Why Customers Churn Rate Matters

Why Customer Churn Rate Matters

Why Customer Churn Rate Matters:- Customer Churn and Retention - In marketing, we spend tons of your time trying to draw in new customers, but it is also important to understand what percentage of customers you would possibly be losing.   So, we're gonna discuss the churn rate. Unfortunately, not all customers are loyal . Sometimes, no matter how hard you try, some customers decide to move on to another company and its product. Knowing what percentage of customers you lose to the competition, versus what percentage you keep will help inform your marketing strategy and should even guide your product and pricing strategy. Your customer churn rate refers to a percentage of customers that your business loses over a specific period of time. And the way to figure that out is pretty straightforward. So to understand your customer churn rate , you take the number of customers lost over a time period over the number of active customers at the start of that time period. So for

The Ultimate Guide Of Customer Loyalty Program

The Ultimate Guide Of Customer Loyalty Program:- Customer Loyalty Program   The referral program can either give them a discount on their next purchase or they can get a bonus on their next purchase . Again, same as the points   loyalty program you want to keep your referral program unchanged. One of the best ways to lose customers? Is to change things on them without notifying them, Increasing Customer Loyalty  okay? So do the math beforehand. Make sure your budget will cover the cost of the referral loyalty program  even if it's through discounts, or bonus material, whatever you're giving them. Another way of getting your customer coming back for more with the   loyalty rewards program is what I called daily specials. this is a super fun way to keep your customers coming back for more because they had this little piece of excitement to look forward to every day through Five Stars Loyalty Program So you can use this

The Last Method Magic - Customer Service

THE L.A.S.T METHOD MAGIC - CUSTOMER SERVICE:- Magic Method's - I'm going to teach you a very, very important thing for customer service. I want to work in customer service , and this is often actually one of the foremost important things I learned, and this is named the L-A-S-T or LAST approach.  Special Method -So, to get started, let's talk a little bit about: What is customer service? So, customer service is once you have customers, of course, and you're trying to form your customers as comfortable and happy as possible. You're also trying to satisfy their needs and expectations, and solve any problems or situations that they may need.  So, Magical Customer Service is a huge category. There are many, many different jobs where you employ Magical Customer Service. If you're employed during a hotel, for instance, as a clerk, you know, within the lobby, as a bellhop, you'll be using Magic Customer Service . If you work at a restaurant

How To Market Your Restaurant On Social Media In 2020

How To Market Your Restaurant On Social Media In 2020:- Social Media Branding :- Hey guys, welcome back to the ABs Hospitality Academy. Today we're going to be going over the four ways to market your restaurant on social media in 2020.  So many of you guys have already been on that Social Media train, so congratulations to that because a lot of people actually don't see the value. Just in the last two, three years, people don't see the value in posting on social media because there's no direct ROI.  There is no direct association with you putting in a dollar on ads. You put a dollar on investing in your brand on social media and how much you get back. You don't know, which is the reason why a lot of people don't do that, but today people are waking up. People understand the importance of Social Media Marketing . That's the reason why people are spending thousands of dollars hiring Social Media Talks , people to take pictures of them,

Customer Focused Organisation Vs Operations Focused Organisation

Customer Focused Organisation Vs. Operations Focused Organisation:- Hi There! welcome to Abs Hospitality academy, Customer Service and Experience Expert and on this post I'm going to discuss six differences between  customer-focused companies and operations-focused companies. Some companies really understand customer service. They know how to hire for it, train for it, and deliver it. Other companies claim to give customer service but in reality, they are grounded in an operations mentality with rules and policies that allow for little flexibility, preventing them from being anything more than just average or satisfactory. Here are a few observations of the differences between  customer-focused companies versus operations-focused companies :Empowerment:   A customer-focused company empowers employees to make decisions that are for the benefit of the customer. They have guidelines versus rules and take the approach that if it isn't illega