Flip the Funnel (eBook)

How to Use Existing Customers to Gain New Ones

Joseph Jaffe (Autor)

eBook Download: PDF | EPUB

2010
John Wiley & Sons (Verlag)
9780470591260 (ISBN)

Infos

Why customer retention is the new acquisition

If there's anything the recession of 2009 taught us, it was the importance of investing in our customers, but when was this any different? So says Joseph Jaffe, bestselling author of Life After the 30-Second Spot and Join the Conversation, and a leading expert and thought leader on new media and social media. In most businesses, it costs roughly five-to-ten times more to acquire a new customer than it does to retain an existing one, and yet companies continue to disproportionately spend their budgets into the 'wrong' end of the funnel – the mass media or awareness side.

What we haven't paid enough attention to is the 'right' end of the funnel-the word-of-mouth component that essentially acts as a multiplier for future business. The economic impact of an active, engaged and loyal customer is tremendous.

And the same is true of the opposite scenario, namely the impact of angry customers and negative word-of-mouth or referrals. It is this thinking that Jaffe has channeled to challenge marketers to 'flip the funnel' once and for all. With a renewed focus and energy on customer experience, it is possible to grow your sales, while decreasing your budget – in other words, getting more from less. Engaging a few customers to spread the word to many.

Using this new 'flipped funnel' model, together with a set of new rules of customer service and a revolutionary customer referral and activation process, you'll learn how to transform your existing customers into your best salespeople. In addition, Jaffe will explain how to best introduce and combine both digital and social media tools to boost your loyalty arsenal, deploy 'influencer marketing' and implement word-of-mouth strategies that inspire your loyal, opinionated, and most vocal customers to become credible, persuasive, and influential endorsers of your products and services.

• Explains how to cut your marketing budget AND grow sales!
• Illustrates practical ways to use existing customers to reach out to new prospects
• Outlines the authentic role of social media
• Demonstrates key ideas with rich, real life examples including Comcast, Apple, The Obama Campaign, Dell, Panasonic, American Airlines, Delta Airlines, Johnson & Johnson, Coca-Cola and many, many more
• Written by one of the most sought-after consultants, keynote speakers, and thought-leaders on new marketing change and innovation; renowned blogger and podcaster at Jaffe Juice (www.jaffejuice.com) and host/presenter of web video show, JaffeJuiceTV (www.jaffejuice.tv)

Visit www.flipthefunnelnow.com to join the conversation.

JOSEPH JAFFE is President and Chief Interrupter of crayon, a strategic consultancy that helps clients leverage new media and social media to effect transformational change. Prior to launching crayon, Joseph was Director of Interactive Media at TBWA/Chiat/Day and OMD USA. Jaffe hosts a Web video show on marketing called Jaffe Juice TV (www.jaffejuice.tv). He also publishes a popular and influential marketing blog and audio podcast called Jaffe Juice (www.jaffejuice.com). Jaffe is the author of two previous books, bestselling Life After the 30-Second Spot and Join the Conversation. He is a Senior Fellow at the Center for the Digital Future at the USC Annenberg School and the Society for New Communications Research. Contact him at [e-mail] or follow him on Twitter: @jaffejuice

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Why customer retention is the new acquisition If there's anything the recession of 2009 taught us, it was the importance of investing in our customers, but when was this any different? So says Joseph Jaffe, bestselling author of Life After the 30-Second Spot and Join the Conversation, and a leading expert and thought leader on new media and social media. In most businesses, it costs roughly five-to-ten times more to acquire a new customer than it does to retain an existing one, and yet companies continue to disproportionately spend their budgets into the "e;wrong"e; end of the funnel the mass media or awareness side. What we haven't paid enough attention to is the "e;right"e; end of the funnel-the word-of-mouth component that essentially acts as a multiplier for future business. The economic impact of an active, engaged and loyal customer is tremendous. And the same is true of the opposite scenario, namely the impact of angry customers and negative word-of-mouth or referrals. It is this thinking that Jaffe has channeled to challenge marketers to "e;flip the funnel"e; once and for all. With a renewed focus and energy on customer experience, it is possible to grow your sales, while decreasing your budget in other words, getting more from less. Engaging a few customers to spread the word to many. Using this new "e;flipped funnel"e; model, together with a set of new rules of customer service and a revolutionary customer referral and activation process, you'll learn how to transform your existing customers into your best salespeople. In addition, Jaffe will explain how to best introduce and combine both digital and social media tools to boost your loyalty arsenal, deploy "e;influencer marketing"e; and implement word-of-mouth strategies that inspire your loyal, opinionated, and most vocal customers to become credible, persuasive, and influential endorsers of your products and services. Explains how to cut your marketing budget AND grow sales! Illustrates practical ways to use existing customers to reach out to new prospects Outlines the authentic role of social media Demonstrates key ideas with rich, real life examples including Comcast, Apple, The Obama Campaign, Dell, Panasonic, American Airlines, Delta Airlines, Johnson & Johnson, Coca-Cola and many, many more Written by one of the most sought-after consultants, keynote speakers, and thought-leaders on new marketing change and innovation; renowned blogger and podcaster at Jaffe Juice (www.jaffejuice.com) and host/presenter of web video show, JaffeJuiceTV (www.jaffejuice.tv) Visit www.flipthefunnelnow.com to join the conversation.

Inhalt

Flip the Funnel: How to Use Existing Customers to Gain New Ones 1
Contents 9
Foreword 11
Acknowledgments 15
Preface 17
Section 1: Getting Priorities Straight 21
Chapter 1: The Theory behind Flipping the Funnel 23
AWARENESS 24
INTEREST 25
DESIRE 26
ACTION 27
WHAT’S WRONG WITH THE FUNNEL? 27
Chapter 2: What the Recession Taught Us (AKA Returning to Basics) 31
ATTITUDE 31
BOLDNESS (RISK TAKING) 32
CONTINUITY 34
Chapter 3: Charity Begins at Home 37
THE THEORY OF RELATIVITY 38
HOW WE’VE DONE IT IN THE PAST 38
ROBBING PETER TO PAY PAUL 39
WHEN ACQUISITION ACTS AS A RETENTION DRIVER 39
SAYING AND DOING ARE NOT ONE AND THE SAME 43
WILL THE NEXT "BIGGEST WINNER" BE YOU? 44
Chapter 4: Time to Spurn the Concept of Churn 47
LACK OF CARING OR SIMPLE NEGLECT 48
POOR CUSTOMER SERVICE (RESPONSE AND RESPONSIVENESS) 51
VALUE FOR MONEY IS AS MUCH A PRODUCT OF CUSTOMER SERVICE AS IT IS ABOUT PRODUCT QUALITY 51
BY LOSING TOUCH WITH OUR CONSUMERS 53
BY FAILING TO CLOSE THE LOOP 53
BY LACK OF INNOVATION 54
BORING YOUR CUSTOMERS INTO LOOKING ELSEWHERE IS NOT A BANKABLE STRATEGY 55
Chapter 5: Technology and Relationships—a Love-Hate Relationship 57
DELL IS DIFFERENT 60
APPLE IS DIFFERENT 61
IBM IS DIFFERENT 61
MICROSOFT IS NOT 62
THE DEATH OF THE HUMAN BEING 64
CONGRATULATIONS, DREAMHOST, YOU JUST MADE MY BOOK 64
Section II: A New Way Forward 67
Chapter 6: Time to Flip the Funnel 69
ONE SOLUTION: EXTEND THE FUNNEL 69
ANOTHER SOLUTION: TURNING IT ON ITS SIDE 70
ANOTHER SOLUTION: FLIPPING IT COMPLETELY 70
THE DEATH OF LOYALTY 73
THAT ELEPHANT IN THE ROOM IS YOUR CUSTOMER 74
ENTHUSIASTS VERSUS INFLUENCERS 75
PICKING UP WHERE WE LEFT OFF: THE TIP OF THE TRADITIONAL FUNNEL 77
ACKNOWLEDGMENT 78
TYPES OF ACKNOWLEDGMENT 78
COURTESY CHECK-IN 81
FOLLOW-UP 81
REMINDER 82
‘‘APPOINTMENT LOYALTY’’ 82
THE ROLE FOR MARKETING 83
DIALOGUE 84
GUILTY UNTIL PROVEN INNOCENT 84
DIALOGUE IS NOT A ONE-OFF 87
ROLE FOR MARKETING 90
INCENTIVIZATION 91
REPEAT PURCHASE BEGETS REPEAT PURCHASE 91
INCENTIVIZING WORD-OF-MOUTH 93
THE ROLE FOR MARKETING 94
ACTIVATION 95
THE ROLE FOR MARKETING 98
OH, AND ONE MORE THING . . . 98
LADIES AND GENTLEMEN . . . 99
Chapter 7: Politics, Shoes, and Insurance: Three Examples of Flipping the Funnel 101
BARACK OBAMA FLIPPED THE FUNNEL 101
ZAPPOS FLIPPED THE FUNNEL 108
USAA FLIPPED THE FUNNEL 113
Chapter 8: The Key Is Customer Experience 117
CUSTOMER EXPERIENCE IS NOT CUSTOMER SERVICE 117
LOYALTY AS A BRIDGE TOWARD ECONOMIC VALUE 121
STORY BEHIND THE STORY 126
Chapter 9: How Employees Help Flip the Funnel 129
WHEN IN ROME . . . 131
DECONSTRUCTING BSN 132
NEED MORE PROOF? 133
FUSING THE FUNNEL 134
GARBAGE IN, GARBAGE OUT 135
BANKING ON EMPLOYEES 136
CUSTOMER-CENTRIC VERSUS CUSTOMER CESSION 137
DOUBLE BUBBLE 139
Chapter 10: Customer Service as a Strategic Driver 141
THIS IS YOUR GRANDFATHER’S CUSTOMER SERVICE 141
THIS IS NOT YOUR GRANDFATHER’S CUSTOMER SERVICE 143
CUSTOMER SERVICE IS EVERYTHING (THAT INFLUENCES CUSTOMER EXPERIENCE) 145
CUSTOMER SERVICE DOESN’T HAVE TO INVOLVE CUSTOMERS 145
MOVING CUSTOMER SERVICE TO THE FRONT OFFICE 147
THE 10 NEW RULES OF CUSTOMER SERVICE 147
CUSTOMER SERVICE DOESN’T STOP AT 5 P.M. ON A FRIDAY 148
FROM ‘‘EVERYTHING COMMUNICATES’’ TO ‘‘EVERYONE COMMUNICATES.’’ THE PARADOX OF CUSTOMER SERVICE 152
ALL CUSTOMERS ARE EQUAL, BUT SOME AREMORE EQUAL THAN OTHERS 154
CUSTOMER SERVICE IS NOT ONLY ABOUT SOLVING PROBLEMS 158
CUSTOMER SERVICE LIVES IN THE NOW 160
UNITED BREAKS HEARTS (AND GUITARS) 163
CUSTOMER SERVICE CAN BE A REVENUE GENERATOR 165
PREMIUM SERVICE IS NOT ALWAYS INCREMENTAL 166
CUSTOMER SERVICE LIVES IN THE PUBLIC DOMAIN 167
CUSTOMER SERVICE NEEDS A MEMORY IT IS A COMMITMENT, NOT A ONE-OFF HAPPENSTANCE
INTEGRATION IS INNOVATION 169
CUSTOMER SERVICE NEEDS TO BE PROACTIVE AND ANTICIPATORY 171
A WORD TO THE WISE: DON’T FORGET THE REAL WORLD 173
CUSTOMER SERVICE IS ALIVE 174
Chapter 11: The New Channels of Customer Service 177
BLOGGING 178
BLOGGING BELONGS TO YOUR CUSTOMERS 180
BLOGGING BELONGS TO YOU 180
TWITTER—FOR THE BIRDS OR TWITS 183
CUSTOMER SERVICE HAS A NAME, AND IT IS FRANK 184
COMCAST: THE UN-OBAMA 185
BLURRING PERSONAL, PROFESSIONAL, AND PRIVATE 187
SEARCH (AND RESCUE) 190
LIVE CHAT—THE FUSION OF HUMANS AND ROBOTS 191
CROWDSOURCING CUSTOMER SERVICE 193
PUTTING IT ALL TOGETHER 195
THE REAL ROLE FOR SOCIAL MEDIA 197
Section III: Making It All Happen 199
Chapter 12: Transforming Mouths into Megaphones 201
IT ALL COMES DOWN TO TRUST 204
BUILDING AN INFRASTRUCTURE POWERED BY WORD OF MOUTH 207
RANTINGS, RAVINGS, OR RIFFS 207
RESPONSE IN REAL TIME 210
WHEN IS THE RIGHT TIME TO RESPOND? 211
TWO-FOR-ONE SPECIAL 212
WHY RESPOND AT ALL? 213
REVIEWS 215
WHEN IS A REVIEW NOT A REVIEW? 218
RECOMMENDATIONS 219
REFERRALS 220
Chapter 13: To Incent or Not to Incent: Is That the Question? 223
ARE WE SELLING OUR SOULS TO THE DEVIL? 224
DANGER: CHARLATANS AHEAD 226
SPONSORED CONVERSATIONS ARE HERE TO STAY 227
SURVEY SAYS . . . 229
TELL THE WORLD: THE SPONSORED REVIEW 231
YOU SCRATCH MY BACK, I GIVE YOU FREE STUFF 232
INCENTIVIZATION DOES NOT ALWAYS HAVE TO MEAN COMPENSATION 232
QUALIFYING AND SEGMENTING CUSTOMERS 236
Chapter 14: The New Customer-Activation Model: Content, Conversation, Commendations 237
UNIVERSAL CURRENCY 237
THE THREE PILLARS OF ACTIVATION: CONTENT, CONVERSATION, AND COMMENDATIONS 239
THE 6-C MODEL: A CRASH-COURSE RECAP 239
CONTENT: THE BACKBONE OF THE 6 C MODEL 241
SO WHAT CAN YOU DO ABOUT IT? 244
CONVERSATION: A PERFECT MARRIAGE OF CONTEXT + COMMUNITY 245
SO WHAT CAN YOU DO ABOUT IT? 247
COMMENDATIONS: THE DIRECT PATH TO COMMERCE 247
THE ECONOMICS OF REFERRALS 249
SO WHAT CAN YOU DO ABOUT IT? 250
PUTTING IT ALL TOGETHER 251
WHEN IN DOUBT, LEAVE IT IN 253
CASHING OUT 254
TRANSFORMATION 254
Chapter 15: The Economic Benefits of Customer Experience 257
CUSTOMER EXPERIENCE PAYS 258
SO WHAT’S A SATISFIED CUSTOMER WORTH? 261
MEASUREMENT GUIDELINES 264
Chapter 16: Cultural Sell-through and Organizational Sign-off 267
WHO OWNS THE CUSTOMER? 270
ORGANIZATIONAL MELTDOWN 273
CUSTOMER EXPERIENCE IS BIGGER THAN MARKETING 273
IT’S ALL ABOUT CULTURE 275
Chapter 17: Flip the Funnel for Your Personal Life 283
PERSONAL BRANDING IS OVERRATED 285
THE THIRD CUSTOMER 287
Chapter 18: I Had a Great Experience—How about You? 289
CLOSING REMARKS 290
THE BUTTERFLY EFFECT OF BUSINESS 290
WE’RE ALL IN THIS TOGETHER 293
Resources 295
Index 297

Produkt-Details

• Erscheint lt. Verlag: 12.1.2010
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Marketing / Vertrieb
• Schlagworte: Brand Marketing • brand strategy • Business & Management • Churn • Community • consumer loyalty • Crayon • crayonville • Customer Acquisition • Customer Experience • Customer loyalty • Customer Retention • Digital Marketing • finding new prospects • Flip the Funnel • how to keep customers • influencer marketing • Jaffe Juice • Join the Conversation • Joseph Jaffe • Life After the 30-Second Spot • Loyalty • loyalty marketing • loyalty strategies • Marketing • Marketing & Sales • Marketing strategy • Marketing u. Vertrieb • New Marketing • New Media • retention marketing • sales techniques • Social Media • Strategic Marketing • Wirtschaft u. Management • Word-of-Mouth Marketing
• ISBN-13: 9780470591260 / 9780470591260