customer relationships 2

We already know that competition is fierce in every business sector. This drives smart business owners to add to their competitiveness in the market place. Successful businesses have created strategies to shield their current customers from their rivals. Apple is a good example of a brand that has earned the trust of their customers by turning them into raving fans. They offer more than a good product, they offer cool products! Their competitors offer comparable products at much lower price points, but in the eyes of Apple fans… they are not cool! Apple has created thick walls surrounding each of their fans – walls that are nearly impossible for their rivals to penetrate.

  • Research and discuss two examples of businesses that have developed strong relationships with their customers
    • What engineered strategies do they use to capture repeat sales from their loyal fans?
    • What CRM strategies do you think are most effective? Which should be avoided
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    • This article from Harvard Business School explores how the relationship between the customers’ loyalty and online presence is starting to change, using the methods of W.W. Grainger as an example.
    • This author shares 6 ways to avoid misreading customers. The ideas mentioned provide insight to types of customers, thinking individual and not group, false first impressions, offering options, what customers think, and customer loyalty.
    • This article reviews five customer retention tips for entrepreneurs: Never underestimate the value of retention, Implement an effective customer retention program, Avoid misreading the customers, Engaging customers through social media, and Running relevant promotions.