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Customer Retention
Cathie Fowler
VP Marketing, Zones
Methods to Identify Your Best Customers
LifetimeValue
DecileRanking
RFM:Recency
FrequencyMonetary
WinGrowOwn
CustomerProfitability
and Potential
Customer Retention
1. Show Up!
2. Commercial Teaching
3. Layers of Engagement
4. Entanglement
Drivers of B2B Customer Loyalty
Long-Term Drivers Short-Term Drivers
> Highly variable> Actionable
% ofContributionto Customer
Loyalty 9%
Company Product Value to Purchaseand Brand and Price Experience
Impact Service RatioDelivery
19%
19%
53%
2. Impact the Purchase Experience
Commercial teaching:
Impart valuable information at each interaction “Educates me on new issues and outcomes” “Helps me avoid potential landmines” “Helps me navigate alternatives” “Provides ongoing advice or consultation” “Helps me quantify financial value” “Offers unique, valuable perspectives on the market”
3. Layers of Engagement
Number of people involved in purchasing decisions has increased in the last 4 years
Past: 3 primary contacts. Today: 12 people Increased role and influence of procurement
Influence mapping and leveraging advocates Standing, Coverage, Role in Oppty, Receptive to
Change
Increase connections internally and externally
Loyalty tends to be stronger when relationship is with end-user not “check-signer”
4. Entanglement
Provide a compelling value so that it becomes hard to switch
A “disincentive” to move your business Beyond loyalty program: airline points Banks offering online bill pay ZonesConnect
Enterprise-level order management
Custom reporting capabilities
Software Licensing management