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Category Archives: Customer Relationship Management
What Are the Benefits of Developing a Brand Model?
Brand models are not a necessary part of conducting brand research, but they’re an important one. They provide an over-arching structure that plays a role in every aspect of your branding efforts. Before your company decides to engage in brand research, consider developing a brand model to give that research a greater level of direction and focus. Read more…
Ideas for Low Cost Ethnography
. Ethnography is profoundly interesting, and one of the purest forms of data collection. One might even argue that ethnography is something that everyone – companies and individuals alike – engage in every day, watching how people interact with their environment and allowing it to improve decision making. Read more…
The Value of Improving Customer Retention
Focusing on new customers is important. But focusing on customer retention is potentially more so, especially if you’ve already developed as a company. If you have limited research dollars, make sure you’re allocating them to retention research and not simply focusing on analyzing your market. Read more…
Is It True That Customers Cost More To Attract Than to Retain? Part 2
Essentially, the idea is that customer profitability is more important than anything. Retention isn’t necessarily more valuable or more important than customer attraction. A great deal of it depends on what industry you’re in, how you price your products, and which customers are coming back. Certainly any company that operates at a loss for any of its recurring customers could be losing more money on retaining customers than attracting them. Read more…
Is It True That Customers Cost More To Attract Than to Retain? Part 1
One of the most common beliefs in modern marketing – and one that we often echo on this site, for reasons we’ll get to shortly – are that customer acquisition (through marketing, sales, finding leads, and more) costs more than customer retention. It’s a belief that’s existed for years, and one that, when looked at with a skeptics eye, may not actually be true. Read more…
5 Myths About Customer Retention
Customer retention is an underrated aspect of maintaining a successful business. All companies understand that losing a customer is bad for business, but not every company realizes that a returning customer is 2 to 5 times as valuable as a new customer. If you want to maintain your business, you need your customers to keep coming back. Read more…
How to Develop a Customer Retention Strategy Part 2
It’s always important to attract more customers. But once you’ve attracted those customers, you need to keep them within the company. It’s considerably better for your revenue (potentially more valuable than finding a new customer) and makes good business sense.Always remember to consult your customers to see what’s causing them to leave and what they need to remain with your company. Only then will you really be able to create a retention strategy that works. Sign up with Survey Methods to get started. Read more…
How to Develop a Customer Retention Strategy Part 1
Customer retention may be the most important part of a successful business. Companies spend a great deal of money trying to attract just a single customer, and the longer that customer stays with your company the more that investment will continue to pay off over time. Read more…
Are You Getting Feedback When You Need It Part 2 – Follow Up
There’s a valid reason to wait to send a survey about the results of a customer service inquiry. For example, perhaps the answer the company provided needs a few days before it’s known whether the answer is a success. Or perhaps the company already sends too many emails and waiting ensures that the company doesn’t seem like it’s spamming the customer. Read more…
Yahoo’s Goal of Getting Customer Feedback
While surveys represent the best form of feedback, they are certainly not the only form. Comment boxes, customer help lines, one on one interview – all of these provide a medium to receive customer feedback, and all of these mediums are useful in their own way. Read more…
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