Customer retention is as important to company growth as reeling in new blood.The world of Groupon and Living Social has changed the ways we obtain and maintain

fans that consume— and not just “like” us online.

What is good Customer service Really about?

$$$ IDENTITY

CREATIVITYREWARDS

TRUSTSUPPORT

Brand IdentityPeople aren’t buying a product or service; they’re buying comfort, familiarity, hope, and a promise they perceive.

- Brand to engender the sense that you’re already a household name

- Show and tell how your brand is different, don’t be a copycat

Build Relationships With CustomersIngrain your brand into daily life—be a thread in the fabric of the consumers’ day. Engage with them on:

- Social media platforms- Email- Television- Satellite radio interviews and mentions

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ComeBack

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Analyze your efficacyNo matter what you do, if you’re not tracking what’s working, it won’t matter.

Sources:- Customer Attrition and Retention Analysis - http://tinyurl.com/l5xvs94

- 2011 global banking survey: a new era of customer expectation: Prevent customer attrition - http://tinyurl.com/p7w8oqn

- Get More Loyalty, Engagement and Insights In Store with PunchTab - http://tinyurl.com/lnjrqa4

- How Do I Perform a Customer Loyalty Analysis? - http://tinyurl.com/kcu5pv7

- Zag: The Number One Strategy of High-Performance Brands,By Marty Neumeier - http://tinyurl.com/khjtvth

E N A B L I N G LO YA LT Y V S . P R E V E N T I N G AT T R I T I O N

The price is rightIt may seem counterintuitive, but people like to spend—it gives them the sense that what they are buying is better.

- Pricing is an art form: Look at how competitors are pricing, then look at how well they’re doing in the marketplace.

- Make decisions about your pricing based on information you gather in addition to data about your overhead and most recent fiscal reports.

Keep attrition at bayGarner loyalty from existing customers by keeping prices at the top of the market value.

- Offer coupons and deals sparsely; send the message that the price is right because the product is superior.

- Keep your sales and marketing team in the loop on this ideal: we’re not selling bargain basement sloppy seconds, and that must be apparent in brand collateral and in how sales reps discuss product.

Be creative. Not nervous.Your “come on back” email should be laid back, not intense.

- Incentivize to peak their interest, but not kill your profit margin:

- Free shipping - BOGO: move out old inventory, bring in the new- Free samples with purchase

Reward loyaltyThis is where special offers are effective. Send emails or postcards on customer birthdays and before holidays.

Make it personalAsk them to tell you how you’re doing, and remind them of how long they’ve been with you, and thank them kindly.

Use analytics toolsA host of tools can help make sense of why cus-tomers are coming, and why they are leaving.

– Pick analytics tools that tell you about loyalty via handhelds and geo-location

– Encourage customers to use your app to track purchases, returns, and satisfaction

Look at the long runIdentify goals that take the mystery out of under-standing whether the data generated is getting you closer or further from company goals.

- Hire data scientists or use existing IT staff to analyze data; expedite the use of this informa-tion to prevent attrition in its tracks

Keep them with kindnessKindness works with those who have been loyal. Much of attrition is caused by not addressing old

customers, and making the mistake of thinking they don’t notice.

Come on back, we won’t biteWhen a potential customer drops off of the payment page, send them an email incentive.

When an existing customer does the same, ask them why via email.

Desperation: the world’s worst cologneIf everything a brand is putting out is an anxious, sweaty attempt at begging for return

business, customers may jump ship.

Creating loyalty equals customer loss preventionSome customers would be loyal no matter what their favorite brands did. The Apple Maps nightmare,

Android’s incompatibility with Instagram, Huggies Overnites not making it through the night—yet people who buy these brands rarely walk away. How do they do it?