AftermarketingSM
Marketing really has two sides or components: finding and winning-over new customers (conquest marketing) and retaining current customers (retention marketing). Since the birth of mass marketing, practitioners seem generally to have lost sight of the importance of retention activities. Instead, all efforts are directed at gaining market share by attracting an ever-growing customer franchise. In this scenario, current customers tend to be taken for granted. Failing to feel acknowledged and appreciated they slowly attrit to competitors, hoping for better treatment.
Today, marketers have begun to realize the efficiencies of keeping current customers. Indeed the CRM industry has been founded on these goals. Unfortunately far too many CRM initiatives have lacked an underlying understanding of customers’ needs and a strategy directing their activities. Instead, they have mostly been about installing new, expensive computer hardware and software. These initiatives have largely been economic and operational disasters for many companies.
Ipsos Loyalty, having written one of the first books in the CRM movement (Aftermarketing), has been an early advocate of establishing customer relationships and related business strategies before buying the enabling hardware and software. Our Aftermarketing practice includes a whole suite of products and offerings geared to helping clients understand what their high-value customers uniquely value and then creating strategies and tactics that build loyalty and stimulate positive word-of- mouth. We concentrate on managing customer relationships based upon the customers' needs and calendars rather than the corporate schedule. One way we accomplish this is by applying the Aftermarketing Purchase Cycle. And Ipsos Loyalty always models the financial payback of the CRM programs we develop–both through pre-market pro-forma models and in-market control cells. Ours tools include:
- Loyalty IndexSM measurement
- Customer registration programs
- Win-back programs for lost customers
- Word-of-Mouth BarometerSM measurement
- Lost Customer Studies
- Share-of-Wallet analysis
- Strategy and tactics development
- Onsite retention marketing training programs
» Download the AftermarketingSM pdf.
