629 Posts Found

Acquiring new customers is the “show biz” side of direct marketing: The budgets are much larger, and you get to be more creative and perhaps use a broader variety of media. There’s this problem, though: It costs five times as much to find a new customer as it does to keep an existing one.

That’s why smart organizations are focusing more of their resources on keeping … [ Read more ]

Content: Article | Author: Jay Bower | Source: MarketingProfs | Subjects: Customer Related, Marketing / Sales

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If you listen to your existing customers, a disruptive innovation can come along…which the customers are behind the curve on. They don’t know what new markets could be coming down the road. So you need to have two sets of antennae out there: one listening to your customers, but the other looking at what is completely disruptive that even your customers may not be attuned … [ Read more ]

Content: Quotation | Source: Chief Executive | Subjects: Customer Related, Innovation

I always imagine that there is a customer with me at all times. We always shine in front of customers, right? I think I’m at my best when I’m talking to customers. So, I have taken that mindset and I’ve incorporated it into all of my daily activities. I imagine there is a customer watching me. They can see everything that I’m doing. Would they … [ Read more ]

Content: Quotation | Source: Joe Sails | Subjects: Customer Related, Marketing / Sales

Distraction, information, and compensation are common strategies that may mollify waiting customers.

Content: Article | Author: Dave McMahon, Ph.D. | Source: Graziadio Business Report | Subjects: Customer Related, Operations

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The consumer mind has a logical and emotional part to it, and if you don’t speak to both, you will lose them, especially when they’re hungry, tired, angry, or lonely.

We’re living in an age of anxiety. People have less leisure time. When they’re not hungry, tired, angry, or lonely, the emotional side will win the debate with the logical part of the brain 80% of … [ Read more ]

Content: Quotation | Source: BusinessWeek | Subjects: Customer Related, Marketing / Sales

Remember that old adage about a leader being someone who will take you to places you would never go on your own. Well, if you allow them to, customers will do that for you. If you really listen, they will tell you exactly where you are as a business. They tell you the painful truth, they are not worried about careers or promotion and they … [ Read more ]

Content: Quotation | Source: European Business Forum (EBF) | Subjects: Customer Related, Leadership

How to transform your call center from a budget drain into a source of competitive advantage.

Content: Article | Author: Alice Dragoon | Source: CIO Magazine | Subject: Customer Related

You want to talk CRM? You want to talk about sustainable sources of strategic advantage? Let me emphatically state: If you don’t have infrastructures or apps that make it easy for your best and most profitable customers to give you ideas about how you can do better and be better, you need to rethink what digital networks can and should mean in your organization.

Any company … [ Read more ]

Content: Quotation | Author: Michael Schrage | Source: CIO Magazine | Subject: Customer Related

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When someone comes to me with a cost saving idea, I don’t immediately jump up and say yes. I ask: what’s the effect on the customer?

Content: Quotation | Source: Babson Insight | Subjects: Customer Related, Management

Any traditional call center is measured in terms of cost: How long did the customer have to wait? How many calls went through the call center versus using self-service? How long was the average call? The challenge comes when you want to drive revenue out of the contact center. Those metrics get turned on their head. It takes time to sell to a customer. You’re … [ Read more ]

Content: Quotation | Source: CMO Magazine | Subjects: Customer Related, Marketing / Sales

We have much better customer service than we used to. Some people say, “Sure, we’re doing CRM because we have friendlier telephone operators.” I call that random-access CRM. No matter how great the service is, it doesn’t matter if the company doesn’t remember the customer.

We call that the “goldfish principle,” after Dory, the goldfish, in Finding Nemo. She’s lovely, but she can’t remember a thing … [ Read more ]

Content: Quotation | Source: Optimize Magazine | Subject: Customer Related

Thanks to technology and other innovations we know far more about our customers than we ever did before, but I would contend that we don’t understand more about our customers than we did 40 years ago. We can put each customer’s order on a microchip, but as far as having a sense of what’s inside making him tick, the answers remain elusive.

Content: Quotation | Source: Knowledge@Wharton | Subjects: Customer Related, Marketing / Sales

Sales reps are always seeking the edge — always trying to find a new way to wow their clients. Gallup has identified four key dimensions and eight questions that will help them do just that.

Content: Article | Authors: Benson Smith, Tony Rutigliano | Source: Gallup Management Journal | Subjects: Customer Related, Marketing / Sales

For subscription-based businesses, even a small reduction in churn can have a huge impact on enterprise value. But traditional satisfaction data and attempts to rescue departing customers don’t get to the root causes that make customers want to leave. Instead, companies should invest in understanding which aspects of the customer experience drive consumer behavior, so that they can act to reduce churn cost-effectively.

Content: Article | Author: Martin Kon | Source: Mercer Management Journal | Subjects: Customer Related, Marketing / Sales

Treat the pursuit of customer satisfaction as you do any other profit-driven investment — that is, assess it in terms of its net present value (NPV) and/or return on assets employed (ROA).

Content: Article | Author: Chic Fojtik, Ph.D. | Source: Graziadio Business Report | Subjects: Customer Related, Marketing / Sales

Rapid user adoption of CRM technologies is crucial to achieve productivity gains from customer-facing investments. The Bank of New York used a “high user involvement” strategy to encourage 1,650 users to adopt a unified sales process in 32 countries. Its keys to success: getting users involved early, using an efficient implementation approach, and maintaining a tight focus on delivering benefits for users, not just management. … [ Read more ]

Content: Case Study | Authors: Ian Schuler, Jessica Harrington, John Ragsdale, William Band | Source: Forrester Research | Subjects: Customer Related, IT / Technology / E-Business | Industry: Finance / Banking | Company: The Bank of New York

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