Why customer retention is the new acquisition
If there's anything the recession of 2009 taught us, it was the
importance of investing in our customers, but when was this any
different? So says Joseph Jaffe, bestselling author of "Life After
the 30-Second Spot" and "Join the Conversation, " and a leading
expert and thought leader on new media and social media. In most
businesses, it costs roughly five-to-ten times more to acquire a
new customer than it does to retain an existing one, and yet
companies continue to disproportionately spend their budgets into
the "wrong" end of the funnel - the mass media or awareness
side.
What we haven't paid enough attention to is the "right" end of
the funnel-the word-of-mouth component that essentially acts as a
multiplier for future business. The economic impact of an active,
engaged and loyal customer is tremendous.
And the same is true of the opposite scenario, namely the impact
of angry customers and negative word-of-mouth or referrals. It is
this thinking that Jaffe has channeled to challenge marketers to
"flip the funnel" once and for all. With a renewed focus and energy
on customer experience, it is possible to grow your sales, while
decreasing your budget - in other words, getting more from less.
Engaging a few customers to spread the word to many.
Using this new "flipped funnel" model, together with a set of
new rules of customer service and a revolutionary customer referral
and activation process, you'll learn how to transform your existing
customers into your best salespeople. In addition, Jaffe will
explain how to best introduce and combine both digital and social
media tools to boost your loyalty arsenal, deploy "influencer
marketing" and implement word-of-mouth strategies that inspire your
loyal, opinionated, and most vocal customers to become credible,
persuasive, and influential endorsers of your products and
services.Explains how to cut your marketing budget AND grow sales
Illustrates practical ways to use existing customers to reach out
to new prospectsOutlines the authentic role of social
mediaDemonstrates key ideas with rich, real life examples including
Comcast, Apple, The Obama Campaign, Dell, Panasonic, American
Airlines, Delta Airlines, Johnson & Johnson, Coca-Cola and
many, many moreWritten by one of the most sought-after consultants,
keynote speakers, and thought-leaders on new marketing change and
innovation; renowned blogger and podcaster at Jaffe Juice
(www.jaffejuice.com) and host/presenter of web video show,
JaffeJuiceTV (www.jaffejuice.tv)
Visit www.flipthefunnelnow.com to join the conversation.
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