Everyone has their marketing pet peeve. Mine is companies that reward new customers acquisition instead of repeat buyers. And it happens All. The. Time. Just the other night, I ordered food from a delivery company I hadn’t used before. Yep, this new COVID world needed a little variety. As a first-time customer, I got the …
MARKETING PET PEEVE: CUSTOMER ACQUISITION VS. CUSTOMER RETENTION Read More »
The Rule of 80-20 says you get 80% of the distance to your goal with 20% of the effort. In the world of sales, the 80-20 would mean that 80% of a company’s revenue comes from just 20% of its customers. Does that work? Can you apply that “Rule” to sales accurately? Certainly, the perception …
THE RULE OF 80-20 FOR CUSTOMERS: THE CX LEADER PODCAST Read More »
When responsibility for customer retention is dispersed throughout a company it impacts revenue and relationships with existing customers, but it can also hurt sales efforts with new customers. Fortunately, there’s a simple way to combat these problems.
So you want to prevent customer churn? Consider these scenarios: Scenario#1 Picture a high-end jewelry store. Fine jewelry isn’t purchased on any regular schedule, so the business doesn’t always know when a customer wants to make a new purchase. Let’s assume this company offers an incredible in-store experience. They send occasional emails and mailers about …
