![]() ![]() ![]() This paper discusses tools and techniques that can be used to create a practical process that focuses on improving the financial results from all customer groups through: Unfortunately, most companies lack an integrated approach to both attract and retain profitable new customers and maximize revenue and profitability from existing ones. Successful development of a growing and profitable customer base is a critical requirement for business survival in a highly competitive and economically challenging market environment. Seven Steps to Grow Your Customer Base and Your Customer Revenue #Expanding client base how toGrow is the third in a series of four papers that will discuss how to get the best business results from each stage of the customer lifecycle. This also makes it possible to optimize both service delivery and service profitability by delivering neither more nor less than what will be experienced as superior service by customers in a particular segment. This makes it possible to develop service delivery standards for each function based on meeting and exceeding the needs of each segment. Consequently, it is useful to segment the customer base and identify the unique requirements of various purchasers at each touch point. In that paper we define a service process based on the fact that not all customers have the same expectations and criteria for superior service delivery. We also discuss whether the targeted customers you have secured will remain satisfied and loyal or whether they will leave due to dissatisfaction with the products or services you are providing. Serve, our second paper, discusses approaches to identify how well you satisfy customer needs with service that meets or exceeds their expectations. With that information an organization can develop a targeted customer acquisition and retention strategy and up-selling programs as well as leverage the desired communications channels in order to improve lifetime value. The first paper in this Acquire, Serve, Grow, and Retain series, examines factors driving customer acquisition and outlines a systematic process to attract and build a profitable customer base. This creates the opportunity to identify and measure competitive performance requirements and metrics for both a particular stage and its relationship to the entire lifecycle. This paper discusses tools and techniques that can be used to create a practical process that focuses on improving the financial results from all customer groups.Įach Lifecycle Stage Offers New Opportunities Each stage in the customer lifecycle-acquisition, service, growth, retention-has its own unique customer needs, attitudes and behaviors. ![]()
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