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a) reassessing r/s (analyse reasons for why customer is unprofitable)
b) educate customers (prepare customer so that they will be be adaptable with the change)
c) renegotiate value proposition (reach mutual benefits when implementing new pricing / strategies)
d) migrate customers (refer customer to another alternative of the same category)
e) Terminate relationship (cutting the tie with customers after the customer is being unprofitable)

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(iii) Customer divestment strategy (might be effective, last resort) 

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(iii) Customer divestment strategy (might be effective, last resort) 

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Reasons for it:

profitability ( customers who were perceived to be of high value might divert back to being unprofitable)

Customers' behaviour (undesirable mistreatment of employees from the customers)

company's capacity (incapability from the company's part to cater to their customers)

business strategy (priority or focus of comapny might switch direction and be pivoted to a new market segment)

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1. Unbundling

2. Upselling

3. Cross-selling

4. Referrals

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(i) Identify customers' that could develop  value 

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(i) Identify customers' that could develop  value 

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- strengthen relationship with profitable and unprofitable customers to increase value by referrals

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*Add values to existing retained customers

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Marketing Automation (MA)
- curate and execute a loyalty management programs
Analytical CRM
- observe customers' behavior through studying their insights in order to come with retention plan

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short term option to retain customers

to 'trap' customers to stay by implementing penalties or a price to pay to exit

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Value

Convenience

Achievable

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Aim: motivate customers to return to engage in the same product/service from the same company in a long run
* beneficial for both company and customers

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Significant groups of  customers to retain 

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Significant groups of  customers to retain 

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1. High lifetime value (profitable)

2. High volume (stability)

3. Benchmark (high influence from other  people)

4.  Inspirational (contributes improvements for company)

5. Door opener ( new opportunity enabler for new market)

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*aim to target high value customers that'll contribute to company's revenue

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based on their commitment level (committed/uncommitted)

1. Committed customers
- Entrenched (unlikely to turnover to another brand in the near future)
- Average (unlikely to turn to another brand anytime soon but might do it after some time)
2. Uncommitted customers
- Shallow ( actively seeking for another alternative)
- Convertible (can switch to another brands anytime)

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* to increase loyalty and prevent switchover of brands

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Lower cost

Builds customer - brand loyalty

Increase revenue

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[ (customers at end of period - new customers acquired during period) /customers at beginning of period ] x 100%

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Retaining existing customers of the company. Maintain a everlasting relationship between company and customer.
*at the same time focusing on retaining valuable customers

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* Cost of convincing a potential customer to purchase product or service provided by the company

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* Cost of convincing a potential customer to purchase product or service provided by the company

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Formula: total marketing & sales cost / total no. of customers acquired

* word of mouth/directing marketing/sales promotion = lower cost
* social media advertising/Google advertising paid search results = higher cost
ideal Customer Lifetime Value to Customer Acquisition Cost 3:1

High end brands tend to have higher customer acquisition cost

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- To predict customer's future loyalty
- Categorized based on the the level of commitments to the brand
- identify and target which customer group to acquire based on the Commitment level

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(ii) Customer acquisition strategy (How to acquire) 

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(ii) Customer acquisition strategy (How to acquire) 

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* Advertising
Advertising Communication Objective
- Cognitive outcome (to raise awareness & generate knowledge of products/services)
- Affective outcome (aim to develop a liking for a brand and generate preference towards the company)
Advertising Media
Reach: total number of targeted audience that is exposed at least ONCE to a specific advertisement.
Frequency: average number of times targeted audience individuals are exposed to a specific advertisement.

* Sales promotion (sampling, free trials, discounts, rebates, free gifts etc.)
- temporary incentive to target at prospects to trigger their buying decision
- suitable for consideration stage
* Word of mouth
- existing customers influence other people to buy from the company (known as independent of commercial influence)
- through customer referrals, social media, feedback and testimonials
* Others
- direct marketing
- online sources
- exhibitions
- merchandising

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(i) Identify potential prospects (Who to acquire) 

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(i) Identify potential prospects (Who to acquire) 

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- Commitment level
- Customer acquisition cost

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(i) Identify potential prospects
(ii) Customer acquisition strategy

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2nd Pillar Acquisition and retention of customers 

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2nd Pillar Acquisition and retention of customers 