Post on 20-Aug-2015
Copyright © 2013 Ektron, Inc.
where a person buys products from the
same manufacturer or Supplier repeatedly rather than from other suppliers
Copyright © 2013 Ektron, Inc.
Here’s why we should care
• “It costs 5 to 10x more to attract a new customer than to keep an existing one.” - The Council on Financial Competition
• “60% to 80% of defecting customers describe themselves as “satisfied” or “very satisfied” just before they leave.” - Business Week
• “70% of the reason customers leave a company has nothing to do with the product.” - Forum Corporation
Copyright © 2013 Ektron, Inc.
Companies are losing customers
at a staggering rate without really hearing from most of them…
• “Each year the average company loses 10-15% of its customer base.” – Bain & Company
• “84% of customers who leave, do so because of poor service.” – Forum Corp
• “A typical business only hears from 4% of its dissatisfied customers—the other 96% leave, 91% for good.” – Jim Barnes, “Secrets of CRM”
Copyright © 2013 Ektron, Inc.
2013……
More information about your customers
than ever but you are less likely to ever
meet them.
Copyright © 2013 Ektron, Inc.
Help!
Digital provides many opportunities to improve customer loyalty.
• Target
• Test
• Instant feedback
• Respond
• Be Agile
• Give customers a voice
• Customer Self Service
• Build Advocacy