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Add You - Customer Stickiness: A Marketing Conspiracy or a Sensible Marketing Strategy?
In the past few weeks we’ve seen a number of clients express concern regarding the value of Enrollment Management Consulting prior to initiating a Direct Response Enrollment Marketing campaign.On the one hand, it makes sense why schools that are used to buying education leads would not be interested in contracting a consultant: what’s the point? This attitude has arisen—I think—because for the most part, schools don’t see how consultant work can be applied to generating college applications or education lead generation.What these schools may not know, is that
The main assumption behind customer stickiness is that if a customer is highly involved with your company, he will be unwilling to go through the paperwork needed to switch (for example.) This is just an assumption and might only be true if the product is difficult to move away from. In today's environment, custom
In the world of franchising it is imperative to have a cohesive marketing plan throughout all regions and all franchised outlets. Without a comprehensive and cohesive marketing plan, with each franchisee doing their own thing the overall message to the consumer can become so diluted that synergies which are of supreme benefit to franchise systems are lost. It behooves all members of a franchise company to support a main message and participate in all marketing, advertising and promotion.To prevent these issues from hurting my franchise company, by established in th
It's loyalty stupid
Customer stickiness is simply customer retention or customer loyalty depending which terminology you prefer. After all, it is a marketing adage that it is more expensive to look for a new customer than to retain an existing one. It is therefore worthwhile to enhance the depth and quality of your products or services to ensure that customers stay with you and profit from a lifetime of mutually beneficial exchanges. An endeavour that many businesses have started focus on.
Unfortunately, increasing the number of offerings to your customers or even the quality of your service does not always mean they will buy more and remain loyal. Customers are bombarded with choices and not always looking for new product or services. They sometime want the same product or service but in a way that is convenient to them, faster to get or simpler to order.
The main assumption behind customer stickiness is that if a customer is highly involved with your company, he will be unwilling to go through the paperwork needed to switch (for example.) This is just an assumption and might only be true if the product is difficult to move away from. In today's environment, custom
There are many valid reasons for wanting to check out the background of someone you know. If you are an employer looking to hire a new employee, it is important to know their background for several reasons. If they will be driving a company vehicle, its important to know that their driving record is acceptable. Your companies insurance premiums will skyrocket if it is not. You will also want to know their criminal history, especially if they will be handling money or accounting jobs. It is also a good idea to know if a prospective employee has a history of assault charges,
It's loyalty stupid
Customer stickiness is simply customer retention or customer loyalty depending which terminology you prefer. After all, it is a marketing adage that it is more expensive to look for a new customer than to retain an existing one. It is therefore worthwhile to enhance the depth and quality of your products or services to ensure that customers stay with you and profit from a lifetime of mutually beneficial exchanges. An endeavour that many businesses have started focus on.
Unfortunately, increasing the number of offerings to your customers or even the quality of your service does not always mean they will buy more and remain loyal. Customers are bombarded with choices and not always looking for new product or services. They sometime want the same product or service but in a way that is convenient to them, faster to get or simpler to order.
The main assumption behind customer stickiness is that if a customer is highly involved with your company, he will be unwilling to go through the paperwork needed to switch (for example.) This is just an assumption and might only be true if the product is difficult to move away from. In today's environment, custom
Medical billing industry has volumes of arcane terminology and payer- and time-dependent claim validity and pricing interpretation rules, facilitating massive payments of invalid or ineligible claims and denials of error-free claims. Process transparency provides its participants greater visibility of internal process activities. An increased level of access promotes teamwork, increases client satisfaction, and assists in process streamlining.Billing process is the interaction between the participants (i.e., insurance company (payer), healthcare service provider (p
Unfortunately, increasing the number of offerings to your customers or even the quality of your service does not always mean they will buy more and remain loyal. Customers are bombarded with choices and not always looking for new product or services. They sometime want the same product or service but in a way that is convenient to them, faster to get or simpler to order.
The main assumption behind customer stickiness is that if a customer is highly involved with your company, he will be unwilling to go through the paperwork needed to switch (for example.) This is just an assumption and might only be true if the product is difficult to move away from. In today's environment, custom
The word “stagnant” conjures unpleasant images, but it’s the best word for some of the situations I see in churches. No movement, no progress, just sitting and letting things grow from minor problem to major infestation.The best advice that I could give when I see a stagnant church is to look at your Board. Whether you have a Board of Directors, a Board of Trustees, or a Board of Deacons, they are almost always the behind the lack of spirit in this natural situation. If you church is not a moving, dynamic, example of the Holy Spirit, you have to shake up your Boar
The main assumption behind customer stickiness is that if a customer is highly involved with your company, he will be unwilling to go through the paperwork needed to switch (for example.) This is just an assumption and might only be true if the product is difficult to move away from. In today's environment, custom
Many franchise agreements these days have five year franchise terms, which go through to an automatic renewal period and then they go for another five years. In the past many franchise agreements were 10 to 15 to 20 years. Today business moves too fast and things change too much for a 20 year franchise agreement.The five-year plan is nothing new. Many governments also have five-year plans which are updated every five years. India for instance has a five-year plan and they have five-year plans for many different sectors of their economy which all work together. One
The main assumption behind customer stickiness is that if a customer is highly involved with your company, he will be unwilling to go through the paperwork needed to switch (for example.) This is just an assumption and might only be true if the product is difficult to move away from. In today's environment, customers are more sophisticated than ever and they vote with their feet. If the service they receive from you is not up to their standard (not yours,) they'll take the time to move on. If your product is perceived as undifferentiated or easy to eliminate, then a customer's loyalty will be as deep as the time it takes him to buy from your competition.
To ensure that customer keeps on investing in your products or services you need to know what matters to them. It could be as simple as asking them, they might tell you. But when was the last you sat down with your customer? Talk to them and they'll come-up with new ideas that your best marketers would have never have considered. It all boils down to establishing a relationship on their own terms.
To add to the complexity of customer relationships, the correlation between stickiness and profitability is still not clear.
A "loyal" customer could drain your resources without you knowing. If you try to sell him more products, you might increase your marketing expenses without making a profit. Hence, to ensure profitability, you need to know what each customer is worth and this brings us into the realm of conversational marketing and analytics.
Conversational Marketing
Establishing a conversation
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