Why Customer Loyalty is Important
In a study detailed by the Harvard Business Review, it has been shown that improving customer loyalty by just 5% can have profits soaring by up to 95%. In fact, the efforts marketing teams make in acquiring new customers are far more expensive than retaining existing ones.
Loyal customers come in different variants. Many are simply happy to continue buying the brand out of convenience and familiarity. There are those, however, who are known as ‘actively loyal’. These loyal customers can actually benefit a company by actively promoting it.
This week’s Marketing Eggspert round-up is filled with Customer Relationship Management tips- otherwise known as CRM. I’ve included posts about what CRM is, it’s failures and how to fix them, using it for marketing and business growth, how to use it smartly, it’s opportunities and how to choose the right one and lots more.
Business growth is an important attribute of entrepreneurial life. When a person starts a business, he/she has to take care of several factors to establish it and make the desired progress. Despite introducing an exponential business model, many business organisations are forced to shut down their operations soon after launching.
It is because they fail to sustain in the competitive business market and make profits. Manual work and production techniques are also responsible for the untimely demise of several business organisations because they fail to compete with AI-driven business organisations.
That is why several business organisations have started to use CRM software for business growth and expansion. Let’s see how it helps to accelerate business growth.
This week’s Marketing Eggspert concentrates on what a lot of people either dread, or cannot do: Public Speaking. I’ve collated posts with tips to overcome your fear of public speaking, podcastings, becoming a confident public speaker, some fun stuff about speaking in a foreign language (to you), top TED Talks speaker tips, book review, how to master the art of public speaking and more.
Customer Service is a very important factor of your business and it cannot be overlooked or you’ll lose customers very quickly. In this Marketing Eggspert round-up I’ve included posts discussing online customer service, branding, customer service rules, video, remote service team, customer service strategy and more.
This post was originally published on AllBusiness.com.
In San Diego, there’s a taco shop on every corner—you think I’m exaggerating, but I’m not. And while every San Diegan has her go-to shop for the city’s famous fish tacos, most of the shops look the same:
- Bars on windows
- Bright colors
- Maybe a sombrero or sarape hanging on the wall
- Decor is background noise because you’re there for the food
If you’re a business owner, you’ve undoubtedly made customer service a major priority. You’ve figured out a way to make a customer’s time in your store or office simple and carefree. For customers that walk in through your front door, you’ve got their experience covered. But what about the flawless customer experience you offer online, for those who enter your business through its digital front door?