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Stop chasing “sexy” customers
I just stumbled on a YouTube video of Susan Boyle, the overweight, dowdy singer that shocked the judges of Britain’s You’ve Got Talent TV show with her spectacular voice. The judges were openly derisive before she performed, and gave her a standing ovation afterward. The video is touching–watch it, even if you aren’t into music […]
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5 Steps of the Customer Loyalty Hierarchy
In a recent discussion on LinkedIn, Shaun Mooney said he thought the first step in Customer Loyalty is the product. I think that the more appropriate statement is that the first step in the “transaction” is the product, and the first step to loyalty is the emotional connection created through the customer experience.
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How Vulnerable are Your Customers? (part 6)
In my previous blog post I described the current situation: Now more than ever, your customers are being bombarded by competitive offers and even some of your most loyal customers are actually listening to your competitors. Your customers are vulnerable. What can you do about it? The last thing you need to do is consider […]
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How Vulnerable are Your Customers? (part 5)
In my previous blog post I described the current situation: Now more than ever, your customers are being bombarded by competitive offers and even some of your most loyal customers are actually listening to your competitors. Your customers are vulnerable. What can you do about it? The third thing you need to do is find […]
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How Vulnerable are Your Customers? (part 4)
In my previous blog post I described the current situation: Now more than ever, your customers are being bombarded by competitive offers and even some of your most loyal customers are actually listening to your competitors. Your customers are vulnerable. What can you do about it? The third thing you need to do is Leverage […]
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How Vulnerable are Your Customers? (part 3)
In my previous blog post I described the current situation: Now more than ever, your customers are being bombarded by competitive offers and even some of your most loyal customers are actually listening to your competitors. Your customers are vulnerable. What can you do about it? The second question you need to ensure you can […]
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“Firing” Customers–the AmEx Way
How do you “fire” your most unprofitable customers? American Express is offering a$300 prepaid American Express gift card to entice select cardholders to pick up their marbles and go home. Cardholders with high balances and little to no spending or payment activity have been identified as high risks, particularly now as card issuers prepare to […]
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Are You Sacrificing Loyalty for Short-Term Profits?
How often do you make a change that you’re just sure that customers are going to love and are met with dead silence? Or worse, vociferous complaints? Today’s Wall Street Journal reports that US Airways is reversing its decision to charge for water and soda, saying that the customer backlash is overshadowing efforts to highlight […]
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Consumers are Trading Downwards
As I’ve mentioned before, there are a number of indicators that during this recession customers are trading downwards. What can you do to align yourself with this trend? If you look closely, you’ll see how you can take advantage of it so that you do two things: keep your low-end customers from trading down to […]
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If you scare customers away, will they ever return?
I was reading some research conducted by Harris in 2007 and published by RightNow that said that, “ 80% of respondents said they would never return to an organization after a poor customer experience.” Clearly those surveyed were consumers with a plethora of options available to them such that they could afford to be so […]