© Tom Smith, Insights From Analytics, 2014. 1

CUSTOMER BONDING PROGRAMS

© Tom Smith, Insights From Analytics, 2014. 2

WHAT ARE CUSTOMER BONDING PROGRAMS?

• Customer relationship management• Enhance clients’ relationships with prospects or

customers

© Tom Smith, Insights From Analytics, 2014. 3

PREMISE

• Any successful business’ most valuable asset is its current customers

© Tom Smith, Insights From Analytics, 2014. 4

OBJECTIVES

• Move customers up the hierarchy• Increase LCV• Increase “share of wallet”• Go beyond “share-of-mind” to “share-of-life”• Reduce churn• Engender loyalty

© Tom Smith, Insights From Analytics, 2014. 5

CUSTOMER HIERARCHY

Prospects

Users

Customers

Advocates or “Raving Fans”

© Tom Smith, Insights From Analytics, 2014. 6

STRATEGIES

• Relational database• CSMI (customer satisfaction measurement &

improvement)• Provide value• Customers for Life• Demonstrate sensitivity

© Tom Smith, Insights From Analytics, 2014. 7

TARGET AUDIENCES

• Current customers– Retail– B2B

• Prospects– Retail– B2B

• Sales– Internal– External

© Tom Smith, Insights From Analytics, 2014.

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TACTICS

• Events• Cause related marketing• Welcome kits• Newsletters• Customer satisfaction studies

© Tom Smith, Insights From Analytics, 2014.

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PROTOTYPICAL PROGRAM

1. Welcome kit2. CSMI3. Check-in4. Cross-sell5. Free gift/trial6. “Turn in a friend”7. Contract renewal8. Anniversary

© Tom Smith, Insights From Analytics, 2014.

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NEXT STEPS

• How can your clients benefit from a customer bonding program?

• For whom can you write a recommendation or provide a referral?