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Learn how relationship
marketing is changing the way marketers look at customers.
Transactional
marketing is a marketing strategy that focuses on a single transaction and not on the
customer relationship as a whole. This approach creates passive, reactive and short-term customer
relationships and does not focus on long-term customer loyalty and customer retention, as
relationship marketing does. Many organizations compare transactional marketing to relationship
marketing when creating a marketing strategy.
A coalition
loyalty program is a set of customer benefits from multiple organizations packaged together
in one customer loyalty program. This type of loyalty program is especially beneficial for small
and medium-sized businesses (SMBs) because it allows them to offer their customers a variety of
benefits in a cost-effective fashion.
A frequency
marketing program aims to maximize the number of visits, purchases or orders from customers
by rewarding customers based on their purchasing behavior. For example, many supermarket chains
offer loyalty programs where cardholders get discounts on certain products and coupons based on
their purchasing behavior.
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Learn how to create
your own customer loyalty program.
Enforced
loyalty is created when an organization requires a long-term contract for use of its
products or services. For example, an Internet Service Providers (ISP) may create enforced loyalty
by requiring customers to sign up for their service for a specific length of time.
Personalization,
often referred to as one-to-one
marketing, is the process of tailoring an organization's website, products or services to meet
the needs of each specific customer. Personalization is used to effectively meet customer needs,
increase customer satisfaction and build customer loyalty.
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See if Gartner recommends using personalization
to improve the customer experience.
Post-sales
support includes the services offered by the company after the sale has been completed,
usually as a way of ensuring customer satisfaction and building customer loyalty. These services
often include monitoring the order process, making sure the product is delivered, installed and
used correctly and providing maintenance and product care information to the customer.
'Growable'
customers are customers who may not have much current value to a company, but have the
potential to become solid, loyal customers in the future. These customers may never be the most
valuable, but can be "grown" into more valuable customers if the company takes their needs into
consideration and markets to them.
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Find out how one car company is targeting
its most 'growable' customers.
Below-zero
customers are customers who cost an organization more money than they are bringing in.
These customers end up costing an organization's most valuable customers money, and most experts
will recommend that an organization identify and attempt to get rid of their below-zero
customers.
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Get tips for getting
rid of below-zero customers in the call center.
Punch-card
loyalty programs are loyalty programs that reward a customer's purchase by bribing that
customer to make that purchase. A popular example of a punch-card loyalty program is a frequent
flier program, which rewards airline customers who purchase a flight with miles towards a future
flight on their airline. This type of loyalty program is not popular with industry experts because
it does not attempt to gain detailed customer information and market to customers based on their
preferences.
View this list of additional customer loyalty
buzzwords.
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