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Service Marketing PPT Script

Customer retention is important for businesses for several key reasons: 1. Loyal customers purchase more regularly and in greater quantities, providing repeat business. They also feel more comfortable making requests to businesses they already trust. 2. Retaining existing customers reduces marketing costs since those customers already know the business and its offerings. 3. Satisfied customers provide positive word-of-mouth advertising to friends and family about a business's quality products and services. 4. Retained customers are less price sensitive and willing to pay more for a business that solves their problems well. 5. Loyal customers can also provide valuable feedback to help a business improve.

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Suresh
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94 views2 pages

Service Marketing PPT Script

Customer retention is important for businesses for several key reasons: 1. Loyal customers purchase more regularly and in greater quantities, providing repeat business. They also feel more comfortable making requests to businesses they already trust. 2. Retaining existing customers reduces marketing costs since those customers already know the business and its offerings. 3. Satisfied customers provide positive word-of-mouth advertising to friends and family about a business's quality products and services. 4. Retained customers are less price sensitive and willing to pay more for a business that solves their problems well. 5. Loyal customers can also provide valuable feedback to help a business improve.

Uploaded by

Suresh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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So I will talking about customer retention

Customer retention is basically when a firm turns its customers into repeat buyers by several
techniques and don’t let them go to their competitors It basically means the firm uses several ways
in order to keep the existing customers it has to stick to their products it may be for eg by using
techniques like giving discounts or several offers

Next Slide

Now we will see 5 reasons why customer retention is essential

1 Repeat Purchase - So Loyal customers purchase more regularly and in greater quantities. They
know THAT YOUR small business can provide products and services they want and As a valued
customer, they feel your business is more likely to listen to their requests and provide superior
service than other businesses that offer similar offerings.

2. Reduced Marketing Costs – As the customers you have already know about your business and
products you offer marketing expenses such as brand awareness and advertising your product are
reduced

3 word of mouth advertising - as the customers who are loyal to you know about the good quality
of services and products you give they will tell their friends and family about you also Customers
feel good telling people about quality service they received or a product that
makes their life easier
4 . Less price sensitive – So Retained customers are not as price-conscious; they
are aware your business provides solutions to their problems and are often
prepared to pay a premium
5. Providing valuable feedback - Customers that your business retains these
customers provide valuable feedback. As these people make frequent
purchases from your business and also they are aware of areas that could
be improved also by asking customers questions like how can the business
serve them more effectively can help a lot opening to a lot more
opportunities
Next slide
Now i will talk about how to improve customer retention
So in order to improve customer retention we have to do a lot of things like
setting customer expectations these expectations need to set early and a
little lower than you can provide inorder to eliminate uncertainty about the level of
your service and ensure you always deliver on your promises also You need to be
the expert in your particular field, so that you can gain customers’ trust and build
customer loyalty also using social media tools like linkedin and facebook to
connect and communicate with the customers and making sure they share the
experience with your company also it is important to pay attention to the customers
needs and issues in order to build long term loyality and strong relationships with
the customers also nowdays personalized services improves customer
experience and its something which the customers are demanding

That’s it from our side thank you

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