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How to Innovate in Marketing (Collection), 2/e by Tony Davila, Robert Shelton, Joan Kiddon, Larry Light, Michael Tasner, Monique Reece, Marc Epstein

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46. Customer Strategies

“People have become relatively immune to messages targeted at them. The way to reach your customers is to create an experience with them.”

Successful companies have strong, focused customer strategies for retaining and growing the customer base they worked so hard to build. As we discussed previously, the best way to know if you are satisfying customers’ needs, wants, and expectations is to ask them. Ongoing periodic surveys, advisory group discussions, and other means of engaging customers in a dialogue will help you stay on top of customer preferences.

Data analysis will help you understand the frequency and total value of customer purchases, customer retention rate, percentage of customer “wallet share,” customer delight ...

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