Romancing with the customers
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If the quality of romance with your customer is not up to the mark, there is every likelihood of divorce even after a marriage. This presentation gives the science behind maintaining this romance with a customer and even defines the metrics that can be used to drive the same.
Romancing with the customers
- 1. Romancing with the Customer Program Curated for Travel Agent Association of India, Nagpur Chapter
- 2. Romance: Level 1 Thinking Courting Charming Relationship Imagine Dating Gifting Steady Daydream Socializing Flattering Quality time Visualize Escorting Flirting Happy Hallucinate Serenading Chatting Unhappy
- 3. Know Your Customer well Do you know your customer beyond his name and billing history?
- 4. What do you know about your customer? Average Order Value (AOV) Average Basket Size (ABS) Stickiness Lapsation Recency, Frequency & Monetary Value (RFM)
- 5. Average Order Value (AOV)
- 6. Average Basket Size (ABS) Category 1 = Domestic Ticketing Services Category 2 = Jungle Safari Category 3 = Passport services Category 4 = International Travel ticketing Category 5 = Tour Planning Category 6 = Destination Marriages What is the ABS if I have taken 1 ticket under category 1 and 1 Destination Marriage service under Category 6? What is the ABS if I have purchased 100 tickets under Category 1?
- 7. Stickiness This refers to all those customers who have a ABS (Average Basket Size) of 1. This means that your customers buy products from other category services from your competitors, knowingly or unknowingly.
- 8. Lapsation This refers to customers who have stopped being a bonafide member any longer. They have patronized us in the past.
- 9. RFM Recency, Frequency, Monetary Value
- 11. Do you know your customers well enough? Peeling off every layer of the onion tells us something more about the onion!
- 12. Romance: Level 2 Likes Lifestyle Belief Attitude Dislikes Club Religion I am OK Loves Car Cultural You are ok. Yearns Friends Social Both are ok Dreams Congregations Economic Stubborn
- 13. What more do you need to know about yoru customer? Primary, Secondary & Tertiary Baskets MCPC Index MCPT Index MMPM Index
- 14. PST Baskets Ticketing Services Wildlife Safari Services Passport Services Haj Services We have just taken 4 baskets as an example. This is not a complete list of possible baskets for any travel operator.
- 15. More Customer Per Customer (MCPC) Index Cross Selling Reference Selling Up Selling
- 16. More Customer Per Type (MCPT) Index List Types in each Basket Outreach to more such Types Get More Customer per Type
- 17. More Market Per Market (MMPM) Index Market Intelligence Catchment Analysis Price Laddering Market Sensing Market Segmentation Market Share Analysis Market Strategy Strategic Planning Go-To-Market Plan
- 18. Romance Level 1 and 2 Level 1 1. Average Order Value 2. Average Basket Size 3. Stickiness 4. Lapsation 5. RFM Level 2 1. MCPC 2. MCPT 3. MMPM
- 19. Keep Romancing!
- 20. Follow me on Social Media: www.youtube.com/consult4sales www.linkedin.com/sanjay4sales www.Instagram.com/sanjay4sales www.facebook.com/consult4sale s1 www.pinterest.com/sanjay4sales www.reddit.com/saleskarmas www.quora.com/sanjay4sales Sanjay Singh, The Sales Coach