase

a. Undivided loyalty: AAAAAAAAAA

14

Customer loyalty is measured by proportion of

purchase

a. Undivided loyalty: AAAAAAAAAA

b. Occasional switcher: AABAACAABB

15

Customer loyalty is measured by proportion of

purchase

a. Undivided loyalty: AAAAAAAAAA

b. Occasional switcher: AABAACAABB

c. Switched loyalty: AAAAABBBBB

16

Customer loyalty is measured by proportion of

purchase

a. Undivided loyalty: AAAAAAAAAA

b. Occasional switcher: AABAACAABB

c. Switched loyalty: AAAAABBBBB

d. Divided loyalty: AAABBBAABB

17

Customer loyalty is measured by proportion of

purchase

a. Undivided loyalty: AAAAAAAAAA

b. Occasional switcher: AABAACAABB

c. Switched loyalty: AAAAABBBBB

d. Divided loyalty: AAABBBAABB

e. Indifferent: ABCDADCBAC

18

On average, U.S.

corporations lose

of their customers

every 5 years. ~ Reicheld

Customer loyalty includes:

a. A behavior regarding the product

19

On average, U.S.

corporations lose

of their customers

every 5 years. ~ Reicheld

Customer loyalty includes:

a. A behavior regarding the product

b. An attitude towards the brand/company.

20

Challenge with behavior as a loyalty criteria is a

customer may repeat purchases because:

a. Convenience, price, availability, or inertia

due to habit.

21

Challenge with behavior as a loyalty criteria is a

customer may repeat purchases because:

a. Convenience, price, availability, or inertia

due to habit.

b. Purchases made w/out motive for choice

22

Attitude towards a brand is favorable that

reflects preference & commitment

expressed over time.

Includes emotional attachment

& positive evaluation

23

On average, U.S.

corporations lose

of their customers

every 5 years. ~ Reicheld

Behavior factors include:

a. Choice

b. History with company

24

On average, U.S.

corporations lose

of their customers

every 5 years. ~ Reicheld

Attitudinal factors include:

a. Satisfaction

b. Emotional Bonding

c. Trust

d. Risk reduction

25

On average, U.S.

corporations lose

of their customers

every 5 years. ~ Reicheld

Customer satisfaction: A post-purchase

evaluation that results from a comparison

between pre-purchase expectation and

actual performance

26

On average, U.S.

corporations lose Xerox found that a satisfaction rate of a 4 out of

5 were more likely to switch to competitor than

those that rated 5.

27

Emotional Bonding:

a. Brand affect, brand equity

b. Company attachment

28

Emotional Bonding:

a. Brand affect, brand equity

b. Company attachment

c. Feelings of closeness,

affection trust & respect

d. Technology limits emotional

bonds.

29

Willingness of customer to rely

on organization

30

Reduces uncertainty and risk

31

Honest, fair and unreasonable.

32

Customer

Retention

Strategies

33

1. Create A Culture

Of Buzz!

34

If the marketplace isn't talking about you,

there's a reason. The reason is that you're

boring. And you're probably boring on

purpose. You have boring pricing because it's

safer...You have boring products because

that's what the market wants.

~ Seth Godin

35

2. Consistency

builds trust!

36

Customer retention is a long-term game, not a

drive-by event.

37

Repetition, consistency & authenticity build

trust and are the foundational tools of

customer retention.

38

3. Trust most

important factor to

offer!

39

Lack of trust is the single

greatest reason you can’t

keep customers.

40

Trust is earned by keeping

promises.

Trust is lost by overpromising

& under delivering.

41

When you’ve earned trust, you

can make mistakes, own up to

them and correct them

without loss!

42

4. Staff as customer!

43

Your employees treat your

customers the same way you

treat the employees!

44

Must retain your best

employees so you can retain

your best customers.

45

5. Create an open

dashboard.

46

One-page, high-level view of

key strategic, marketing and

financial indicators.

47

Transparency with employees

key to company success and

vision as well as customer

retention.

48

6. Golden Rule Of

Customer Retention:

Give To Get

Mentality.

49

Those who usually give…get!

50

Approach customer relationships by asking,

"What am I here to give?" or

"How can I serve?“

Not, “What can I sell you.

51

Develop a strategic partner relationship with

a view toward adding value

52

7. Turn your attention

to educating not

selling.

53

Successful customer retention

provides valuable content &

education that shows how

brand understands customer

needs.

54

Content marketing strategy is

critical here…providing useful

and helpful content of value.

• Schmoll Moch

• Francisco Cisirio

• Bullion Vault

• Wildxplorer

• Morgan Cito

• Thomas Hawk

• FutUndBendl

• Xose Castro

• Bahman

• ArkansasSupportsP

hotography.com

• Nettsu

• CPThuh

• Andreas Kollegger

• Mag3737

• Patrick Hoesly

• Danard Vincente

• Transcam

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