by Sam Klaidman | Mar 11, 2013 | Growth
Why customer churn is a huge deal If you have P&L responsibility, how does customer churn impact your bonus? If you are a multi-product and product + services company, how important is it to know which products or services are no longer being purchased by...
by Sam Klaidman | Feb 25, 2013 | Growth
When I think about customer retention, I think about how we treat our customers. Social media and instantaneous communication mean we all want to be treated as individuals. We hit delete when we see a Dear Sir/Madam email salutation. And yet, we all know and abide...
by Sam Klaidman | Feb 18, 2013 | Growth
About 80% of revenue and profit for most businesses comes from existing customers. For start-ups and fast-growing new businesses, this obviously is not the case. And for many established businesses in slow-growing segments, the percentage can be well over 80%....
by Sam Klaidman | Feb 11, 2013 | Customer Loyalty
Nowadays, every business seems to focus on customer loyalty by measuring and managing their Net Promoter Score®. Individuals at all levels receive a bonus to improve their results every month, quarter, or year. Business units are going down the polo shirt and coffee...
by Sam Klaidman | Jan 21, 2013 | Growth
Note – Although this post is about B2B businesses, there are many B2C’s with the same challenge. In the B2B world, there are two broad categories of products; software and hardware (usually including software); services are unique and typically ongoing, so there...
by Sam Klaidman | Jan 17, 2013 | Growth
While this sounds like a simple question, it should provoke several thoughts that will help you get your arms around this concept, which is critical to the long-term growth of a business. Let’s start with Wikipedia. It defines customer retention as the activity...
by Sam Klaidman | Jan 14, 2013 | Growth
The importance of creating a competitive advantage In today’s business climate, the only way to grow is to offer your customers more value than your competitors. There are two ways to accomplish this objective: 1) Lowest price and 2) Differentiation based on...
by Sam Klaidman | Jan 3, 2013 | Growth
To maximize organic growth, businesses must acquire new customers and get existing customers to stay with them and buy more products and services. Sounds simple. If it were, though, we wouldn’t hear so much about businesses declaring bankruptcy or planning layoffs....
by Sam Klaidman | Dec 27, 2012 | Customer Loyalty
The growth engine for most businesses is a combination of repeat customers and referrals. Unfortunately, satisfied customers generally do not make referrals. They are easily switched to a new supplier by lower price, better (more convenient) location, coupons, or even...
by Sam Klaidman | Dec 26, 2012 | Customer Loyalty
In December 2012, I wrote a blog post about the need to exceed your customer’s expectations. Since then, I have studied a lot about customer experience (CX) and its impact on business results. To that end, I recently read a very insightful Accenture article that...
