The Foundations of Customer Acquistion The Importance

Customer Retention - Common acquisition

- Customer retention can be
enforced in two main ways:
excellent customer service
and rewarding loyalty
programs.
Customer Service
- Extraordinary customer
service is essential to keep
customers and to run a
techniques quickly become
of Customer
very expensive. Retention
- Companies can spend too
much on bringing in new
customers, potentially
leading to losses.
- Consider focusing on
maintaining current
customers instead of
bringing in new ones.

successful business.

- Some restaurants, like Chick

Fil A, thrive mainly because
of great customer care
(Pignataro).

- Focus resources on
improving customer service
and building connections
with customers. Encourage
managers and employees to
help out in any way possible.
Loyalty Programs Data Analysis
How often do you use restaurant loyalty programs?
- Loyalty programs that -Nearly a quarter of people
provide discounts to Almost Never Rarely Every Month Weekly surveyed use loyalty
recurring customers are the programs every week,
other pillar to success. leading to higher profits.

- Targeted discounts through -Over 90% of customers

22%
these programs can be surveyed stated that
expensive, but they are customer service is
44%
effective. important to them.

16%
- In certain industries, like
Conclusion

airlines, frequent flyer

programs have led to an
increase of profit margins of
up to 400% (“Forsake All
Others; Loyalty Schemes”).
- Starting a loyalty program
with discounts for
customers is a good way to
connect with them and
increase profits.
19% -In order to retain customers
to increase profits, focus on
improving customer service
How important is customer service? and provide special offers to
(Scale of 1-5 with 5 being the most loyal customers.
important.) Rating
20
-Focus more resources on
20 18 leading current customers
to spend more rather than
15
attracting new customers.
10 Use these strategies to
increase profits.
5 3

0 1 -
0
1 2 3 4 5