1. CUSTOMER LOYALTY List characteristics of loyal customers
Lesson 1.3
9/13/2018
LESSON 1.3
CUSTOMER LOYALTY
List characteristics of loyal customers
Describe the benefits to companies of building a loyal customer base
CUSTOMER SERVICE

2. The Value of Loyal Customers
1.3
The Value of Loyal Customers
Satisfied customers and loyal customers are not the same.
Loyal customers do the following:
Purchase repeatedly from a company
Tend to buy a variety of items or services
Refer others to the seller
Believe that what they buy is worth what they pay
Know the company’s policies and procedures
Don’t stop buying even if the company has small price increases

3. Turn Satisfied Customers Into Loyal Customers
Lesson 1.3
9/13/2018
1.3
Turn Satisfied Customers Into Loyal Customers
Exceed a customer’s expectations
Provide the best possible services
Listen to what the customer wants and needs
Respond as needed
CUSTOMER SERVICE

4. Retaining Loyal Customers
1.3
Retaining Loyal Customers
During a poor economy
The lure of the Web
Cellular One case study

5. The Dollars and Sense of It
1.3
The Dollars and Sense of It
Keeping customers happy makes good business sense.
Lowering defections by 5% can increase profits by as much as 85%.
Acquiring new customers costs 5 to 10 times more than keeping existing customers happy.
The 20/80 rule—20 percent of a company’s customers generate 80 percent of the company’s profit.
Canon U.S.A. case study
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