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How can company attract and retain right customers

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Page 1: How can company attract and retain right customers

Photo by Niklas Emmerich Photography - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/49422583@N02 Created with Haiku Deck

Page 2: How can company attract and retain right customers

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CRM is the process of carefully managing detailed information about individual

customers and all possible “touch points” to maximise loyalty

Page 3: How can company attract and retain right customers

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Identify prospects & customers

Differentiate customers by (1) their needs (2) their value to your company

Know their individual needs personally and build stronger relation

Customize process, services and messages to each customer

Page 4: How can company attract and retain right customers
Page 5: How can company attract and retain right customers

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Define and measure

retention rate

Distinguish customer attrition &

manage better

Compare lost customer’s

lifetime value to deflection

costs

Page 6: How can company attract and retain right customers

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Target Market Aware Open to

trial

Trier (non rejec-tor)

Recent User

Regular User

Most often Used

Loyal

Marketi ng Funnel

Page 7: How can company attract and retain right customers

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Reducing rate of customer deflection

Increasing longevity of

customer relation

Enhancing growth potential of each

customer

Making low-profit customers more

profitable

Provide valueable effort on high-

profit customer

Page 8: How can company attract and retain right customers

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Page 9: How can company attract and retain right customers

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Interacting with customers

Developing Loyalty Programs

Creating institutional ties

Page 10: How can company attract and retain right customers

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Re-Activate the In-Active

Page 11: How can company attract and retain right customers
Page 12: How can company attract and retain right customers

• Created by Karan Bhatt, NIT Surat, during an internship by Prof. Sameer Mathur, IIM Lucknow.

• www.IIMInternship.com