8.3 Customer Retention

Recap: What form of market research is a Survey
A
Primary
B
Secondary
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Slide 1: Quiz
Economie & OndernemenMiddelbare schoolhavoLeerjaar 3

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Recap: What form of market research is a Survey
A
Primary
B
Secondary

Slide 1 - Quiz

Recap: What form of market research is online research
A
Primary
B
Secondary

Slide 2 - Quiz

Recap: Quantitive or Qualitative data

A
Quantitive
B
Qualitative

Slide 3 - Quiz

Recap: Quantitive or Qualitative data

A
Quantitive
B
Qualitative

Slide 4 - Quiz

8.4. Customer Retention
  • The reason for retaining customers 
  • The methods of measuring customer satisfaction and retention 
  • Retaining existing customers
  • Complaints

Slide 5 - Diapositive

The reason for retaining customers

Establishing and maintaining brand loyalty
  

Increasing or defending sales, market share or profit

Slide 6 - Diapositive

Slide 7 - Diapositive

The methods of measuring customer satisfaction and retention 

  • The number of sales & complaints
  • Mystery shopper feedback questionnaires
  • Focus groups


Slide 8 - Diapositive

Retaining existing customers
An enterprise could:
  • Demonstrate that it knows its customers and can satisfy their needs
  • Try to make its customers feel special and valued
  • Resolving complaints (see last slide)
  • Establish a reward or loyalty scheme
  • New products/ promotions
  • Surveys

Slide 9 - Diapositive

Slide 10 - Diapositive

Complaints
How to deal with a complaint effectively:

  • Pay attention to the complaint – listen and take it seriously
  • Apologise (if necessary) and be genuine
  • Don’t blame anyone in the enterprise
  • Try to resolve the issue – satisfy the customer where possible – compensation
  • The resolution should enhance the customers perception of the enterprise!

Slide 11 - Diapositive

Knowledge check:
True or false
The probability of selling a new product to an existing customer is 60 - 70 %
A
True
B
False

Slide 12 - Quiz

Knowledge check:
True or false
New customers are more likely to try new products
A
True
B
False

Slide 13 - Quiz

Name one method of how an enterprise can measure customer satisfaction and retention

Slide 14 - Question ouverte

Why is it important to make a customer feel valued in an enterprise?

Slide 15 - Question ouverte

Give a tip on how to manage a complaint effectively

Slide 16 - Carte mentale

Independent work
Complete the workbook tasks for 8.4
Homework check next lesson for unit 8
15th April unit 8 SO

Slide 17 - Diapositive