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Customer Loyalty Lib/E: Top Strategies for Increasing Your Company's Bottom Line
"Customer Loyalty" is a collection of all the top real-world tools, strategies, and principles used by today s top brands to increase their customer loyalty and the overall lifetime value of their customers. Do you like Coca Cola or Pepsi? Hershey or Mars chocolate? For whatever reason, you likely have a preference, and that preference has everything to do with their customer loyalty and retention strategy. Find out how to give your business the cutting edge and leave your customers selecting you as their preference among all your competition."
- GenresBusinessNonfiction
Audio CD
First published June 21, 2013
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Displaying 1 - 3 of 3 reviews
December 8, 2022
A set of somewhat monotonous collective essays on business practices and customer loyalty. Perhaps because the book is now 8 years old, most of their big ideas are nothing new.
September 10, 2021
I didn't learn much from this collection of essays on customer loyalty by various authors.
Notes
Most customers are serial daters; they want an open relationship. They'll date your brand, but they want to be able to date other brands too. To make them loyal to you, you must fill relationship with passion; connect with customer's interests. Build relationship in subsequent touches by showing that you understand them, and by revealing brand philosophy and purpose.
By knowing customers, you can customize offers to individual customers, so they feel special.
Someone in your company should personally contact each customer every 2 months. If customer doesn't contact you within that time, reach out directly, personally to them. Broadcasts (such as email newsletters) don't build connection and loyalty.
Customer loyalty programs are excellent low-cost marketing, because of word of mouth and loyalty they generate. Options: give free add-on services after paying for a certain number, give a free service after paying for a certain number, allow to pay monthly for discount, allow customers to build a collection of gifts over time.
"When you tell people why, they are more likely to comply." Tell staff why you have policies, so they understand reasons behind them.
Cash isn't a good referral motivator; it decreases and discourages referrals, because it turns a favor into a financial transaction. Instead, give gifts (not gift certificates, which are too close to cash). If customer is worth $50k, consider giving a $50 gift to referrer. If customer is worth only a few dollars, a handwritten card is fine.
Show continued appreciation for long-term customers. Up to 64% of customers will leave because they feel you don't value their business, even if you haven't done anything terribly wrong. Use holidays, company celebrations, unusual special occasions, etc. as excuses for reaching out, and possibly giving gifts.
Notes
Most customers are serial daters; they want an open relationship. They'll date your brand, but they want to be able to date other brands too. To make them loyal to you, you must fill relationship with passion; connect with customer's interests. Build relationship in subsequent touches by showing that you understand them, and by revealing brand philosophy and purpose.
By knowing customers, you can customize offers to individual customers, so they feel special.
Someone in your company should personally contact each customer every 2 months. If customer doesn't contact you within that time, reach out directly, personally to them. Broadcasts (such as email newsletters) don't build connection and loyalty.
Customer loyalty programs are excellent low-cost marketing, because of word of mouth and loyalty they generate. Options: give free add-on services after paying for a certain number, give a free service after paying for a certain number, allow to pay monthly for discount, allow customers to build a collection of gifts over time.
"When you tell people why, they are more likely to comply." Tell staff why you have policies, so they understand reasons behind them.
Cash isn't a good referral motivator; it decreases and discourages referrals, because it turns a favor into a financial transaction. Instead, give gifts (not gift certificates, which are too close to cash). If customer is worth $50k, consider giving a $50 gift to referrer. If customer is worth only a few dollars, a handwritten card is fine.
Show continued appreciation for long-term customers. Up to 64% of customers will leave because they feel you don't value their business, even if you haven't done anything terribly wrong. Use holidays, company celebrations, unusual special occasions, etc. as excuses for reaching out, and possibly giving gifts.
October 4, 2014
“Customer Loyalty: Top Strategies for Increasing Your Company's Bottom-Line” by Justin Sachs is a good collection of essays on customer loyalty. I always liked Jeffrey Gitomer's example of the difference between satisfied customers or loyal customers, when he discussed the importance of making loyal customers and not just satisfied customers. He asks if you would rather have a satisfied or loyal spouse. Yes, customer loyalty is important. Very important.
This book looks at what customer loyalty is, and how you can increase it and thus improve your business's bottom-line. The chapters are provided by different business leaders, and each focuses on a different aspect of customer loyalty. There are some great ideas and examples within these pages, as each person who contributed to this book has been there and done that.
Because each chapter is written by someone different, there isn't a continuous flow or theme throughout the book other than each section is about customer loyalty. However, because of this, one can also pick up the book and read any chapter to gain from that author, or to reinforce that focus on customer loyalty. Again, it is more of a collection of essays than a regular type business book. And that can be a big benefit to the business leader short on time. Read select chapters and implement those ideas as you can squeeze them in.
As I mentioned above, customer loyalty is extremely valuable, and each business should strive to instil loyalty in its customers. This book is a very good collection of strategies you can use to do just that.
This book looks at what customer loyalty is, and how you can increase it and thus improve your business's bottom-line. The chapters are provided by different business leaders, and each focuses on a different aspect of customer loyalty. There are some great ideas and examples within these pages, as each person who contributed to this book has been there and done that.
Because each chapter is written by someone different, there isn't a continuous flow or theme throughout the book other than each section is about customer loyalty. However, because of this, one can also pick up the book and read any chapter to gain from that author, or to reinforce that focus on customer loyalty. Again, it is more of a collection of essays than a regular type business book. And that can be a big benefit to the business leader short on time. Read select chapters and implement those ideas as you can squeeze them in.
As I mentioned above, customer loyalty is extremely valuable, and each business should strive to instil loyalty in its customers. This book is a very good collection of strategies you can use to do just that.
Displaying 1 - 3 of 3 reviews