Customer Retention

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Customer Retention

• E-MarketingBy Chris Thames

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What is Customer Retention?

• Customer retention is the ability to keep
  customers coming to your store or website to
  create repeat business.

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How is Customer Retention achieved?

• Knowing customer behavior
• Customer expectation of future use
• Keeping customers active with tools
• Strong CRM system

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Knowing Customer Behavior

• Track customers
• Gather and store data
• Do data mining
• Know trends current events
• Create Useful Information

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Customer Expectation of Future Use

• Is there a reason to use in the future?
• Influence future choices (Anticipated regret)
• Examples
• AOL
• Cellular One

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Keeping Customers Active w/ Tools

• Cycle
• Action
• Reaction
• Feedback
• Repeat

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Keeping Customers Active w/ Tools

• Sophisticated searches
• Spam (News Alerts)
• Online payment
• Online support

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Keeping Customers Active w/ ToolsAmazon.com

• Gold box
• 1-Click
• The page you made
• Recommendations
• Sell your past purchases

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Keeping Customers Active w/ ToolsBarnes
Noble.com

• Bridging online and offline services
• Returns
• Gift Cards
• Recommendations
• Writer Alert

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Customer Relationship Management

• CRM is a business strategy that commits an
  organization to be customer centric with intent
  to deliver profitable value by understanding and
  anticipating customer needs CRMcommnity
• CRM consists of a set of enabling technologies
  that centralize customer data and provide an
  infrastructure that facilitates the profitable
  delivery of value CRMcommnity

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Future of CRM

• Self-service CRM
• Intelligent text recognition
• Intelligent voice recoginition

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The End

• Questions?