Customer Loyalty is the measure of success of the supplier in retaining a long term relationship with the customer. Customer loyalty tends the customer to voluntarily choose a particular product against another for his need. The loyalty may be product specific or it may be company specific. Learn about:- 1. Introduction to Customer Loyalty 2. Meaning of Customer Loyalty 3. [...]
This article throws light upon the top ten ways used to retain the existing customers. Some of the ways are: 1. Welcome the Complaints you Receive 2. Instigate Loyalty Programs 3. Send out Questionnaires and Surveys to Existing Customers 4. Check for Repeat Sales Often to Instill your Company's Brand 5. Reactivate Dormant Customers and Others. Retaining the Existing Customer: [...]
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 [...]