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Customer Retention

Customer retention is the measure of how well the customer STAYS and STAYS ENGAGED with the organization OR with specific products and services.

The phrase refers to the percentage of customer relationships that, once established, a business is able to maintain on a long-term basis. Customer retention is a simple concept — happy customers who feel important and are regularly communicated with in the right way will keep coming back. It is a major contributing factor in the net growth rate of businesses. For example, a company that increases its number of new customers by 20 percent in a year but retains only 85 percent of its existing customers will have a net growth rate of only 5 percent (20 percent increase less 15 percent decrease). But the company could triple that rate by retaining 95 percent of its clients.

How to achieve it?

The first step in establishing a customer retention program is to create a time line of a typical customer relationship, outlining all the key events and interactions that occur between the first contact with and the eventual loss of the customer. The next step is to analyze the company's trends in losing customers. Customer defections may be related to price increases or to a certain point in the relationship life cycle, for example. Finally, small business owners can use the information gathered to identify warning signs of customer loss and develop retention programs to counteract it.

Polls
Customer retention is more than giving the customer what they expect, it’s about exceeding their expectations so that they become loyal advocates for your brand. Creating customer loyalty puts ‘customer value rather than maximizing profits and shareholder value at the center of business strategy’. The key differentiator in a competitive environment is more often than not the delivery of a consistently high standard of customer service.

A variety of strategies are available to small business owners seeking to improve their customer retention rates. Of course, the most basic tools for retaining customers are providing superior product and service quality. High quality products and services minimize the problems experienced by customers and create goodwill toward the company, which in turn increases customers' resistance to competitors' overtures. However, it is important that small business owners not blindly seek to improve their customer retention rate. Instead, they must make sure that they are targeting and retaining the right customers — the ones who generate high profits. "In short, customer retention should never be a stand-alone program, but rather part of a comprehensive process to create market ownership" Sherden wrote.

Relationship Marketing

 

Application Marketing

  1. What is Relationship Marketing?


    This is a marketing strategy designed to achieve long-term relationships with customers.
  2. Its Benefits


    If done well, benefits include increased customer retention.

  3. Customer Satisfaction

  4. Customer Retention

  5. Satisfaction & Retention - which is more important?



  6. Marketing Stages


    There are many different names given to these stages, depending on the type of business.
  7. Why relationship marketing?


    CRM can substantially help a company during a slowing economy.
 
  1. What is Application Marketing?


    One of the most innovative ways now-a-days, to market a product you offer, is to create a marketing campaign on Instant messangers.

  2. How to use IM?


    How do you use IM as a marketing tool?

  3. What not to do?


    When looking for the right marketing tactics to reach customers in an increasingly noisy media space, it's important to step back and consider how different modes of communication work and how consumers use them.

  4. Looking to find people?


    Created an Instant Messenger account, but don't have many people to communicate?


How to use Diigo?

Socializer
FREE service to make updating your social networks a snap!
Polls
Diigo stands for "Digest of Internet Information, Groups and Other stuff." Diigo is a quality social bookmarking site. Social bookmarking sites allow users to discover, categorize, and share useful content and information.

They are great tools to promote yourself as an authority by sharing relevant information and eventually promoting information about your business. This sharing activity elevates your online visibility and overall relevancy. So it's important that you get to know more about how to use Diigo the most efficiently for your business to succeed.

Bookmarking a page with Diigo

  1. Anything you select with your mouse will go into the bookmark when you hit the button.
  2. You have to turn off the annotation's Highlighting feature for this to work.
  3. Whatever you type in the box becomes part of the bookmark.
  4. Summarize what you've read in the box. (This will help prevent plagarizing work by putting it in your own words.)
  5. Be consistent with your tags so you can see patterns and organize your bookmarks.
  6. First, find the web page you want to bookmark.
  7. Using the mouse, select and drag your mouse across some text.
  8. Click the bookmark button.
  9. Type some text in the box summarizing what you've read in addition to what is already showing.
  10. Don't click "Save" yet, watch the next video first!
  1. Follow on Diigo
    Diigo Followers are people who will get updates when you post some new material. Really, you need do nothing more than write good articles to court future followers. Still, you'll need a tool like Get Free Followers - which will promote your Diigo profile to a large userbase!

Getting as many followers is a key to how to use Diigo successfully. Diigo is one of several social bookmarking applications that are available, and I like it for the following reasons.

  1. It's very intuitive to use. In this sense, it's not that different from the others available.
  2. It's also FREE. Ditto.
  3. You can publish a bookmark straight to your blog : This is a very nice feature. It means that you can, in effect, use the Diigo description text box as a surrogate blogging platform: very handy if you're out and about, and you come across a website you'd like to draw others' attention to, but don't have the time to write a blog about it, or to repeat what you have already said in the Diigo text box.
  4. If you prefer, you could send the link to Twitter instead.
  5. You can also organise your bookmarks into lists. I have to say that I have not yet tried this myself, but it seems like the kind of feature you'd find useful.
  6. For the time being at least, I've decided to make use of the Groups feature. You can join (or apply to join) groups within your area of interest. Doing so will mean that you can be notified of any new bookmarks that other people in your niche have made. It's like doing research, or having continuing professional development, without actually doing much apart from checking your email now and again.
  7. You can also create your own groups : I've created a group called Make money from Social Media in Computers & Internet. From a sharing point of view, it doesn't really cover anything more than several other Make Money-related groups already do. But I created it as a way of easily storing bookmarks I have referenced, or may wish to reference, in my own articles.
  8. Remember my point about being able to publish a bookmark to a blog? Well, the feature that makes Diigo stand out for me is the facility of being able to set up an autoblog post. What that means is that I can set it up to post my bookmarks at particular times and intervals. You can set conditions too. Thus I have set it up to automatically publish, twice a day (although I may change this to once a day or even once a week), any bookmarks in the group I have created. So, if I bookmark something now, it will miraculously appear on my blog at 9 pm today. If I discover and bookmark stuff after that, it will automatically publish it tomorrow morning at 9 am.

    Think of how you could use this in school. For example, you could require your students to join a particular group and bookmark useful sites there, and have that published once a week, say. So their weekly homework would be to check the blog every week to see what's new, and to explore the freshly-bookmarked sites.

  9. As with other social bookmarking sites, you don't have to share all of your URLs with the world: you can mark them as private if you prefer.

Youtube promotion

 

Social influencers

  1. Favorite videos Youtube
    Do you want to be a certified public figure? Increasing favorites can attract the attention of YouTube; thus, your video get ranked up for a positive engagement. It plays a major role in SEO of that video.
  2. Get Likes on Youtube
  3. How to get more Views on Youtube?
  4. FREE Youtube Subscribers
    If you have a YouTube channel, or you're a brand or creator using video as a marketing tool then, you must be wondering how you can get more YouTube subscribers and increase the reach of your YouTube videos.
  5. How to promote Youtube Videos?
    Improve your Videos' search engine rankings. What YouTube wants to see is engagement and you can get that in the form of YouTube comments. Encourage others to comment on your video. Encourage discussions to start.
 
  1. Delicious Subscription
  2. Follow on Diigo
  3. VK Page
  4. VK find Friends
  5. Make money with MySpace
  6. How to get Followers on Pinterest fast?
  7. How to get Reverbnation Fans?
  8. Free Soundcloud Followers
  9. Stumbleupon Followers
  10. Make money from Twitter Followers
  11. Vimeo for business
  12. Free Vine Followers
  13. VK promotion
  14. How to increase Followers on Facebook?
  15. Get more Google Plus Followers
  16. Get paid to Follow on Instagram
  17. FREE Youtube Subscribers
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