SWOT Team: Effective Customer Retention Programs
It's true: a good marriage requires a certain measure of give and take. But it also thrives on healthy doses of partner appreciation.
That's true of business relationships, too. In fact, fostering loyalty is critical with customers who have nothing to lose by jumping ship. After all, 80% of your business comes from 20% of your customers. You want to do all you can to keep that 20% happy. So how do you retain customers and keep them happy? What kinds of loyalty programs are most effective?
Already appreciative of customers in your professional life? Maybe, instead, you have a problem child in the form of a project or employee. Get advice from 100,000 "MarketingProfs Today" readers who have been there . Submit your dilemma and receive a complimentary copy of our book, A Marketer's Guide to e-Newsletter Publishing.
This Week's Dilemma
What loyalty programs keep a marriage happy?
I know the importance of telling customers how important they are to a company. Our company has gotten to the point where we have been in business for a while and have enough customers to implement a loyalty program. What loyalty programs are effective, especially ones that can address local and international customers?
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Hank Stroll (Hank@InternetVIZ.com) is publisher at InternetVIZ, a custom publisher of 24 B2B e-newsletters reaching 490,000 business executives.
