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Today, trust is the basis for every business exchange and all customer behaviour. Creating customer loyalty puts customer value, rather than maximising profits and shareholder value, at the center of business strategy.
Use social competencies to establish trust and customer value. These include:
Sources: Santa Clare University (2015), The Role of the CEO in Building an Ethical Organization [online], Oct 2; M. Nicoles (2006) Five Ways to Build customer Trust, Bloomberg [online], August 3; M. Adams (2014), Three Ways To Build Customer Trust, Forbes [online], April 22.
Use the check points above to look at where you are in the overall quality of customer relationship. Turn to the back to find an applicable and systematic understanding of the three components of trust.
Customer-driven strategy is an essential business philosophy that all organisations should embrace. The concept provides a detailed summary of the key elements of customer-driven strategy and offers critical implementation advice and success factors.
Loyalty Management can be summarised as a series of activities aimed at better serving customers. The concept explores the ways in which companies can acquire, engage and retain their customers and reviews the relationship between customer retention and the other aspects of the business.
This technique explains what Customer Relationships management (CRM) is, what benefits it can deliver, within which contexts it can be used, how it can be implemented and how CRM technologies can be deployed to support customer management strategies and objectives.
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