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15 Important Tips To Help You Keep Your Customers

15 Important Tips To Help You Keep Your Customers | Strategies for Managing Your Business | Scoop.it

Excerpted from article:
"According to the Harvard Business School, increasing customer retention rates by 5 percent increases profits by 25 percent to 95 percent.
In order to help you increase your own retention rates, we’ve compiled a list of our 15 favorite tips (backed by academic research and case studies) on increasing customer loyalty, divided into five easy-to-browse sections.

- Communication
It’s hard to create loyal customers if they aren’t paying attention to you. Given this fact, below are our favorite bits of research on clear communication with customers.
1. Stand for something;
2. Utilize positive social proof;
3. Invoke the inner ego;

- Selling
If customers don’t enjoy your selling process, they’ll likely never do business with you again. Thus, selling to customers the “correct” way is an integral part of creating customer loyalty. Below are a few studies to help you improve the process.
4. Use the words they love to hear;
5. Reduce pain points and friction;

- Reciprocity
Reciprocity is the social construct that makes the world go ’round… or in your case, keeps your customers coming back. The premise is simple: Go above and beyond for customers and get rewarded with repeat business. The execution, however, can be trickier, so below is a compilation of interesting research on how to improve reciprocity with your customers.
6. Realize that budget is negligible;
7. Utilize surprise reciprocity;
8. Make it personal;

- Support
This one is a no-brainer: You can’t create a tribe of loyal customers without an exceptional customer service experience that keeps them coming back. In this section, we’re going to bust a few customer service myths wide open, as well as tackle some important things you need to keep in mind when offering support online.
9. Speed is secondary to quality;
10. Customers enjoy businesses who know them;
11. Choose the right platform;
12. Make it a communal effort;

- Loyalty Programs
The key to creating customer loyalty programs that work is to know why customers use them and what gets customers to keep using them. Below you’ll find consumer research that answers these questions.
13. Get people started;
14. Get ideal customers to be VIPs;
15. Label your customers..."

Each tip is analyzed with more information. Read full article here:
http://www.convinceandconvert.com/social-media-marketing/15-important-tips-to-help-you-keep-your-customers/

 


Via Giuseppe Mauriello
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Rim Riahi's curator insight, March 14, 2013 1:56 AM

According to the Harvard Business School, increasing customer retention rates by 5 percent increases profits by 25 percent to 95 percent.
In order to help you increase your own retention rates, we’ve compiled a list of our 15 favorite tips (backed by academic research and case studies) on increasing customer loyalty, divided into five easy-to-browse sections.

Gaurav Pandey's curator insight, March 14, 2013 7:42 PM

Excellent post.

 

I'd like to add a few thoughts here: 

 

Customer retention is all about value creation and engagement. Don't make it all about your brand, some fun and entertainment such as polls, infographics, sweepstakes, pictures, videos etc. go a long way in retaining interest in your brand.

 

With the overload of one-dimensional posts on social pages of brands, it's even more important for marketers to go that extra mile  to gauge the pulse of your community. That said, you have to build a community first.

 

Social networks and communities are different, although there may be some overlap. It's these communities which will really provide momentum to your campaigns. By brining like-minded people together as part of these communities, businesses come across as more transparent and supportive than agressive. This is because in a community individuals come together and that gives them the power to decide collectively, to spread the word and take actions which are not forced on them.


If brands recognise this, they will understand that building communities and not just social networks is the way forward. Community building takes more than a few promoted posts and luring customers in with discount coupons, it takes sustained effort at building trust. And if a company manages to achieve this, the rewards are plentiful as their customers will then act as their brand ambassadors helping spread the message organically.

 

So my advice to marketers is be open, be responsive, be socially responsible and build trust through sustained effort. 

Please let me know your thoughts.

 

Cheers! 

Steve Bosworth's curator insight, March 27, 2013 12:47 AM

Excellent piece - read Convince and Convert #leadership 

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How to sell a tale: the power of stories in marketing

How to sell a tale: the power of stories in marketing | Strategies for Managing Your Business | Scoop.it
Brands aren't built on facts and statistics alone. Connecting with customers means understanding and deploying the power of stories in marketing.

Via Jim Signorelli,Story-Lab
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Jim Signorelli,Story-Lab's curator insight, September 3, 11:26 AM

This article provides a number of great points when it comes to the efficacy of brand storytelling, most important of which is the power of fiction over fact. 


However, it, like many articles on brand storytelling takes a point of view that I believe can be misleading.  It is the notion that the brand's role is to make the customer the hero.  


Many will (and have) disagreed with my contention that this limits the opportunity for the brand.   This is because we have always been taught to believe the customer is king or queen.  This may be true when it comes to a brand's service ethic, but this thought can get in the way when it comes to brand storytelling.


Consider this: Hero's are people we aspire to and emulate, not so much for what they do, but for what they value and believe in.   They provide us with a purpose that resonates with our own beliefs about what is important. 


I realize this could get into a lengthy article as opposed to an insight. So I'll just ask you to think about the brands you love and admire.  Are you emotionally attached to them because of the functions they perform or because of what they represent?  Here's yet another thing to consider:  When you see an ad that implies that a given product is going to make you a hero to your kids, or the envy of your neighbors, do you believe them? 


This review was written by Jim Signorelli for the curated content on business storytelling at www.scoop.it/just-story-it.


Jim Signorelli,Story-Lab's curator insight, September 3, 12:18 PM

This article provides a number of great points when it comes to the efficacy of brand storytelling, most important of which is the power of fiction over fact. 


However, it, like many articles on brand storytelling takes a point of view that I believe can be misleading.  It is the notion that the brand's role is to make the customer the hero.  


Many will (and have) disagreed with my contention that this limits the opportunity for the brand.   This is because we have always been taught to believe the customer is king or queen.  This may be true when it comes to a brand's service ethic, but this thought can get in the way when it comes to brand storytelling.


Consider this: Hero's are people we aspire to and emulate, not so much for what they do, but for what they value and believe in.   They provide us with a purpose that resonates with our own beliefs about what is important. 


I realize this could get into a lengthy article as opposed to an insight. So I'll just ask you to think about the brands you love and admire.  Are you emotionally attached to them because of the functions they perform or because of what they represent?  Here's yet another thing to consider:  When you see an ad that implies that a given product is going to make you a hero to your kids, or the envy of your neighbors, do you believe them? 

Rescooped by Trumans from Business Brainpower with the Human Touch
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The Only Two Rules You Need To Know To Be Successful In Work And Life

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There are three skills you need to be financially successful: making money, keeping money, growing money. James Altucher is mostly only good at making money.


"I’ve had several instances where I’ve started a business, sold it, made a lot of money, and then basically lost everything I made, whether it was $50 million or $5 million or whatever," he tells Fast Company. "I always have a tendency to lose everything I made."


There are some simple rules, like drink coffee first thing in the morning and 20 minutes before you write so that it "sets your brain on fire, makes you go to the bathroom, cleans your body out before you set your heart on fire." Then, there’s his 30% rule, which basically says that everyone should cut or rewrite at least 30% of their masterpiece after they think they’ve finished it.


Via Vicki Kossoff @ The Learning Factor
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Vicki Kossoff @ The Learning Factor's curator insight, September 1, 8:16 PM

Staying focused on the right things can make all the difference.

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There is definitely a few things I can take away from this article. I like the ideas concept, and also when your not healthy physically and emotionally your work suffers!

John Norman's curator insight, September 2, 6:15 PM

I shall be looking to leverage this advice for myself.

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Employee wins unfair dismissal case despite “inappropriate” emails to IT department

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Harvard says these 8 leadership traits are critical for success - Business Insider

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It's easy to let even a simple meeting get out of hand. Maintaining control is important; the room can sense when you are flustered, you easily forget your train of thought and control over the outcome.

I used some of the following techniques to maintain control over the meeting and bring the team back to a successful conclusion:


Slow It Down


It is common to increase your speech when you are nervous. To truly connect with your audience, you must slow down instead and control the speed of the discussion.


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I think the most important tip which can go cross more then just controlling a meeting is that it is ok to say that you don't know something.

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Coaching is not a solution to your problem | Joe Watkins

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