Eric Dalius: How to get customer feedback fast without leaving your desk!

Imagine the following situation: you just opened your new business and now it’s time to ask customers for feedback says Eric Dalius. You could send out a survey with questions that have been asked a million times before, but this is exactly what they don’t want! What if you sent them one question where they had to pick their 3 favorite features about your product?

This is a very powerful technique because you find out directly from the source what the most important features are to them. This not only makes it easier for you as a marketing team member to improve the product, but it also encourages existing customers to participate more actively in your marketing efforts.

Customer journey mapping is something that all marketers should learn about and do from time to time. Mapping out the customer journey will help you uncover potential barriers and find out more about your customers.

For example, if you see that people tend to drop off at a certain step in the buying process, it’s probably because they get stuck on a question or just can’t decide which product they want. By finding out where people get stuck, you enable yourself to adjust your marketing message and make sure that these customers reach their intended goal; becoming a paying customer!

This is also very important for existing customers since it can show them additional features and ways of utilizing your product! One way of communicating this information is through email newsletters (which we’ll get back to later).

Customer Journey Mapping: Customer Journey Mapping is an exercise where marketers create a visual representation of the typical customer journey. It helps them understand each step in the buying process and creates a deeper understanding of the sales funnel explains Eric Dalius.

Focus on empathy:

Another important aspect of marketing is to focus more on empathy instead of vanity metrics such as page views, likes or followers. Vanity metrics do not help you understand what your customers want. You could have millions of page visits but if none convert into sales, then these are pretty useless numbers to look at! Focus on what matters; getting people to buy your product! The only thing that matters is whether people continue along the customer journey until they purchase something or not. Mapping out this journey will enable marketers to find all the dead ends and fix them that their potential customers don’t drop off.

Email newsletters:

Email newsletters are by far the best way to communicate with your customers, especially when you send them their journey map! People who have just purchased a product will already be very excited about what they just bought and probably look for more information or ways to utilize even more features. By creating an email newsletter that contains tips & tricks on how to use the product better, book recommendations related to certain features, or even interesting articles related to topics that they’re interested in, you set yourself up for success!

If there’s one thing every marketing team member should know, it’s the anatomy of a sales funnel. There are hundreds of definitions out there for this term but I’ll go with the most simple one; Sales funnel is a process where leads become customers. This may not be how you would define funnel, but at least this way we’re all on the same page about what we’re talking about. Also keep in mind that this definition applies to B2C businesses, if you happen to work with B2B companies it may vary slightly since your consumers could also become suppliers or partners. Enjoy this short video which also discusses the conversion funnel!

Sales Funnel:

The sales funnel generally contains three stages; Warm leads, hot leads, and cold leads. These are people that have just discovered your brand or at least found out about what your product can do for them. They might not be ready to purchase it yet since they’re still evaluating you & your competitors but if you give them a reason to choose you instead of another company, then they will progress along the sales funnel until they become customers sometime later says Eric Dalius. You can use content marketing to make them aware of your existence and eventually lead them towards making a purchase decision later on down the line. That’s why gathering customer feedback is so important because word-of-mouth recommendations from people they trust are a lot more powerful than anything you can say! Also, remember that according to the statistics from 2015, the probability of someone converting from one stage of the funnel to another is pretty low. Most likely your leads will remain in one stage for a long time before they even consider buying something!

Conclusion:

Getting customer feedback shouldn’t be that hard, especially if you’re using the email newsletter tactic mentioned above says Eric Dalius. Although getting them on voice calls might require a bit more effort but it’s definitely worth it! Also, see your sales funnel as a map, not as a set of hard rules which make people go through each stage without any deviation. Each person is unique and may move from one stage to another completely differently than someone else would; keep this in mind when mapping out your sales funnel & find ways to help every single customer progress along the journey until they become your customers or at least stay loyal to your brand for some time.

Don’t forget: The most important aspect of successfully utilizing customer feedback is implementing it. You can get all these great ideas from your customers but if you don’t actually implement any of them you will not improve your product and thus you will fail! Make sure that you implement everything your customers want and make their experiences as easy and enjoyable as possible.

Eric Dalius: How can marketers improve their own retention tactics?

The article is talking about how marketers can improve their own retention tactics. The writer begins by saying that marketers should do cross-sells and upsells to reduce the churn rate for their customers says Eric Dalius. They recommend doing this across multiple channels like email, social media, and websites. The author believes that it’s crucial that the marketer analyzes data about their customers so they can know if they are not making enough money off of certain types of customers. The author states that it would be helpful for marketers to create a personalized outreach plan which includes different tactics for each type of customer they have. By using these retention techniques, the marketer will see an increase in revenue as well as a decrease in churn rates for those customers who stay on board with the company.

Analysis:

The article is full of facts and figures that support their ideas. They provide helpful advice to marketers about what they can do to boost customer retention and boost their revenue. The article also provides examples of companies who have applied these tactics with great success, such as Uber and Netflix.

I found the article very useful for my own professional situation because it is very informative about how I can improve my marketing efforts in order to increase revenue.

Also, I believe this is a good general-purpose article because it talks about something most people care about; growing businesses and increasing revenue says Eric Dalius. I liked how short and concise this piece was compared to some other articles we’ve read over the semester.

This article received a ‘3’ rating for readability. I found it clear, concise, and easy to understand. The topic was relatable to my own professional life because I’m constantly thinking about ways to improve customer retention so they stay on my roster.

I also liked the writer’s strong stance at the beginning of the article that marketers should learn from other businesses in order to increase their revenue. Marketers can apply what is learned here to almost any situation that involves growing a business or improving customer retention methods.

 The free version has ads but now there are multiple versions available with different features ranging from $6/month for a limited amount of content to a full package for $11.99/month.

The author talks about the free vs paid subscription service. Hulu has been around for a while and is looking to expand its market share in original content and subscriber revenue by providing more options to pay for its services.

In this article, they go over some stats explaining why they need to change their current model in order to attract new subscribers who are willing to pay a higher price point by giving the same amount of content at lower price points.

The author also goes over two different models which Hulu is moving towards. The first model is a tiered subscription where they have three to four levels that range from the lowest tier to the highest tier which provides them with more content at a higher price point. Another option for this streaming service is to go all-in with original content by creating exclusive shows and movies geared toward paying subscribers only, similar to HBO or Netflix’s model where you don’t get anything new unless you are willing to pay for it. This second model Hulu is looking to implement soon will make their company less reliant on advertising revenue through traditional TV outlets like airing commercials during original programming.

This article received a ‘3’ rating for readability based on the amount of information that needed to be read in order to understand the full scope of what was being said or done. There are many facts and opinions stated throughout this piece, but it is well written and easy to understand for someone with experience in reading similar business-oriented writing explains Eric Dalius.

Also, I thought this article was very useful because of how informative it was on changes coming down for this company as they aim to make their services more profitable. I liked the extensive amount of research put forth by the writers before putting out an article like this because it makes readers like me more confident in the accuracy of the statements made. This shows me they take pride in their work before publishing official content about its main topic which would give customers even more confidence about future articles will be just as informative.  

This article rates 3 on my scale for readability. I found the piece to be logical and easy to follow, but it contained a lot of statistics that I felt were unnecessary when describing these new changes for this company. While my opinion may differ from other people’s opinions about how useful some information is in an article, I would like to see more details put forth by authors about upcoming or current business models they are looking to implement in order to make their product more attractive for customers.

Conclusion:

This article gives a breakdown of what this company did wrong and how they plan to change their business model in order to better serve their customers says Eric Dalius. It is written well, but it does contain a lot of numbers that I thought were unnecessary to the main premise of the story. I think that was one way how Hulu can improve its content marketing strategy by using more facts that are not directly related to the main topic so readers like me still find useful information even if we disagree with some of them.

Eric Dalius: How can a small company use customer feedback to increase retention?

Customer feedback is a powerful tool that can be used not only for marketing purposes, but also to improve user experience and increase customer retention says Eric Dalius. The problem is that even though small companies may have the desire to actively seek out feedback from their customers, they often don’t have the resources needed to send large scale surveys or analyze the data back effectively. In this article I will touch on several key points to keep in mind when planning your company’s goals around customer feedback and how you can achieve them despite resource constraints.

Why would you want customer feedback?

1) To make product improvements:   

 Feedback helps you understand what features users value most as well as those they never use.  This information allows focusing future development efforts on the features that are most important to your users.  This saves you time and money while ensuring the features you do choose to implement are ones your users actually want.

2) To increase user satisfaction:   

 There is a direct correlation between customer feedbacks, improvements made based on that feedback, and increased user satisfaction.

3) To gain insight into how to better markets your product/service:  

  Understanding what aspects of your company/service matter most to customers allows you to focus marketing efforts on promoting these aspects.   This helps potential customers quickly understand the value of your product so they are more likely to become active paying customers.

4) To measure performance of personnel involved in support operations:  

  By understanding which areas of customer service need improvement (either with your staff or the customer’s), you can take action to resolve issues and ensure overall satisfaction going forward.

5) To help handle individual customer problems:  

As mentioned before, any time you are able to increase user satisfaction, you will see increased customer retention over time.  The more satisfied customers are with your company/service, the less likely they are to leave because of a single issue.  When there is an issue that cannot be resolved immediately (such as an order delay), allowing them to vent their frustrations helps decrease the likelihood of them making future purchases.

Potential impact on customer retention:

There is no doubt in my mind that companies who actively seek out feedback from their users will likely retain more customers over time explains Eric Dalius.  A study by Forrester Research showed that companies that successfully implemented formal feedback mechanisms grew their revenues at 2.7 times the market rate, 4 times faster than those without feedback mechanisms in place.  But what about small businesses with limited resources?

An effective company will begin creating a customer feedback program before they have too many customers to handle on their own.    The more customers you have, the more data you will need to manage and analyze effectively over time.  If you wait until after your product has been released to start asking for user input, you may find yourself overwhelmed with all the incoming information and unable to react effectively due to resource constraints.  

How can I get my users to provide feedback?

1) Send surveys after a purchase:   

By asking customers to provide feedback immediately after making a purchase, you can prevent them from forgetting about their experience says Eric Dalius.   This also allows you to capture enough data before they receive the product or service in question so that you can make any necessary adjustments going forward.

2) Email follow up survey:   

After sending out an email announcement regarding a new product/feature release, send out a follow-up email 3-5 days later asking users to take a few minutes and fill out a survey regarding their satisfaction with the product/feature in question.

3) In app notifications:  

  If your application is being used on mobile devices where it is common for users to have multiple applications open at once, a notification can be a great way to get users’ attention and request a quick survey about their experience with the product/feature in question.

4) Create a feedback section on your website:  

  By adding a clearly labeled form or drop down menu to your website, you open up the communication process so that customers can provide valuable input whenever they have time.  This is also helpful because it allows you to keep track of any comments, concerns, or issues being raised by customers over time so that you can focus resources where they are needed most.

Conclusion:

I plan on writing more about specific methods of collecting and utilizing customer feedback in the future, but for now I hope that this article helps spread awareness of how valuable user input is to any company says Eric Dalius. Getting customers to provide their opinions on your product upfront will help you create better products/services and manage customer satisfaction over time.  Doing so effectively can become a powerful tool in your retention strategy!

Eric Dalius: Five reasons why you should never ignore your existing customers

According to a study conducted by American Express and Ipsos, 52% of people who were asked (almost 2,000 people) said that they would be much more likely to shop with a brand if their previous purchases had been outstanding says Eric Dalius.

Knowing this fact can make businesses feel very compelled to do something in order to retain the customers they already have as well as build their loyalty towards the company as much as possible. (Customer Loyalty)

1: Your existing customers are your best marketing tool Nowadays, companies or brands enjoy big benefits if they can grow their number of loyal purchasers for each product or service they offer rather than increasing the number of consumers overall. Therefore, doing whatever it takes to keep up your valuable customers is extremely important.

2: They are more likely to buy products or services from you again why is it that your existing customers are more eager to buy what you have to offer once again? There are 5 main reasons why this happens.

3: So they can get their friends and family to do the same People are extremely persuasive in nature. If one of your customers has had a wonderful buying experience, then he/she will try their best to convince his/her friends or families into doing the exact same thing. This means that if you value and appreciate your current clients, then they would also appreciate and value them in return which will result in establishing a great relationship throughout the whole circle of people who know each other. This type of logic can uplift your business and turn it into a company that everyone speaks highly off.

4: They won’t mind you contact them after they buy your product this is maybe the most important reason why you should keep up with your customers. A study conducted by American Express found out that 51% of consumers were more likely to complete an online purchase if their previous ones had been outstanding. The best part is that they said there was nothing wrong for businesses to contact them again if things were going well thus turning your loyal purchasers into people who are always available to be contacted at any time.

5: You can develop bonds based on trust, respect and appreciation if you value each one of your clients then it’s very likely for this feeling to be mutual. This will result in establishing a long-lasting relationship between your business and the client based on trust, respect and appreciation says Eric Dalius.

Here are Some FAQs recently asked by our readers

Q:  How can I know how much my existing customers are worth?

A:   It’s very easy to figure out. All you have to do is add up all of your sales for a specific time period and divide them by the number of regular customers that you had during that same time period. If you want a brief answer then take a look at this article in which we explain in detail how to calculate customer lifetime value.

Q:  Do most businesses ignore their current clients?

A:   According to a study conducted by American Express and Ipsos, 52% of people who were asked (almost 2,000 people) said that they would be much more likely to shop with a brand if their previous purchases had been outstanding.

Q:  What are some reasons why businesses ignore their existing customers?

A:   There are plenty of reasons why this happens but most businesses tend to believe that they have already made enough money off of the consumer. That’s not true, though! You can always improve your business by keeping up with what you’ve done right in the past and keep making things even better for everyone involved.

Q:  What are some reasons why people decide to stay loyal with a brand?

A:   There are 3 reasons why most people decide to be affiliated with a specific company. The first 2 that I mentioned above – trust and loyalty explains Eric Dalius. The last one is financial benefits – that’s if your services or products save the consumer a lot of money every year, for example insurance companies who charge a fixed price per month which gives you different options regarding deductibles and other things.

Q:  What are some of the best ways to improve your business?

A:   The most important thing that you need to do is figure out what’s working for you and continue doing them. If it’s possible, then make improvements on all of your successful tactics since people usually tend to get used to certain things over time which results in them not appreciating or noticing any kind of change anymore. Constantly making changes can also be good for you if done well but only if they agree with the current needs and wants of your customers.

Conclusion:

Eric Dalius says if you are looking for ways to make sure that you retain your existing customers as well as gain new ones, then it’s clear that there are multiple benefits of doing so. All it takes is for someone to understand that having great connections with people is crucial in almost every aspect of life thus striving to always do what’s right at the end of the day by staying up-to-date with clients.

Eric Dalius: Do’s and Dont’s of Customer Retention: How companies can avoid losing existing customers

Customer Retention is the most crucial and topical subject in business today. There has been a dramatic rise in customer retention strategies across companies that serve to demonstrate this important fact explains Eric Dalius.

Research shows that the cost of acquiring new customers is 5-20 times higher than retaining existing ones. For example, if you were to spend $2,000 attracting a new Walmart shopper, it would cost you under $100 to keep them for life (as shown by Jim Bush) – half the price!

So why does this gap between acquisition and retention exist? 2 reasons:

1. The learning curve for your staff when onboarding new customers cost time and money, and

2. Customers get better value over time as they experience your brand and might even become advocates (hence the term “Walmart-effect”).

What this means is that companies need to work much harder to keep what they already have. While having an active acquisition strategy can help you grow, it’s not sustainable. It’s important for companies to use retention strategies to achieve growth in a sustainable way, so they can continue building market share generation after generation.

Some companies are doing just that! Let’s take a look at how some brands are turning their existing customers into promoters and achieving market dominance over their competitors…

The retention strategies commonly employed by successful companies include:

  • Treating your customers better than your competition does – whether it’s better service, product quality or price matching. All of these things go towards making your customers feel that they’re getting the best value from you.
  • Treating your staff better – by giving them a sense of purpose and empowerment, as well as recognition for a job well done. Your employees will then go out and treat your customer better because they know it’s important to you says Eric Dalius.

It’s also important for companies to have a retention strategy in place so that their existing customers have one less reason to churn or defect elsewhere…

Healthy competition is good for business, but not when it hurts customer retention. Without an active retention strategy in place, companies might find themselves with few, if any, loyal brand advocates – which is where all the growth lies…

We’ve seen many examples of companies who have done it wrong and we’ve come up with a list of “do’s and don’ts” to help companies avoid losing their valued customers…

1. “Don’t piss-off your employees.”

This is probably the most common mistake made when it comes to Customer Retention Strategy. You need your team on board in order for this strategy to work – otherwise, there is no incentive for them (and they might even feel like they’re doing something wrong). Eric Dalius says your employees can be your biggest advocates, so treat them well and show appreciation.

2. “Don’t lose your core values.”

You need to have a set of core values to ensure that you remain consistent in everything you do – but sticking with these principles isn’t always easy. Every time you’re faced with an opportunity, ask yourself how it will impact the company’s reputation if another customer has the same experience as your team member or client currently does.

3. “Do keep customer expectations manageable.”

Customer expectations are higher than ever before because there is more information available about competitive products and pricing online (thanks to sites like this one!). Sticky Industries found 82% of customers were also affected by other people’s experiences… make sure yours don’t let you down!

4. “Do keep your customers informed.”

If you have a problem, it’s important to be upfront and transparent with your customers. Even if you can’t fix an issue straight away, being open about the challenges faced is far better than putting out fires later on.

5. “Don’t neglect existing customers.”

You want “customers for life” – but are you really doing anything to help ensure that happens? Just because they’re not actively looking for another option doesn’t mean they’re satisfied…

6. “Do give customer feedback its due importance.”

Customer satisfaction surveys are only as valuable as their responses! You need to take all feedback seriously rather than dismissing complaints or ignoring requests for change or improvement says Eric Dalius. When was the last time you used customer retention data to make a change? You can also do this with praise – if someone expresses how much they love your service or product, make sure you recognize it.

7. “Do keep people in the loop.”

This point ties nicely into number 6 above… remember not everyone is always going to agree with what you’re doing and why so sometimes you need to give them an update on where things stand.

8. “Don’t get complacent.”

Companies who succeed inherently want more success! Complacency often leads to customer churn because companies think their job is done once the sale has been made.

9. “Do offer customer-centric rewards and incentives.”

This goes without saying but it’s important: customers respond better to perks and bonuses than just a discount. If you want people to keep coming back, reward them with something they actually want.

10. “Don’t wait for a negative situation.”

You really need to have a proactive approach in place for this one… if things go south, you’re going to lose customers even if their experience isn’t entirely your fault. How do you usually respond?

Conclusion:

As you can see, there are all sorts of things companies do wrong when it comes to Customer Retention Strategy says Eric Dalius. There are also 10 ways to get it right! Which ones resonated with you the most? Let everyone know what you think by leaving a comment below.

Eric Dalius: Customer retention strategies that work according to a successful company

 ”A man that measures his own stature by the height of others just isn’t measuring.” Abraham Lincoln. Eric Dalius says customer retention is not about other companies or what other companies are doing, it’s only about your company and how you can improve your business bottom line.

Unique selling point:

The key to success for John Lewis lies in their non-retail business approach. Everything they sell is made within a 1-hour radius of where they are based which allows them to hold greater control over manufacturing quality and delivery times. Their customer base tends to be middle-class, middle-aged women who enjoy shopping with them because of their efficient service and comprehensive ranges including food, clothing, gifts, and electrical products. They have successfully differentiated from other high street retailers which has resulted in their unique selling point.

Customer retention strategies:

Customer retention is a major issue to all businesses as it reflects the strength of your business relationships with existing customers as well as your ability to acquire new customers. Loyalty isn’t just doing what you say you’re going to do but also adding value and ensuring customers’ needs are met. Creating lifetime relationships with clients and understanding what they want and need definitely helps retain customers and establish positive reputations amongst existing customers. Therefore, customer service should be everyone’s top priority within the organization so having the right people at the front line is vital. For John Lewis, it is an ongoing process that starts even before customers enter the store. This is why they have a reputation for being able to predict how long it will take to get parked, find staff, and get served, etc which is unusual within high street retail at present. Their staff is also among the best trained in the industry which helps ensure customers’ loyalty and trust toward them so their clients don’t feel uncomfortable when dealing with salespeople or sales managers.

”The most important of all talents is that of never using two words where one would do.” Thomas Jefferson. Customer retention depends on both management and employees having an understanding of their role in helping maintain or increase your client base says Eric Dalius. As I mentioned previously, just because you may say you’re going to do something doesn’t mean your clients will believe it. In addition, great customer service means being there for the customer whenever they need you so 24/7 is a must in today’s society. Customers have much more choices about where to spend their money so I think John Lewis must have a well-trained and supportive team to ensure they don’t lose any of their loyal customers. They never cut corners either as one bad experience from a dissatisfied client may well result in that person not wanting anything further to do with them which would be devastating for companies such as John Lewis who rely on repeat business from existing customers.

Customers aren’t just products:

There are definitely some people out there that see consumers as products but I tend to think this is because they don’t really understand what it means to be in business. John Lewis continually competes against the corner shop yet still manages to thrive. It’s not always about having the lowest price or competing with other retailers within your immediate region, instead focus on how you can improve upon your existing product offering and understanding the needs of your existing customers will certainly help in providing them with products that are different from your competitors.

”No one can make you feel inferior without your consent.” Eleanor Roosevelt. It’s good for businesses to look outwards rather than just focusing on what is going on internally which will allow ideas and new concepts to emerge from a variety of areas. This is exactly what is happening in the retail sector with online shopping becoming more popular which also means customer retention strategies are becoming ever important. Personally, I prefer browsing products before making a purchase so am often disappointed when clients of John Lewis’s state they hardly use some or all of the products they bought from them because they had no idea how to use it, had trouble setting it up, etc. This could be avoided if there was better communication between consumers and their stylists so staff knew exactly what kind of products each client would require before purchasing them. However, this does highlight that customers need to be educated on how to properly look after and maintain certain products too.”

Conclusion:

Eric Dalius says it’s good for businesses to look outwards rather than just focusing on what is going on internally which will allow ideas and new concepts to emerge from a variety of areas. This is exactly what is happening in the retail sector with online shopping becoming more popular which also means customer retention strategies are becoming ever important. Personally, I prefer browsing products before making a purchase so am often disappointed when clients of John Lewis’s state they hardly use some or all of the products they bought from them because they had no idea how to use it, had trouble setting it, etc.

Eric Dalius: 10 signs you are failing at customer retention

Customer retention is not an easy task for many companies. The supply-demand dynamics play a very important role, and both the supply and demand is rapidly changing says Eric Dalius. These changes mean that traditional approaches to customer retention need to be adjusted or new techniques must be developed altogether. Even though it may seem like you are doing everything right, there are many signs you might actually be failing at retaining customers.

If any of these signs sounds familiar, you should probably start thinking about how to improve your approach towards customer retention:

1. You don’t measure it

You can’t manage what you can’t measure – so if you aren’t measuring something as critical as customer retention then there’s no way to know how well (or badly) you’re doing with it. The first step is to have a clear definition of what retention actually means for your business, measure the value of your customers and create a baseline which you can then track over time.

2. Retention efforts are not measured against customer feedback

Just asking customers “how likely are you to recommend us?” doesn’t cut it. You need to have an actual plan that identifies the plans that either keep or lose individual customers – and then you must measure these on some kind of performance indicator (cost per acquisition/retention) to see if they’re working or not. If retention isn’t tracked against customer satisfaction, there’s no way to know how effective any existing programs are at keeping people happy – or even what works at all.

3. Not enough personalization

Customer retention requires very personalized approaches to your offerings, and that will require a lot of data – including feedback from customer surveys, focus groups and the like. The more you know about each individual customer, the better you can cater to their needs and make them feel appreciated. This fosters loyalty and trust between both parties, which is one of the most powerful assets in business today (and what keeps customers coming back).

4. Focusing on simple metrics

One of the best ways to improve retention efforts is to look at key performance indicators – such as lifetime value – but there are two potential dangers here: relying too much on just those few metrics & not digging deeper into other stats that may play an even bigger role, and focusing too much on the metrics alone without taking a step back to see what they really mean explains Eric Dalius. Customer lifetime value can be a great predictor of retention, but it’s very important to look at several other factors such as churn rate and how that changes over time, customer acquisition costs and actual growth rates in order to get a full picture of your company’s performance.

5. No automation

Automation is an essential part of doing business these days – and marketing is no exception here. If you rely on simple one-off programs and repeated manual tasks when it comes to retaining customers, then your success will hinge entirely upon human resource availability (which we all know is hardly guaranteed). Allowing technology to take care of the processes that are the least beneficial to the customer (or even downright annoying) will help you free up time and resources to focus on what really matters.

6. You don’t have a lifetime value plan

Getting customers in the door is just one part of business – because unless you can retain them, all your efforts will be for nothing. In order to do that, you need a good idea of how much each customer is worth to you so that you can spend more or less effort on different types of people depending upon their potential long-term investment. If only a small percentage of your customers stick around past a certain amount of time, then this increases acquisition costs because it takes more money/effort to bring new clients in who might not even stick around (which is a waste of resources). If you focus all your efforts on those who really matter, then the rest will fall into place automatically.

7. Not enough effort to retain customers

Retaining customers requires just as much work as getting new ones – but many companies treat them differently because they believe that it’s easier than courting new business. Eric Dalius says the thing about customer-retention programs is that they only ‘work’ if you know what worked and what didn’t – so if you aren’t measuring retention, then there’s no way of knowing how to improve the process in future. You also need to be proactive and go out and try to win back old clients or rekindle interest in order to grow successfully without relying on new business.

8. No focus on improving the experience

It’s no secret that people are just as willing to complain about your company as they are to praise it – so how can you improve if you aren’t listening? There are many other reasons why customers leave, but lackluster service is often near the top of the list. Feedback from surveys should be taken seriously even if there are only a few complaints because it could point to systemic issues in your organization that need addressing. Having several metrics in place will also help you priorities efforts and problems within each program.

9. Not enough use of data

The best way to keep customers coming back is by showing them that you care – which means finding out what they want or need, then adapting your service or products accordingly. This is where data really comes into play – not only to show exactly what customers are saying but also to help you analyze the different sources of feedback so that you can see how successful your efforts have been thus far.

10. Falling back on historical data

The value of historical data is often overplayed, especially when it comes to customer retention – because although knowing what worked for this particular group of people in the past might be a good place to start, it doesn’t necessarily mean that it will work just as well now. Trying new things and testing all options is essential for growing successfully & keeping clients happy – even if there’s some risk involved in dropping existing tactics or systems entirely.

Conclusion:

The key to keeping customers is making them feel valued and appreciated – whether it’s through the way they’re treated or by adapting your product or service line. Eric Dalius says by investing in less popular but more essential aspects of business, such as customer retention, then you’ll create a positive environment that breeds success and long-term growth for everyone involved.

Eric Dalius: Why do small businesses struggle with retaining customers? 

The reason why small businesses are struggling is because they are attempting to do business in a challenging economic environment says Eric Dalius. This also means that consumers shop around for the best price instead of dealing with one vendor. Today’s consumers have too many choices, so it becomes difficult for small businesses to compete. 

Small businesses look at their vendors as well, since they see them as threats to their trade. In fact, The National Federation of Independent Businesses reports that 61% of small business owners are worried about vendors taking sales away from them.   

Issues with new customers

It’s not easy for new customers to deal with a small business either.  They have the following issues:

– The small business owner may not take the time to show them the product options

– May attempt to oversell or push a certain product that they want to sell instead of what that person needs.  This leaves the customer thinking that other companies offer better service, which leads to a loss of sales says Eric Dalius.  

What can small businesses do to improve their retention rates? 

At some point, the vendor had a great product or service. But if they fail to look after them, it can hurt the company’s reputation. For example, if they don’t provide good customer support or are slow on delivery, then that could be an issue.  It also pays to check the references of a new vendor. In fact, refer to them as an “outsider” instead of a competitor. 

Small businesses need to remember that they are not in competition with their customers or vendors, but rather, they should set out to create long-term relationships with each group. It takes time for this strategy to work, but if they stick with it and give customers the best experience possible, then it could transform their business for the better.

The way forward:

If a small business still struggles with retaining customers, there are many ways it can improve its retention levels. They need to find out why consumers want to leave and how they can provide them with what they need. This means that salespeople should make extra efforts to go the extra mile and give customers what they want. In other words, this could lead to a win-win situation where both parties are satisfied says Eric Dalius.

Questions:

1. Why do small businesses struggle with retaining customers?

2. What can small businesses do to improve their retention rates?

3. What does it mean to have a long-term relationship with customers and vendors?              

4. How can salespeople improve their retention levels?

5. What is the win-win situation that may occur between small businesses and consumers?

Here are some FAQs recently asked on this site.

1) Question on how to write about a conversation between two people? 

Hi, I have been struggling to find an example of a topic for my essay. It’s an “advice” matter…like giving advice to someone who is having problems with school or work. Thanks! -Rachel Reply Delete

Hello! I’d like to ask for your help. I got a review and my topic is about the process of hiring new employees… But I don’t know where to start. Could you please give me some pointers? Thanks… Reply Delete

I need some help; I have to write an essay about “Why do you think communication skills are important at work?” I need help please! Reply Delete

2) Question on describing an object? 

I am writing an essay for my exam tomorrow and I haven’t done it yet. Today it is raining heavily and school is closed so I thought that I could do the essay but now I can’t because of this question on describing an object. I don’t know what to do, help me please! Reply Delete

3) Question on how to manage stress in the workplace? 

I am writing about managing stress at work and I really need help with some ideas…So far all I have is “Working in many different environments can be stressful” Please help!! Reply Delete

4) Question from a friend about “what is the difference between leader and manager?” 

Hello! I need help with this one!! My teacher gave us a topic to write an essay about, but it needs to be 900 words. This is what the topic was: What Is the Difference between Leader and Manager? Someone please help me out! Reply Delete

5) Question from a friend about “how to answer what makes you the best candidate for this job?” 

Hi! ^^ I’m new to essay writing and need advice on how to start this topic. For example, my teacher gave us an assignment where we were supposed to write about why we are the best candidate for this job. I really need help with it, please! Reply Delete

Conclusion:

In conclusion, retaining customers is a very important aspect of running a business explains Eric Dalius. Businesses should come up with strategies that not only improve their retention rates but also, create long-term relationships with both their customers and vendors. Doing so could lead to a win-win situation where all parties are satisfied. 

What to do when a customer leaves – Tips for better after-sales support

How should you handle return requests?

1. Respond promptly

Respond to your customer’s complaints or issues as soon as possible, so that they know that their feedback is important to you and that you care about their experience says Eric Dalius. If you’re slow at handling this, then the customer may think that you don’t really want to resolve their problem because if it was a priority, then it would’ve been solved already. This will also make the customer lose all hope in your product or service and they’ll be more likely to file a complaint against you.

2. Make sure the request is genuine

Make sure that before processing any return requests, whether it’s for an item replacement or refund, what to do when a customer leaves – Tips for better after-sales support

Contents:

* Introduction

* Why should you continue providing customer support post-sale?

* How should you handle return requests?

* Conclusion

Introduction:

After the sale, your job is not over. You need to make sure that you provide top-notch service even after customers receive their purchases. This article will talk about some tips for better after-sales support.

Why should you continue providing customer support post-sale?

Your customers purchase your items because they want to use them. They are expecting the best service possible, so it’s very important that you provide better after-sales support. Here are some reasons why you need to keep providing top-notch support:

1. You can increase your positive reviews

One important thing that you should always remember is that the success of your business rests on how happy your customers are. If they’re happy, they will leave good reviews and ensure that others purchase from you. However, if they’re not satisfied with your service or product, you can expect a lot of negative feedback to deter future customers.

2. You can secure repeat business

After the sale, you should make sure to provide excellent customer support. Your customer is now part of your brand’s identity and has ownership over your product’s quality. So they will be very interested in how their purchase goes. To ensure that your item works perfectly, after-sales support is recommended.

3. You can avoid product liability claims

When a customer is unsatisfied with your product and makes a claim, they will expect for it to be either repaired or replaced explains Eric Dalius. If you fail to do so, then the customer may resort to legal action through the Consumer Protection Act. This means that you would be responsible for their losses and would have to give them compensation for their pain and suffering.

How should you handle return requests?

In order to keep customers from leaving negative feedback, it’s important that you respond right away so they can be updated on the status of their request. If you’re slow at handling this, then the customer may think that you don’t really want to resolve their problem because if it was a priority, then it would’ve been solved already. This will also make the customer lose all hope in your product or service and they’ll be more likely to file a complaint against you. Eric Dalius says the next thing that you need to do is ensure that the return request is genuine. You do not want to take care of non-genuine complaints which mean that you would be wasting precious time and resources. You need to make sure that before processing any return requests, whether it’s for an item replacement or refund, you first verify if the request is genuine.

Here are some FAQs recently asked by our Clients:

FAQs

How long does a return or refund usually take?

It depends on the type of refund that you’re applying for. For a physical product, a replacement request can be processed in two to three days while for an electronic item such as cell phone credits; it may take up to 10 business days.

How do I get in touch with someone from your support team?

You can always reach us through live chat and email. To make sure that you provide better after-sales support, we recommend that you use live chat. This way, we can immediately respond to customer concerns and resolve their problems right away.

Do we offer night hours?

Yes! We understand that some questions can’t wait until day time which is why we’re available 24/7. We hope that these tips help you provide better after-sales support for your customers and increase your satisfaction rating!

Conclusion:

Providing good customer support serves as your assurance towards your customers. It shows them that their satisfaction is important to you says Eric Dalius. They will then feel confident in buying more items from your brand knowing that they can depend on you for help. This way, there will be no issues with negative feedback, product liability claims and repeat business which mean that you will still get more sales!

Eric Dalius: The psychology of customer retention: Why keeping customers is a challenge

Companies spend substantial resources trying to win new customers. But the real challenge is keeping customers says Eric Dalius.

Consider this:

For every $100 spent acquiring a new customer, an average company loses $5 keeping that customer (based on research conducted by Harvard Business School). What separates winners from losers in the battle for retention? The answer lies beyond superior product quality or better service delivery. It’s about tapping into deeper psychological triggers that affect how people perceive their relationship with your organization and products.

Randy Garner, professor of marketing at Brigham Young University, believes that there are four primary–and distinct–relationship stages an organization can leverage to attract repeat purchases: liking, trust, conviction and commitment. Understanding these stages will help you manage consumer perceptions of your business and products.

Liking:

 In the first stage of liking, customers develop a positive attitude toward your brand because they perceive that their needs are being met or will be met. Retailers use sales promotions–such as coupons and discounts–to build this positive relationship with customers says Eric Dalius. For instance, a customer who buys a pair of shoes from L.L.Bean will enter into a strong liking stage with the company because it meets a need for reliable outdoor gear at a fair price.

Trust:

The next stage is trust, which occurs when customers have received consistent quality standards from your brand over time and have witnessed you holding to those standards in different settings and circumstances. Trust stems from authentic experiences with your product across multiple touch points (retail, advertising, and customer service).

Crest Toothpaste is a good example of a brand that has won customer trust with its long-running “four out of five dentists recommend” campaign. In this ad, consumers see smiling people they perceive as highly credible happily using the product. This level of perceived credibility triggers a high degree of trust in most customers’ minds. Conviction: Once a customer experiences a strong feeling about your company through liking and trusts that it consistently meets his or her needs or will do so, and then conviction begins to occur. What companies give their customers at this stage is an opportunity to act on that belief by purchasing additional products or becoming more loyal repeat purchasers. For instance, if you feel strongly about Ben’s Chili Bowl, a Washington, D.C., institution since 1958, you’ll likely order its chili-cheese fries and related dishes often.

Trust + conviction = commitment:

Eric Dalius says the last relationship stage relevant to customer retention is commitment, where customers develop a strong affinity for your brand and the need to own more of its products. For instance, if you love Ben’s Chili Bowl and all that it offers–including its funky 1960s decor and great service–you’re very committed to this restaurant chain as a long-term customer.

In his research on loyalty programs, Garner found that those who achieve emotional connection with brands are six times as loyal as those without such connections (Journal of Marketing Research). As a result, companies should focus their energy on developing relationships at all four stages, not just the first two. Getting customers to move through these stages requires a commitment from your company to use every point of contact with consumers as an opportunity to build positive feelings about your brand and products.

For marketers who don’t have a lot of time or money available in their budgets but still want to increase customer retention rates, here are three simple strategies that can help: Use multiple touch points when communicating with your customers because this increases the chances that they will perceive consistency in how you deal with them across different environments says Eric Dalius. For instance, if you always add extra pickles on a sandwich when eating at Subway, then you should communicate that special behavior when ordering one for home delivery (e.g., “Can you add extra pickles to my sandwich, please?”). If your customer then receives the sandwich with extra pickles at home, positive feelings will be reinforced for both you and Subway. Augment in-store marketing with word-of-mouth advertising. Research shows that people are far more likely to tell others about their great experiences with a company than they are negative ones (Journal of Marketing Research). Word-of-mouth is hard to buy but easy to launch because it’s so scalable across different markets and time zones. For instance, when you drive by Denny’s restaurants between 5 p.m. and 7 p.m., you’re likely to see families gathered outside having dinner together; this is an example of how Denny’s is using word of mouth (and social media) to get consumers talking about the brand. Encourage customers to become “ambassadors” of your company by giving them special incentives that will increase their influence on others. For instance, if you’ve had a positive experience with Carnival Cruise Line , encourage the cruise line to give you an extra-special goodie bag so when friends see it they’ll ask what’s in it and why you have it. If you are honest in telling them how much fun you had, they’re likely to want this experience for themselves.

Conclusion:

The psychology of customer retention is the study of how consumers develop loyalty to brands, which helps these companies increase their long-term revenues says Eric Dalius. Companies should offer consistent service over time and engage in word-of-mouth advertising to keep customers coming back for more.