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Thursday, February 24, 2011
Sunday, February 20, 2011
"How much free, WOM advertising is too much?" Customer loyalty drives WOM advertising. If your Customers are engaged in great CS experiences, they will most likely repeat business, and spend more overall money with larger transactions. What part of that don't you like as a business owner? So, I ask you, "how much free WOM advertising is too much?"
CITYSUMERS | The hundreds of millions (and growing!) of experienced and sophisticated urbanites*, from San Francisco to Shanghai to São Paulo, who are ever more demanding and more open-minded, but also more proud, more connected, more spontaneous and more try-out-prone, eagerly snapping up a whole host of new urban goods, services, experiences, campaigns and conversations. Are we ready?
Did you know that the cost of acquiring a new Customer and putting them in your Customer data base generally runs 2 to 4 times the annual cost of retaining an existing Customer. In short, if you do not have a strategy in place for enhancing Customer loyalty, you are shooting yourself in the foot in terms of your restaurant's overall success. Take care of existing Customers and they'll take care of you!
What have you done this month to enhance your Customer loyalty? Have you done anything to enhance employee retention and satisfaction? A restaurant with a high employee turnover rate has more difficulty maintaining a strong personal relationship with it's Customers - without it...forget about it! Let's add bread and butter to your menu, because Customer loyalty is your bread and butter! Contact me!
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