Southwest Airlines made one tiny change that probably added $80-100 million to their operating profits. Interestingly, this small change might create customer retention even though the customer ends up paying a fair bit more. It seems odd to think of higher prices being critical to customer retention, doesn’t it? If you’ve ever been on a […]
Why Rituals Improve Customer Retention Rate
How do you do 100,000 steps a week? The short answer: With a lot of difficulty. But seriously, 100,000 steps a week is a whopping 14,000 steps a day. And to get motivated to do something like that is close to impossible, right? Yes it is, unless you have a ritual. So what is a […]
Why The ‘Third Conversion’ Creates Repeat Customers
As a retailer, which is the most important sale of all? Is it the first sale, second sale, third sale or future sales? Actually the answer is: “All of the above.” But you knew that already didn’t you. What you probably didn’t know, is the importance of the third conversion. So what’s the third conversion? […]
