Tag Archives: customer loyalty

What Was Hot in 1997?

16 Feb

We tend to spend a lot of time looking at the “hot new things,” such as connected vehicles, virtual assistants, and a lot more. But, as marketers, we seldom look back to the past to see what was hot then in terms of fads and long-running successes. What hot high-tech products from 20 years ago can YOU name?

Recently, CNET published an entertaining slideshow: “Flashback fun! Return with us now to the thrilling days of the late 1990s, when the Interweb was young, the CD was king, and the cloud was a white, fluffy thing that floated above your head while you gabbed on your cordless telephone.”

 

Click the image to see the CNET slideshow. Which of the items shown in the slideshow were fads; which were long-run successes?


 

Customer Service Means a Good Return Policy

3 Jan

Now that the 2016 holiday shopping season is over (except for spending gift cards), a vital question to consider from both the customer’s and retailer’s perspective is: What kind of return policy best serves my needs? For many consumers, the answer may be: an unlimited time frame to return a purchase. For many retailers, the answer may be: holding down costs as much as possible. In either case, the return policy is a key element of customer service.

These are some return practices disliked by consumers: [Note: Many good retailers do not follow these practices.]

  • An overly short time period to make a return for a full refund.
  • The amount of the refund for a gift item when the gift recipient does not have a receipt.
  • A discounted refund merely for opening the product’s box.
  • The time to process a refund for a return.
  • Items excluded from refunds, such as computer software.
  • The shipping fee to return a purchase made online.

 
Two of the acknowledged leaders are Amazon, whose return policy is easy to use and consumer friendly, and L.L. Bean, whose return policy has received various honors and awards.

As a prelude to a YouTube video about returns at L.L. Bean, Business Insider’s Sam Rega recently stated: Here’s what makes L.L.Bean’s ‘100% satisfaction guarantee’ the best return policy of any retailer.”
 

 

THREE Infographics to Help Improve Customer Satisfaction

1 Sep

As we know well, the minimum requirement for consumer loyalty is customer satisfaction, a concept that needs to be thoroughly understood and sought by companies.

Recently, Salesforce developed the three infographics shown below on customer satisfaction and how to improve it As reported by Ritika Puri:

“Customer satisfaction is one of the toughest, most abstract concepts to capture and measure. Satisfaction is often in the eye of the beholder, and if you’re using a tool like a survey, you’re relying on self-reported data that presents only one side of the story. In addition, “success” is multi-faceted: A customer may be happy overall, but there may be some hidden deal-breakers that are hurting your retention metrics. So how do you tackle this challenge and improve your customer satisfaction scores?  Measure success from a few different dimensions. In addition to understanding why your customers are happy, you should focus on specific elements that contribute to overall success.”

 


 

Videos on How to Map the Customer Loyalty Cycle

25 Apr

American Express Merchant Services has developed two videos on mapping customer loyalty. These videos are mostly oriented to small businesses and fall under the American Express OPEN banner, which is the small business division of American Express.

Besides the videos below, American Express offers an extensive FREE Knowledge Center.

 
The first video is Mapping the Customer Loyalty Cycle Pt. 1: Identifying Your Customer Types: “Your customers may fall into different loyalty categories: ambassadors, loyal, frequent, and win back. This video assesses the different loyalty types and explains how you can identify which of your customers fall into each category.”

 
The second video is Mapping the Customer Loyalty Cycle Pt. 2: Optimizing Your Customer Types: Customers fall into different categories: advocates, loyal, frequent, infrequent and win back. This video will explain how best to communicate and connect with these customers and help drive sales.”

 

Getting Loyal Customers and Turning Them into Advocates

7 Mar

All companies are after loyal customers — those who keep coming back to visit with the firms and regularly repurchase from them. It’s a tough competitive battle to capture and retain such customers.

But, even more valuable than loyal customers (and harder to achieve) are loyal customers who also serve as brand advocates or evangelists. THESE people not only keep on buying from a specific firm; they also recommend their favorites to others — sometimes, as with social media, to many others.
 
Take a look at this infographic from Spendsetter (published by Retail TouchPoints).


 

Better Understanding the Mind of the Multichannel Shopper

4 Nov

Each year, the number of consumers who shop at multiple formats — including both off-line and online — increases.

To better understand these shoppers, MasterCard recently published: The Retail CMO’s Guide to the Omnishopper — “What transaction data and consumer insights say about the attitudes and behaviors of tomorrow’s global customers.”

Consider this from MasterCard:

“The days of mono-channel and the un-digital shopper are over. Today’s consumer is coming at merchants from all angles, as she considers an accelerating set of content, payment methods, and offers. Retailers and manufacturers alike must cease to market to an exclusive channel. Their focus must not be on channel, but on the master of multiple channels. Retailers must market to tomorrow’s customer: the omnishopper. The retail CMO who does so intelligently will know where to place the next bet. Because the consumer is already one step ahead.”

Click the image to access the full MasterCard report.

 

Mary Pacifico-Valley: A Great Career in Auto Marketing

15 Jul

Mary Pacifico-Valley is the owner of Denver-based Rickenbaugh Automotive Group. Pacifico-Valley worked her way up the ranks to her present position, and her company is hugely successful:

“Rickenbaugh Cadillac Volvo in Denver, CO and Infiniti in Dacono treats the needs of each individual customer with paramount concern. We know that you have high expectations, and as a car dealer we enjoy the challenge of meeting and exceeding those standards each and every time. Allow us to demonstrate our commitment to excellence! Our experienced sales staff is eager to share its knowledge and enthusiasm with you. We encourage you to browse our online inventory, schedule a test drive and investigate financing options. You can also request more information about a vehicle using our online form.”

 
Here is a motivating video on Pacifico-Valley’s career and her business philosophy.

 

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