6 Ways to Improve Loyalty and Retention to Accelerate Sales

6 Ways to Improve Loyalty and Retention to Accelerate Sales

There has been a lot written recently about the decline in loyalty and the increase in price sensitivity among customers. Ultimately, if a customer doesn't have an emotional connection to a product or service provider, there will not be any loyalty -- regardless of how many points the customer has accrued. Here are six ways companies can improve c...

Tom Smith

Tom Smith

Positive Customer Experiences Accelerate Sales

Great study from Forrester Research entitled, "The Business Impact of Customer Experience, 2013." In the study, Forrester finds a strong positive correlation between consumers' ratings of a firm in their Customer Experience Index and consumers' willingness to buy from the company again (0.71), as well as the likelihood to recommend that company (0...

Tom Smith

Tom Smith

Insights Reduce Churn, Accelerate Sales, in Telecommunications

Amdocs just completed a study with Informa Telecom and Media that highlights the importance of customer retention and loyalty programs. Sixty-six percent of operators believe customers are less loyal today than they were two years ago and 70 percent of service providers cite customer retention and loyalty as the critical factor for driving growth w...

Tom Smith

Tom Smith

8 Reasons to Create a Customer Bonding Program

I have developed and implemented numerous customer, and prospect, bonding programs for clients, channel partners and employers over the course of my career. The objective of the programs is to enhance the company's relationship with its customer or prospects, after the saleis made, since any successful business' most valuable asset is its current c...

Tom Smith

Tom Smith

Say "Thank You" to Customer Complaints

The Corporate Executive Board Financial Services Practice Operations Council released a study which found that 90% of financial services customers do not complain when they have an unsatisfactory experience. Perhaps this is why four banks and two insurance companies account for six of the top 10 providers of poor customer service (http://wp.me/pYHt...

Tom Smith

Tom Smith

Use Data to Provide an Outstanding Customer Experience

I was recently booked on a Delta flight from RDU through ATL to Cedar Rapids for an interview. My flight from RDU to ATL developed some unidentified problem while waiting to take off and had to go back to the gate. The pilot could not give us an idea of how long it would take to address the problem but it was clear to me that I would not make my ...

Tom Smith

Tom Smith

A Corporate Culture of Customer Loyalty

While it’s a noble notion to devote a month to customer loyalty, it should not be viewed as a point-in-time event. Similarly, when many people think of customer loyalty, their first reaction is to envision the department that manages the organization’s customer loyalty initiatives. Customer loyalty should also not be viewed as simply a departme...

Tom Smith

Tom Smith

8 Steps to Earn Customer Loyalty

Customers are becoming more demanding, better informed and increasingly empowered. Traditional marketing is no longer working, and customers want richer and more relevant dialogues with the companies they deal with. They want their preferences to be respected and their loyalty to be rewarded. Under these conditions, so-called "pray and spray" commu...

Tom Smith

Tom Smith

Earn Customers for Life By Using Consumer Insights from Data

My best friend and I have been shopping at the same grocery chain, in different cities, for years. We're both members of their loyalty program. My friend receives a weekly e-mail of "personalized" specials. I just get a tape of coupons when I check out. After sharing my philosophy about the investment companies are making in analytics at the exp...

Tom Smith

Tom Smith

5 Tools to Use to Get More Customers For Life

Customers For Life is a very powerful philosophy. It puts customers at the forefront of your company and your strategic plans. It makes a lot of sense to do so since you won't have any revenue without any customers. A Customers For Life philosophy does not mean you will end up serving all of your customers for their entire life or the life of your ...

Tom Smith

Tom Smith