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Ch 2: Strategies for Increasing Customer Retention

About This Chapter

A key goal of any business is to acquire and maintain long-term customers. The lessons in this chapter are designed to offer your employees strategies for building stronger customer relationships and increasing customer retention.

Strategies for Increasing Customer Retention - Chapter Summary

As a part of your corporate training, you can have your employees watch these fun video lessons that closely examine strategies for increasing customer retention. This chapter teaches:

  • The meaning of customer value
  • How to set and exceed customer expectations
  • Tips for maintaining communication with customers
  • Ways to improve customer loyalty programs and incentives
  • How to improve customer relationships with automated process and social media
  • The value of the customer complaint

You can use the video lessons as a group training tool or have your employees watch the videos individually on their desktops, laptops, tablets or smartphones. After completing the lessons, employees can take self-assessment quizzes and a chapter exam to gauge their comprehension of the concepts.

How It Helps

  • Educates employees: This chapter examines the customer-focused approach to business, which helps your employees ensure they always work with the customer in mind and provide efforts to keep your customers satisfied.
  • Improves business model: By learning how to enhance automated processes, communications and other tools, you have the opportunity to improve your entire business model, which can retain customers and increase your profitability.
  • Increases visibility: The lessons help you create a bigger presence through loyalty programs, incentives and social media, increasing your visibility and growing your customer base.

Skills Covered

Completing the lessons in this chapter will ensure your employees are able to:

  • Describe how consumers use customer value to make buying decisions
  • Explain ways to set and meet appropriate customer expectations
  • Outline strategies for maintaining communication with customers as a retention strategy
  • Identify ways to use customer loyalty and incentive programs to reward existing customers
  • Describe how to use automated processes to increase customer loyalty and retention
  • Explain strategies for using social media to build and retain customers
  • Detail why the customer complaint is a gift to any business

7 Lessons in Chapter 2: Strategies for Increasing Customer Retention
Test your knowledge with a 30-question chapter practice test
What is Customer Value? - Marketing & Definition

1. What is Customer Value? - Marketing & Definition

In this lesson, we will learn the meaning of customer value and discover how consumers use customer value to make buying decisions. We'll also learn why companies must establish and maintain a high customer value for their products and services.

Setting & Exceeding Customer Expectations

2. Setting & Exceeding Customer Expectations

There are four key ways to set and exceed customer expectations. By following these recommendations, you can have loyal, happy clients who feel your business exceeds their expectations every time.

Communication Tips for Customer Retention

3. Communication Tips for Customer Retention

Customers who receive attentive, high-quality customer service are more likely to continue to do business with that company. This lesson discusses the importance of communication as a technique to retain customers, strategies companies can use for communication, and the benefits of each strategy.

Implementing Customer Loyalty Programs & Incentives

4. Implementing Customer Loyalty Programs & Incentives

In the competitive marketplace, it can be difficult to build loyalty with customers and keep them coming back to your business. Implementing a customer loyalty program and offering incentives can help build your repeat business.

Improving Customer Service With Automated Processes

5. Improving Customer Service With Automated Processes

Technology has made it easier for businesses to simplify processes in customer service. This lesson will take a look at the use of these automated processes, and their effect on customer service and the overall business.

Using Social Media to Build Customer Relationships

6. Using Social Media to Build Customer Relationships

Social media is a great way to build customer relationships. In this lesson, learn how you can use social media to engage with your customers, and provide a way for them to engage with you, all the while building strong relationships.

Understanding the Value of Customer Complaints

7. Understanding the Value of Customer Complaints

This lesson will discuss the value of customer complaints to improve products or services for consumers. We'll discuss ways to implement changes to retain customers.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the Improving Customer Satisfaction & Retention course

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