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Chap 5- Creating customer value, satisfaction & loyalty

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Joan Soliven
Joan Soliven

Top 2 Concepts using 21 powerpoint techniques

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Top 2 Concepts Ch 5 and Creating Customer Value, Satisfaction & Loyalty Joan Soliven March 31, 2011 joansoliven.blogspot.com
Outline A. Customer value & satisfaction ,[object Object],B. Customer Loyalty ,[object Object],joansoliven.blogspot.com
1. Customer Value Difference between what a customer gets from a product, and what he or she has to give in order to get it. joansoliven.blogspot.com
1. Customer Satisfaction The number of customers of total customers, whose reported experience with a firm, its products, or its services exceeds specified satisfaction goals." joansoliven.blogspot.com
Satisfying Customer should be the top priority of every organization CUSTOMERS CUSTOMERS joansoliven.blogspot.com
Measuring Customer Satisfaction joansoliven.blogspot.com
2. Customer Loyalty Customer loyalty is all about attracting the right customer, getting them to buy, buy often, buy in higher quantities and bring you even more customers. joansoliven.blogspot.com
Maintaining Customer Loyalty Reduce the rate of defection Increase longevity Enhance”share of wallet” Terminate low-proift customers Focus more effort on high profit customers joansoliven.blogspot.com
Companies that gained customer loyalty joansoliven.blogspot.com
Maintaining Customer is better than Acquiring Customer Acquisition of customers can cost five times more than retaining current customers. The average customer loses 10% of its customer each year. A 5% reduction to the customer defection rate can increase profits by 25% to 85%. The customer profit rate increases over the life of a retained customer. joansoliven.blogspot.com
Summary The company should meet the customers’ needs and wants in order to satisfy them. The company should constantly evaluate if the costumer needs & wants are met. Maintaining customer is easier than acquiring new costumer. joansoliven.blogspot.com
Conclusion The heart of satisfying and maintaining customer is to meet their needs and wants, creating good relationship thus creates customer loyalty. joansoliven.blogspot.com
Thank you! Ch 5 and Creating Customer Value, Satisfaction & Loyalty Joan Soliven March 31, 2011 joansoliven.blogspot.com

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Chap 5- Creating customer value, satisfaction & loyalty

  • 1. Top 2 Concepts Ch 5 and Creating Customer Value, Satisfaction & Loyalty Joan Soliven March 31, 2011 joansoliven.blogspot.com
  • 2.
  • 3. 1. Customer Value Difference between what a customer gets from a product, and what he or she has to give in order to get it. joansoliven.blogspot.com
  • 4. 1. Customer Satisfaction The number of customers of total customers, whose reported experience with a firm, its products, or its services exceeds specified satisfaction goals." joansoliven.blogspot.com
  • 5. Satisfying Customer should be the top priority of every organization CUSTOMERS CUSTOMERS joansoliven.blogspot.com
  • 6. Measuring Customer Satisfaction joansoliven.blogspot.com
  • 7. 2. Customer Loyalty Customer loyalty is all about attracting the right customer, getting them to buy, buy often, buy in higher quantities and bring you even more customers. joansoliven.blogspot.com
  • 8. Maintaining Customer Loyalty Reduce the rate of defection Increase longevity Enhance”share of wallet” Terminate low-proift customers Focus more effort on high profit customers joansoliven.blogspot.com
  • 9. Companies that gained customer loyalty joansoliven.blogspot.com
  • 10. Maintaining Customer is better than Acquiring Customer Acquisition of customers can cost five times more than retaining current customers. The average customer loses 10% of its customer each year. A 5% reduction to the customer defection rate can increase profits by 25% to 85%. The customer profit rate increases over the life of a retained customer. joansoliven.blogspot.com
  • 11. Summary The company should meet the customers’ needs and wants in order to satisfy them. The company should constantly evaluate if the costumer needs & wants are met. Maintaining customer is easier than acquiring new costumer. joansoliven.blogspot.com
  • 12. Conclusion The heart of satisfying and maintaining customer is to meet their needs and wants, creating good relationship thus creates customer loyalty. joansoliven.blogspot.com
  • 13. Thank you! Ch 5 and Creating Customer Value, Satisfaction & Loyalty Joan Soliven March 31, 2011 joansoliven.blogspot.com