Developing a Customer Loyalty Business Plan
Peter Drucker was quoted as saying, “The function of business is to attract and maintain customers.”One should add in order to make a profit or to be financially viable. Let’s suggest that within these combined statements there are three concepts to be explored:
There is a distinct difference between customer loyalty and customer satisfaction.
Customer loyalty depends on providing the customer with perceived value and a positive emotional experience at every point of connection.
Within any profitable marketing plan there are more than the four P’s (price, promotion, product/services, and place) to be considered. Customers need to get what they want and come back for more for a business to achieve long term success.
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The Strategic Plan That Never Happened
Maybe you are a business or a non-profit that completed writing a strategic plan within the last one to two years. You spent many hours with your board of directors or management team carefully crafting the wording within each step of the process. Maybe you used a consultant or let a team member lead the discussion. Everyone felt good about the completion of the document, but a year later the status quo continues. What happened?
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Making the Strategic Plan Work
The Non-Profit Board
Having worked with and been a part of several non-profit boards of directors, we have observed both well-functioning and dysfunctional groups. Please understand that in every case they were made up of intelligent and well-meaning people. Many of them have worked long and hard in writing a strategic plan. But once completed, it often becomes only an agenda item at the next annual retreat.… Read the rest