Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Most companies do everything backward in marketing and sales. They put 90% of their efforts into searching for new customers. Noah Fleming, the “Customer Retention Guy,” explains why you should focus instead on current clients – the folks who keep the lights on and the profits flowing. Fleming explains how to transition from “how-do-we-get-more-new-customers” to “how-do-we-better-care-for-our-existing-customers.” He offers practical tips on developing customer-loyalty programs and improving client-related service. getAbstract recommends this useful manual to the owners of small and midsize businesses, sales and service professionals, and marketing executives.

Summary

The Corporate Forest

Over the long term, successful companies resemble evergreen trees. Their customers are like the needles the trees hold throughout the seasons. These firms enjoy engaged, enduring customer relationships. In contrast, some 40% of companies are similar to deciduous trees: They shed customers like the leaves that fall every autumn. These businesses try to develop good customer relationships, but their leaders don’t know how. In a frustrating cycle, they try to recruit new customers to replace the ones that inevitably leave.

Some 30% of companies resemble barren trees with no sustainable customer relationships, and 20% are like wilting trees – their customers remain in place, but they lack a strong connection. These firms don’t develop customer relationships; they just sell. Make your company one of the 10% that are evergreen. They stand strong against economic storms and produce profits year-round. They focus on building and sustaining strong customer ties. Their clients remain loyal and enthusiastic.

The New-Customer Myth

In 2011, Need a Cake, a small local bakery in Reading, England, became internationally famous when its Groupon promotion...

About the Author

Noah Fleming blogs for Fast Company magazine and contributes to The Globe and Mail. He is a thought leader in strategic marketing and customer loyalty.


More on this topic

Customers who read this summary also read

Virtual Selling
9
Storynomics
8
Why Customers Leave (and How to Win Them Back)
8
Effective Sales Enablement
8
The Forever Transaction
9
The Relationship Economy
7

Related Channels