Scribd
Upload
5 views8 pages

Customer Retention Strategies Overview

This document discusses customer information and retention. It explains that information provides meaningful data through customer answers to questions. Collecting information is difficult, time-consuming, and relies on professional surveys. Data are facts about customers that can be quantified, like demographics and purchase history. Data should be accurate and checked regularly. Customer information is stored in databases that must be managed ethically according to legal guidelines regarding access and use. Tools for gathering customer information include reports, point-of-sale systems, and employee observations.

Uploaded by

Puneet Kanwar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
5 views8 pages

Customer Retention Strategies Overview

This document discusses customer information and retention. It explains that information provides meaningful data through customer answers to questions. Collecting information is difficult, time-consuming, and relies on professional surveys. Data are facts about customers that can be quantified, like demographics and purchase history. Data should be accurate and checked regularly. Customer information is stored in databases that must be managed ethically according to legal guidelines regarding access and use. Tools for gathering customer information include reports, point-of-sale systems, and employee observations.

Uploaded by

Puneet Kanwar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd

MODULE - 4

CUSTOMER RETENTION
INFORMATION
 Answers received when you ask a customer
“why” or “how”.
 Information makes data meaningful , gives a
clear and accurate picture .
 Collecting information is a very
 elusive
 expensive
 patient
 time consuming process
 Information gathering depends largely on a
survey .
 Must be done by professional surveyors/
agencies and right analysis of the same .
 Information must be reliable through a reliable
source and pertaining as close to the topic as
possible .
DATA
 Any fact about your customer or customers that
you can attach a number to.
 Typical data are:
Income, Years as a customer, Average
Purchase, Education level, Age, Telephone.
 It can be easily collected or bought form different
data agencies.
 Must be checked for accuracy and time gap .
Managing Customer Information
(Ethics and Legalities of Database)
 A storage place for data that allows you to
quickly refer to the needed numbers and often
allows you to pull out subsets from those
numbers .
 It is often computerized.
 It does not contain Information.
 Must take into account as little projections as
possible .
 Who will be responsible for allowing access to
the database and for deciding what’s on it .
 Different access for different people .
 Also assign somebody for generating
concerned reports.
 How much will you tell your employees about
how the information will be used / what
information and where to be used .
 Managers must be concerned with
information / results not sources .
 Accuracy is always preferable .
 Keep your employees updated but no need to
keep them well informed
Checklist of information about
customers
 How long have they done business with you.
 What do they like the most about you.
 Where do they feel you can improve on.
 How often do they repeat their purchase.
 Which of your competitors do they also do
business with.
 What features / strategies / components of the
competitors do they like the most .
 What is the major concern in a product for your
customer .
Tools for Capturing Customer
Information
 Government Reports
 Private Reports
 Trade Associations
 Point Of Sale
 Employees (Front Line / Sales)

You might also like