Tag: repeat business

Customer Engagement

What the hell is RoE?

Today, I read the blog post by David Johnson titled – “Forget About RoI, start thinking about ROE”. The title intrigued me and I read his post. Basically, he argues that it is time we started thinking about customer engagement in terms of Return on Experience rather than the traditional RoI. His idea is to find ways to “Enchant” a few customers while dealing with them, thus providing enough fodder for them to start talking about their great experience online (and offline). I think this is a great idea for any organization that serves consumers. He argues that if an organization starts […]

Strategy

Fueling growth from existing customers

It is a well known fact that it is much more expensive to acquire a new customer than retaining an existing customer. But as they say, common sense is not so common. We find that businesses are going out of their way to attract new customers by offering them great deals. I do not think there is anything wrong in this, but when you exclude the offer to your existing customers, you are inviting trouble.  This is a very important reason for customer loyalty to become so rare. There does not seem any  benefit for customers to remain loyal anymore as […]