Customer Retention Archives - Page 2 of 5

Is your company too hard to deal with: how do you know?

It always amazes me the trouble companies go to secure new customers and then just throw them into a bucket labelled “Customer”, never looking at them again.

Well that bucket has a lot of leaks and companies are themselves the ones hammering in the holes. Many times you can improve customer retention by just plugging a few of those holes. Here is a recent case in point.

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Adam Ramshaw

Adam Ramshaw has been helping companies to improve their Net Promoter® and Customer Feedback systems for more than 15 years. He is on a mission to stamp out ineffective processes and bad surveys.

Interactive Marketing: the 7 Critical Factors you need for success

By Adam Ramshaw 2 Comments

Interactive marketing is a relatively new feature on the marketing and customer management landscape. It is only with the relatively recent advances in software tools that this dramatically more effective way to market to prospects and customers has come within the reach of most organisations.

And be assured that interactive marketing (also called trigger or event based marketing) can drive dramatic results: conversion rates of 45%, 35% reductions in direct marketing costs are just the tip of the iceberg.

However, to be successful there are seven critical success factors that you need to consider. [Read more…]

Adam Ramshaw

Adam Ramshaw has been helping companies to improve their Net Promoter® and Customer Feedback systems for more than 15 years. He is on a mission to stamp out ineffective processes and bad surveys.

Forecasting customer value when you don’t have a contract: Discrete transactions

By Adam Ramshaw 3 Comments

This post is one in a series in which I summarize into actionable steps parts of the substantial body of work by Peter Fader, Bruce Hardie, et. al. in the analysis of customer bases. The relevant source papers are referenced at the end of the post.

In this post, we will focus on the bottom left quadrant of the Fader/Hardie customer relationship map (as I will refer to it). We will be examining situations where there is no on-going contract between the supplier and the customer and where the customer can only purchase at discrete time intervals.
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Adam Ramshaw

Adam Ramshaw has been helping companies to improve their Net Promoter® and Customer Feedback systems for more than 15 years. He is on a mission to stamp out ineffective processes and bad surveys.

Calculating Retail Sales Forecasts, Customer Life Time Value, and other customer variables

By Adam Ramshaw 3 Comments

This post is one in a series in which I attempt to summarize into actionable steps parts of the substantial body of work by Peter Fader, Bruce Hardie, et. al. in the analysis of customer bases. The relevant source papers are referenced at the end of the post. The details of the statistical models are deliberately excluded from this summary but can be reference in the source papers.

In this post, we will focus on the top left quadrant of the Fader/Hardie customer relationship map (as I will refer to it) . [Read more…]

Adam Ramshaw

Adam Ramshaw has been helping companies to improve their Net Promoter® and Customer Feedback systems for more than 15 years. He is on a mission to stamp out ineffective processes and bad surveys.

4 Practical Approaches to Calculating Customer Lifetime Value

By Adam Ramshaw 2 Comments

Recently, I came across a very useful Marketing Science article on customer lifetime value calculations. “Customer Base Analysis in a Discrete-Time Non-contractual setting,” presents an excellent and accessible way of answering the difficult question of customer lifetime value when no ongoing contractual relationship exists.

The paper itself was enlightening. Unfortunately, as is often the case with academic papers, the key business insights are hidden from plain sight behind a rather dense, high order, statistics heavy paper. I am sure their findings are as clear as glass to the authors. However, for me, I needed some time to unpack the content, understand it, and work out how to apply it for my customers. [Read more…]

Adam Ramshaw

Adam Ramshaw has been helping companies to improve their Net Promoter® and Customer Feedback systems for more than 15 years. He is on a mission to stamp out ineffective processes and bad surveys.

Is your company too hard to deal with: how do you know?

Interactive Marketing: the 7 Critical Factors you need for success

Forecasting customer value when you don’t have a contract: Discrete transactions

Calculating Retail Sales Forecasts, Customer Life Time Value, and other customer variables

4 Practical Approaches to Calculating Customer Lifetime Value

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