Archive for July, 2015

Importance of Customer Retention

July 31st, 2015
Steven Howard

Many organizations place a great deal of emphasis on attracting and gaining new customers. While this is important, I feel it is more important to place an even higher emphasis on retaining and keeping your current customers. This is particularly true in saturated markets and industries, where your customers have many, many alternatives available to them. Numerous research studies have shown that if you can reduce your attrition rate….that is the annualized rate …

Taking Care of Customers

July 29th, 2015
Steven Howard

I was in Melbourne one year attending a major meeting of the Australian and New Zealand banks that issue MasterCard credit cards and Maestro debit cards. Mr. Nicholas Utton, Chief Marketing Officer of MasterCard International at the time, had one key message for this audience of senior bankers concerning customers: “If we don’t take care of our customers, someone else will.” That’s worth repeating….and reflecting on: “If we don’t take care of our …

A Passion For Customers

July 28th, 2015
Steven Howard

Create customer intensity everywhere. That was the message Lew Platt communicated to his employees when he was CEO at Hewlett-Packard. And that’s the message you should be communicating to your staff, colleagues, and business partners. Customer intensity should be the core of any customer-focused organization. Personally, I have experienced this only once in my professional working career, when I joined the retail banking division of Citibank in Singapore in 1989. At that time, …

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