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Mera medicare

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Customer retention involves activities to reduce customer defections and keep existing customers. It is important because acquiring new customers is expensive, while loyal customers spend more and are less sensitive to price changes. Customer satisfaction, loyalty, and retention are connected, with satisfied customers becoming loyal and less likely to defect. To improve retention, companies should create a culture that generates buzz, build trust through consistency, make trust the most important factor, treat staff well so they treat customers well, and create transparency through an open dashboard.

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Increase Customer Retention For Mera Medicare Amar Chand
What is Customer Retention? Customer retention is the activity that a selling organization undertakes in order to reduce customer defections. Successful customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship.
Mera medicare
Why Focus on Customer Retention? • Getting new customers is expensive • We need to protect our revenue stream • Repeat customers spend more • Loyal customers are less price sensitive • They Will Take Their Business Elsewhere
Mera medicare
Highly Satisfied Satisfied Dissatisfied Highly Loyal Loyal Disloyal Retain Defect Customer Satisfaction, Loyalty and Retention Model
Mera medicare
Mera medicare
Customer loyalty is a customer’s commitment or attachment to a brand, store, manufacturer, service provider, or other entity.
Customer loyalty is measured by proportion of purchase • Undivided loyalty: AAAAAAAAAA • Occasional switcher: AABAACAABB • Switched loyalty: AAAAABBBBB • Divided loyalty: AAABBBAABB • Indifferent: ABCDADCBAC
Customer loyalty includes:- • A behavior regarding the product • An attitude towards the brand/company.
Challenge with behavior as a loyalty criteria is a customer may repeat purchases because:- •Convenience, price, availability, or inertia due to habit. •Purchases made w/out motive for choice
Emotional Bonding:- •Brand affect, brand equity •Company attachment •Feelings of closeness, affection trust & respect •Technology limits emotional bonds.
• Willingness of customer to rely on organization • Reduces uncertainty and risk • Honest, fair and unreasonable.
Mera medicare
1. Create A Culture Of Buzz! If the marketplace isn't talking about you, there's a reason. The reason is that you're boring. And you're probably boring on purpose. You have boring pricing because it's safer...You have boring products because that's what the market wants.
2. Consistency builds trust! • Customer retention is a long-term game, not a drive-by event. • Repetition, consistency & authenticity build trust and are the foundational tools of customer retention.
3. Trust most important factor to offer! Lack of trust is the single greatest reason you can’t keep customers.
4. Staff as customer! Your employees treat your customers the same way you treat the employees!
5. Create an open dashboard. • One-page, high-level view of key strategic, marketing and financial indicators. • Transparency with employees key to company success and vision as well as customer retention.
Mera medicare

More Related Content

Mera medicare

  • 1. Increase Customer Retention For Mera Medicare Amar Chand
  • 2. What is Customer Retention? Customer retention is the activity that a selling organization undertakes in order to reduce customer defections. Successful customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship.
  • 4. Why Focus on Customer Retention? • Getting new customers is expensive • We need to protect our revenue stream • Repeat customers spend more • Loyal customers are less price sensitive • They Will Take Their Business Elsewhere
  • 9. Customer loyalty is a customer’s commitment or attachment to a brand, store, manufacturer, service provider, or other entity.
  • 10. Customer loyalty is measured by proportion of purchase • Undivided loyalty: AAAAAAAAAA • Occasional switcher: AABAACAABB • Switched loyalty: AAAAABBBBB • Divided loyalty: AAABBBAABB • Indifferent: ABCDADCBAC
  • 11. Customer loyalty includes:- • A behavior regarding the product • An attitude towards the brand/company.
  • 12. Challenge with behavior as a loyalty criteria is a customer may repeat purchases because:- •Convenience, price, availability, or inertia due to habit. •Purchases made w/out motive for choice
  • 13. Emotional Bonding:- •Brand affect, brand equity •Company attachment •Feelings of closeness, affection trust & respect •Technology limits emotional bonds.
  • 14. • Willingness of customer to rely on organization • Reduces uncertainty and risk • Honest, fair and unreasonable.
  • 16. 1. Create A Culture Of Buzz! If the marketplace isn't talking about you, there's a reason. The reason is that you're boring. And you're probably boring on purpose. You have boring pricing because it's safer...You have boring products because that's what the market wants.
  • 17. 2. Consistency builds trust! • Customer retention is a long-term game, not a drive-by event. • Repetition, consistency & authenticity build trust and are the foundational tools of customer retention.
  • 18. 3. Trust most important factor to offer! Lack of trust is the single greatest reason you can’t keep customers.
  • 19. 4. Staff as customer! Your employees treat your customers the same way you treat the employees!
  • 20. 5. Create an open dashboard. • One-page, high-level view of key strategic, marketing and financial indicators. • Transparency with employees key to company success and vision as well as customer retention.