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Techniques To Retain Customers

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Techniques To Retain Customers

The “lifetime value of the consumer” concept is based on the fact that it is much more cost effective to keep a good consumer than to attract a new one. 

For large ticket items (automobiles) or items that require frequent purchase over time (breakfast cereals), the lifetime value of a consumer can be very high.  So, encourage young customers to buy your products and services.  This will help your business to remain healthy over time and to create a longer lifetime value of the customer.

Techniques for keeping good consumers include the following:

•    database marketing,
•    special services,
•    product customization,
•    personal touches,
•    legendary service,
•    communication that reinforces previously made purchases (especially to overcome post purchase anxiety and doubts for large ticket items),
•    programs that reward loyalty and heavy brand consumption, and
•    avoiding programs that encourage brand switching.

Can you think of others?

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  1. Anonymous - October 24, 2007

    Branding Strategy Insider: Techniques to Retain Customers

    The “lifetime value of the consumer” concept is based on the fact that it is much more cost effective to keep a good consumer than to attract a new one. What techniques can you employ to keep them?

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