How can companies attract and retain the right customers and cultivate strong customer relationships

CULTIVATING CUSTOMER RELATIONSHIPS AND RETAINING AND ATTRACTING CUSTOMERS….

HOW??

a

Customer Relationships

Building strong long term relationships is very important

a

Customer Relationship Management

Focuses on customer’s TOUCH POINTS to maximize loyalty

a

Personalized Marketing

Dominos has introduced a new “build your own pizza” feature on its website that allows customers to watch a simulated photographic

version of their pizza

a

Permission Marketing

Involves gaining permission of consumer for marketing

aONE TO ONE MARKETING

a

Customer Empowerment

The power is with the customer, marketers and retailers are scrambling to keep with it

a

Customer Reviews

Recommendation from customers is an important factor in

establishing customer

relationships and attracting new

customers

a

Companies must retain the customers. Adding customers here is like adding water to a

leaking bucket

a

Marketing Funnel

a

Managing Customer BaseReducing the rate of customer defection

Increasing longevity of customer relationship

Enhancing growth potential of each customer

Treating low profitable customers smartly

Focusing disproportionate effort on high profit customers

a

Building Loyalty

Interacting with custom

ers

Developing

Loyalty Progra

ms

Creating

Institutional Ties

a

Disclaimer

Created by Palak Goyal, IIT Kharagpur during an internship by Prof. Sameer Mathur, IIM Lucknow

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