Customer Loyalty

Customer Focus Strategies

Organisations are progressively coming more adept at managing their customers but many are falling behind.  Those who have fallen behind may have failed to confront some key issues.  Increasingly, organisations are focusing on examining the emotional relationship they have with their customers.  If they are really clever they will alsoexamine the precise emotions that lead to the negative response of 'buyer's remorse' which culminates in migration of  customers straight into the hands of  competitors.

The key issues are:

• How do you segment your customers?
• How do you keep in contact with them?
• How do you proactively manage the relationship?
• Where are you most at risk from losing customers
• Do you know how much it costs you to service your customers?
• Do you track your relationship with your customers?
• Do you know how much profitability your segmented customers contribute to your bottom line?
• Do you know how much it costs to win a new customer?
• How long does it takes in time to covert interest to become one of your loyal customers?
• Do you have a quantifiable loss when you lose customers?
• What are the warning signs that your customers are migrating elsewhere?
• Specifically, why do customers move on?
• Customers often migrate because of emotional rather than financial considerations.  Where is there a breakdown in the relationship with your customers and how have you attempted to redress the balance?
• What strategies have you adopted to win back loyal customers and how does translate into your marketing activities and penetration?
• What's the life time value of your customers in each segment of your business? 

Here are some articles that may be of value.  We also understake Diagnostics, research and internal and external Customer management surveys.  If you require help -   contact us››

Prosperity or Survival: Creating a Customer Centric Culture in Financial Services››

Millennials: As Customers and Employees››