PPT-Chapter 14 Customer Loyalty and Retention

Chapter Objectives Understand the differences between the service marketing concepts of loyalty and retention and the relationship between the two Discuss why the concept of customer retention has become increasingly important. And 57375en 57375ere Were None meets the standard for Range of Reading and Level of Text Complexity for grade 8 Its structure pacing and universal appeal make it an appropriate reading choice for reluctant readers 57375e book also o57373ers students Gordon Tan. G. ordon@clientheartbeat.com. INCREASE RETENTION AND BUILD ‘STICKY’ CLIENTS. AGENDA. Identify unhappy clients. Stop . clients from defecting. Strategies . to increase . client retention. Donor Retention . Process not a Project. Commitment. Retention . Versus. . Loyalty. How do they relate?. Retain. 1. to . keep possession of. 2. to continue to use, practice, etc.: . to retain an . Loyalty . St. 6. Objective: Students will Evaluate, Develop, & Measure customer loyalty & Satisfaction. Customer Loyalty. Faithful to a cause, ideal, custom, institution or product.. Unswerving allegiance to specific brands or products. . Gordon Tan. G. ordon@clientheartbeat.com. INCREASE RETENTION AND BUILD ‘STICKY’ CLIENTS. AGENDA. Identify unhappy clients. Stop . clients from defecting. Strategies . to increase . client retention. and Loyalty. Dr. Ananda . Sabil. Hussein. Chapter Questions. What are customer value, satisfaction, and loyalty, and how can companies deliver them?. What is the lifetime value of customers?. How can companies cultivate strong customer relationships?. USING DIFFICULT TIMES TO DEMONSTRATE MY COMMITMENT TO THOSE I SERVE. LOYALTY vs. UNFAITHFULNESS. How many people are loyal and faithful to the principles and character that they themselves have agreed to?. MANAGING B2B . CUSTOMER LOYALTY . Today’s competitive markets require a well defined Customer Experience (CX) strategy. The 3 important steps to have a well defined CX strategy are . Hence. , . Platform for . Brick-and-Mortar SMBs. POWERFUL. SIMPLE. AFFORDABLE.. Building Loyalty & Customer Engagement is still a Struggle in . 2014. Consumers. , . SMBs, eager for effective and ‘easy to use’ loyalty services . edition. Chapter 7: Relational and sustainability strategies. Learning Objectives. Understand the importance of developing relationships with customers.. Discover ways in which marketers can assess customer desirability and rank customers in terms of customer value to the firm.. Process not a Project. Commitment. Retention . Versus. . Loyalty. How do they relate?. Retain. 1. to . keep possession of. 2. to continue to use, practice, etc.: . to retain an . old custom. . . 3. to continue to hold or have. Customer Analytics for Individualized Marketing. Loyalty Builders Capabilities Overview. March 2014. © Loyalty Builders, Inc. 2014. 1. Customer marketing analytics. Analyze transaction data at the . insight driven . execution!. Efficiency. OUR MISSION. TANI AT A GLANCE. 13 years. 23+ . Sectors. 65+ . Brands. 6.121+ . Campaigns/year. 1.15 BN TL+ . Inc.Revenue. 29 . Loyalty Programs. 44 M+ . Unique Consumers. Rewards and loyalty schemes have become an essential component of prosperous business in the last few years. These initiatives have transformed how businesses encourage customer loyalty, from airplanes to neighborhood shoe stores. The introduction of reward schemes has also significantly changed customer preferences. Businesses are primarily using these consumer tendencies to their advantage in order to promote success and guarantee enduring loyalty.

In addition to guaranteeing devoted customers, loyalty programs and prizes benefit businesses in numerous ways. Having strong loyalty programs across all platforms is very beneficial to organizations. Customers are encouraged to give their information for prizes and incentives, and it serves as a source of data collecting. A few of the loyalty trends that in 2024 will revolutionize direct selling companies are,

Tiered loyalty programs
This is a great way for brands to drive revenue and boost client lifetime value. Customers are rewarded and ranked according to purchases made or awards received in tiered loyalty programs. Customers are encouraged to buy more and climb the ladder to the highest tier in this fashion.

Paid loyalty programs
Large brands such as Amazon have already acknowledged the benefits of paid loyalty programs. Customers feel pampered with unique offers and discounts even when they have to pay for a brand program. Excellent prior experiences will motivate clients to keep investing more in the business they adore.