Seven Customer Retention Strategies January 17, 2013 by Jeff Hurt Customer Retention Strategies from Jeff Hurt On average, U.S. corporations lose 50% of their customers every five years says business researcher Frederick Reichheld. An average company has a defection rate of 10%-30% of their customers each year, he says. Raising your customer retention by 5% can increase the lifetime value of your average customer by … [Read more…] Filed Under: Event Planning Tagged With: , customer retention, customers, membership, membership retention, return on customer
Four Ways Data Mining Is Going To Change Associations August 20, 2012 by Jeff Hurt Fundamentally, the only competitive advantage one has is customer knowledge. ~ Thomas Karlaris, CEO, Barclays. CEOs are building and investing in analytic muscle more than any other functional area. They want to connect with their customers as individuals and get to know them better. According to a 2012 IBM study of face to face interviews … [Read more…] Filed Under: Event Technology Tagged With: , data mining, membership
Reasons Why Members Recommend Association Membership To Colleagues May 24, 2012 by Jeff Hurt What influences someone to join a nonprofit association? According to a 2012 association study, recommendations from advisors, colleagues, experts, families and friends has the most influence on a person’s decision to join an association. 32% of association members state that they joined based on the recommendation of another person. 14% received recommendations from families and … [Read more…] Filed Under: Ramblings Tagged With: , association membership, member, membership
Are Millennials And Associations The Oil And Water Of Today? June 2, 2011 by Jeff Hurt It’s an association migraine of the worst kind. The tension is as thick as a dense fog. It’s at an all time record threat level. It’s like mixing oil and water. Some try to label this tension as one of two traditional categories: threat or opportunity. Others say it requires more than identification. This dynamic tension … [Read more…] Filed Under: Ramblings Tagged With: , association best practices, membership, nonprofit trends
