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From Harvard Business School: The customer rewards cards that clutter wallets and clog key chains of many a shopper may soon be no more, as retailers move from physical to digital (read: mobile apps) forms of loyalty program member identification. It’s a smart decision. Unfortunately, it’s one of the only smart decisions retailers are making when it comes to customer loyalty schemes.
From strategy+business: Some companies’ hapless responses to accidents and other incidents have made business seem untrustworthy, yet the value of a good corporate reputation has grown more important to the public. Companies must put strategies in place to safeguard their reputation and their brands.
From 1to1 media: “Consumers are in the driver’s seat,” Alterian CEO David Eldridge told attendees of Alterian’s Engaging Times Summit 2010, “and they want interaction, not interruption.” During his opening remarks Eldridge also revealed several findings from the company’s report “Your Brand: At Risk or Ready for Growth,” based primarily on a study of about 1,000 consumers. According to the report, he said, customer trust is low and companies need to focus on rebuilding that trust.
From Inc: Every day, business owners work hard to gain new customers through sales and marketing efforts. What many may be overlooking is the fact that it costs six times more to get a new customer than it does to keep an existing customer, says Bob Shaff, president of Customers for Life Consulting, a Tucson, Arizona customer loyalty consulting firm. Loyal customers recommend your products and services to others, cost less to serve, generally aren’t as price-sensitive, and will forgive the occasional misstep because they have a relationship with you, he adds.
Thursday, December 4, 2008 · Topics: customer-loyalty
From 1to1: New research on customer loyalty from Forrester Research, Acxiom, and others shows that “loyalists” tend to share a similar profile, even in verticals as diverse as banking, mobile phones, consumer goods, and electronics. They are female, tech-friendly, and family-oriented, according to Forrester.
From Knowledge@Wharton: Roberts talks about the skills needed to be a successful marketer, what consumers really want, the importance of failure, his own personal management style, and the need to have a dream.