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A 2% increase in customer retention is equal to a 10% cut in costs. Now that’s pretty interesting for any company that’s gone about as far as it can go in paring back costs. So how can you ramp up your customer retention strategy?
While customer service might have improved in Ireland, I regularly check out service standards in hotels, restaurants and shops and there is still so much room for improvement. And the great thing about customer service is that […]
A good, solid customer relationship is built on trust and commitment. But how can you build trust quickly, or is that the point: trust must be built through positive experiences over time?
I know one shop that manages to build trust in one single transaction. Not only that, but this shop builds positive word of mouth (PWOM) even among first time customers. OK, enough of the mystery then, I’ll tell you the name of the shop. It is Martyn Evans Tennis […]
For some years I have been running programmes with companies on writing up marketing plans and developing marketing strategies. As I teach marketing strategy right up to MBA level, I know how complex marketing strategy can be. Yet companies want me to help them come up with a plan in a matter of hours. Is this an impossible demand? Can anything useful be done in a few hours, when we know that so much research is required?
In a recent Edelman Trust Barometer has some shocking but not surprising findings. Trust is a rare thing in Ireland at the moment. And that matters hugely. Every time you hear the word ‘trust’, think ‘confidence’. And when you see confidence in short supply, think ‘lethal damage’.
Even if you didn’t know intuitively that consumers who don’t trust don’t buy, this report helps us understand the corrosive impact of low trust. Over 90 per cent of those surveyed in Ireland said […]
In the field of influence and persuasion, Dr Cialdini (pronounced Chilldini) is the most quoted social psychologist in the world today. And he talks a lot about the importance of being likeable when going about our business. Whether you’re a surgeon, a mountain guide or a receptionist, you need to influence people to like you and like the ‘brand’ you represent, as an individual and as an embodiment of the organisation and its values.
For example, for all you surgeons out […]
1st Secret – People buy for emotional reasons and then rationalise it with logic.
But the emotion comes first. Have you talked to anyone recently who has bought a new car? Well, ok, there aren’t too many examples out there at the moment but I spoke with two neighbours recently. Both said that the reason they bought a (fancy) new car was because they were getting such a rotten trade-in rate. Now that doesn’t make too much sense. That could be […]
2nd Secret – The Right Brain is the Right Way
Research shows that people need to engage with a product before they decide to buy that product. According to a recent posting by Jamie Turner in the 60 Second Marketer, when people engage with a product that event is stored in short term memory. However, if we can channel our communications to casino online the emotional side of the brain, this memory is stored in long term memory. Once you’re in […]
3rd Secret – People don’t always tell the truth to researchers
Looking at some recent research on Irish lifestyles, you can read between the lines when significant percentages of people claim to take exercise regularly and live a healthy lifestyle. They’re not being truthful to the researcher, but often they’re not even truthful to themselves. So if, for example, you’re offering activity holidays to people, they often imagine that for two weeks of the year they can get into camouflage gear […]