Ensuring your loyalty programme really delivers can pay result in big rewards for your business. A study by Bain and Harvard Business School has shown that just a 5% improvement in customer retention can increase profit by up to 95%. However, it’s not enough to just have a loyalty programme, you need a process that is built on understanding your
Attracting new clients is often high up on the list of priorities, setting goals can be an extremely powerful technique for achieving success in business and indeed in life as a whole and is an essential part of success, providing focus and encouraging us to keep striving on a day to day basis to achieve those goals. The following tips
In one of our recent blogs we covered the statistic that 70% of customers take their business elsewhere due to poor customer service. This got us thinking - what is more important for a business: sales or customer service? Clearly, generating sales is vital for any business. Unless you are running a business for the good of your health, or
Research has found that 70%* of customers who take their business elsewhere leave due to poor customer service. This statistic should be enough to make any business take a step back and review the level of customer service they provide. We all know that gaining new clients is a difficult, time consuming and often costly task. In fact, statistics generally
Wishing you a Merry Christmas & a Prosperous New Year From all the team at Aspect Market Research we look forward to seeing you in 2016 Image source: https://www.flickr.com/photos/dullhunk/6466237773
In this day and age, customer loyalty isn’t what it used to be. That isn’t to say that customers are necessarily more fickle. There is just so much more choice than before – especially as modern communications mean businesses no longer have to be on customers’ doorsteps to be able to service them. Top this with the sheer number of
You are likely to have heard the phrase “you never get a second chance to make a first impression”. While often applied to situations like interviews, or personal settings i.e. meeting the in-laws for the first time (eek!); the same sentiment is also important when it comes to marketing. In today’s world we are constantly being bombarded with an average
People often say that brands and the reputation they convey are difficult to value and some even dismiss them as worthless `froth’ that distracts from the hard metrics of profit and sales. The case of Volkswagen and the emissions scandal shows a hard-learned lesson on the real value of a brand. The company’s share price dropped by 35%, wiping around
There have been many occasions where we have seen a seemingly unprecedented amount of money spent on a marketing campaign. Anything from using a celebrity endorsement to gimmicks, TV adverts and everything else that goes alongside a typical ad campaign including a PR and the use of social media. But the one thing that demonstrates a campaign’s success and a return
There are many factors that influence consumer behaviour. They are swayed by family & friends, their social and societal environment as well as cultural trends. Ultimately, these factors work on deep-seated emotional needs – what the psychologist Maslow described as the need for self-esteem. Companies spend billions of dollars annually studying what makes consumers `tick’. Although you might not like
