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Customer Service

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What can a company do to acquire and retain new customers?

If a company has established a corporate or organizational goal to establish and maintain customer focus, how might customer relationship strategies be established and executed?

What role might the Internet play in an organization's customer retention initiatives?

How can the Internet contribute to enhancing customer satisfaction (and thereby influencing customer loyalty) for an organization that delivers the majority of its customer experience in an online environment? (Content)

I need help with these questions. I need ideas and suggestions. Thank you.

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Hi,
Let's take a closer look through discussion and example. I have provided many examples, so please keep what fits. I also attached an excellent article on retention for you to consider.
1. What can a company do to acquire and retain new customers? If a company has established a corporate or organizational goal to establish and maintain customer focus, how might customer relationship strategies be established and executed?
2. What role might the Internet play in an organization's customer retention initiatives?
3. How can the Internet contribute to enhancing customer satisfaction (and thereby influencing customer loyalty) for an organization that delivers the majority of its customer experience in an online environment? (Content)
NOTE: This does not have to be really detailed, just a few paragraphs.
No files attached.
Bid Credits: 2 Deadline: November 15, 2006, 2:05 pm

1. What can a company do to acquire and retain new customers? If a company has established a corporate or organizational goal to establish and maintain customer focus, how might customer relationship strategies be established and executed?

Everyone wants to retain his or her existing customers. Few companies, however, are implementing positive strategies aimed at retention. Most companies are organized for acquisition. Acquisition is done through advertising and sales programs, which are designed to find and promote their products and services to new customers. The companies are OFTEN organized on a product or brand basis, not on a customer segment basis. (1) However, many companies constantly look for ways to expand their pool of profitable customers, with the ultimate goal of optimizing each customer's lifetime value (LTV). (3)

For retention of new customers, customer service departments and a customer service toll free number helps, but they also need an integrated marketing strategy that is directed at retention, and that defines retention as the measurement of success. You have often heard it said that "It is five times more profitable to spend your marketing dollars to retain the customers that you have than to use the dollars to beat the bushes for new customers." (1) However, even though it's more expensive to acquire a new customer than it is to retain an old one, in an ideal world, you'd be able to do both. (2)

Lets' look at two examples.

Strategies

Most companies constantly look for ways to expand their pool of profitable customers, with the ultimate goal of optimizing each customer's lifetime value (LTV). The key to improved customer acquisition and retention is gathering and analyzing all your customer data in order to understand customer behavior and develop more effective marketing strategies. It can help acquire high-potential customers and gain a complete picture of their behavior at every touch point—one that ...

Solution Summary

This solution responds to the questions related to aspects of customer service in some detail. Supplemented with an article on customer retention strategies.

$2.19