SERVICE: Customer Loyalty

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Uploaded by on Jul 1, 2011

Tom Peters says to forget the complex data analysis (such as least squares fits), and concentrate on the customer. You'll be amazed at the possible payoff.

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  • Stand behind your product and provide amazing customer service. So true and so obvious - yet its rarely followed.

  • In a marketing class, the teacher explains : « it costs more to get new customers then to keep the ones you already have ». Duly noted by all students. Now why is that, because steep discounts are offered to get these new highly valuable customer. When cost and value are confused, it’s easy to put customer loyalty in the back seat.

  • This is also true in the nonprofit sector as well. There, it's not just dollars spent, its also hours contributed and people served.

  • As a new world order is growing what are your thoughts on loyalty now, where a few years ago dependency on the loyal meant profits now it mean simply survival. If you love your customers and your customers love you back, they will fight to help you survive.

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