Increase Customer Loyalty, Lifetime Value by Creating Defection Funnel

We are living in an age of distrust, fake news and uncertainty – and gaining trust is now even harder than before.

In business, building and retaining trust from your loyal customers is vital to ensuring a unified and successful business.

When it comes to customer management, it is all too easy to become narrowly focussed on the dollar value of your current customers, or on lead generation to get in new customers.

What businesses tend to overlook, however, are those existing loyal customers. Loyal customers are the best customers. Why? They buy more, they refer you, they promote you. They are what Jeanne Bliss calls a key “business asset.”

But while you are focused on lead generation, these existing customers may actually be on the verge of slipping away.

In this short video, I talk about tips to review your customer base that ensures you are valuing your entire customer base to build a successful unified business.

Find out about:

• - Why you should identify and nurture your existing customer assets
• - How traditional metrics undervalue the customer asset by looking solely at their dollar value and why looking at the quantity of a customer is also important
• - Why unified businesses need to look at and evaluate the whole of their customer base
• - Evaluating your existing customers by looking at their Customer Lifetime Value (CLV) but also the importance of creating a “Defection Funnel” to identify those “at risk” customers and non-customers
• - How valuing your customer base will “earn you the right to customer driven growth”

Important Mentions

• - Jeanne Bliss, Chief Customer Officer of Customer Bliss