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Creating Long-Term Loyalty Relationships - Coggle Diagram
Creating Long-Term Loyalty Relationships
Customer Perceived Value
Defining Value
Total Customer Benefit
Total Customer Cost
Applying Value Concepts
Customer Value Analysis
Identify attributes/benefits that customers value
Assess quantitative importance
Assess company and competitor performances
Examine how customers in specific segment rate with company and competitors
Monitor customer values over time
Choice Processes & Implications
Delivering High Customer Value
Value Proposition
Value Delivery System
Customer Satisfaction
Monitor Satisfaction
Measurement Techniques
Periodic surveys
Mystery Shoppers
Product & Service Quality
Conformance Quality
Performance Quality
Maximizing Customer Lifetime Value
Customer Profitability
Activity-Based Costing
Customer Lifetime Value
Attracting & Retaining Customers
Reducing Defection
Customer Churn
Reduce Defection Rate
Define & Measure retirement rate
Distinguish causes of customer attrition & identify those that can be managed better
Compare lost customer's lifetime value to cost of reducing defection rate
Retention Dynamics
Marketing Funnel
Conversion Rates
Managing Customer Base
Reducing rate of customer defection
Increasing longevity of customer relationship
Enhancing growth potential of each customer through "share of wallet", cross-selling, and up-selling
Making low-profit customers more profitable or terminating them
Focusing disproportionate effort on high-profit customers
Building Loyalty
Interact Closely w/Customers
Develop Loyalty Programs
Frequency Programs
Club Membership Programs
Create Institutional Ties
Cultivating Customer Relationships
Customer Relationship Management
Customer Value Management
Personalizing Marketing
Permission Marketing
Customer Empowerment
Customer Reviews & Recommendations
Customer Complaints