Some of the ways of retaining long-term customers are: 1. Market the Existing Customers 2. Consistency in Approach and Interactions 3. Follow Commitments 4. Connect with Customers 5. Keep Promises 6. Position Company as a Resource for Life 7. Asking for Feedback and Input 8. Rewards for Staying on 9. Keep Learning. 10. Customer Visits 11. Personalized Email and Other [...]
In this article we will discuss about:- 1. Meaning of Customer 2. Types of Customers 3. Management. Meaning of Customer: Customers are the lifeblood of any organization be it a global corporation with thousands of employees and a multi-billion turnover, or a sole trader with a handful of regular customers. A customer, also called client, buyer, or purchaser, is usually [...]
This article throws light upon the four ways by which cost of acquiring customer should be used in analyzing the value of your customers. The ways are: 1. Determining Customer's Lifetime Value 2. Optimizing Cost of Acquiring Customers 3. Analyzing Cost of Acquiring Customers 4. Determining Worth of Current Customer. Way # 1. Determining Customer's Lifetime Value: Customer acquisition is [...]