ENTR2262: Customer Retention Strategies - Presentation & Analysis

This presentation focuses on customer retention strategies for small businesses, emphasizing the importance of loyalty programs and customer engagement. It explores various customer retention measures, including reward systems, partnership mechanisms, and personalized customer experiences. The presentation highlights the benefits of customer loyalty programs, such as increased customer trust and cost-effectiveness in comparison to acquiring new customers. It discusses the significance of personalized customer experiences, effective communication, and referral marketing schemes to foster customer loyalty and drive business success. The content includes references to relevant research and provides a comprehensive overview of customer retention strategies for entrepreneurs and small business owners. The presentation also emphasizes the role of planning and proper implementation of loyalty programs in achieving long-term business success and sustainability.

Running Head: SMALL BUSINESS MANAGEMENT
Small Business Management
Name of the Student:
Name of the University:
Author Note:

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Recommendations based on the Presentation
The various customer retention programs are always meant to establish and maintain the
various forms of the stable relationship between the current customers. This is mainly because of
the reason that it will be easier for the customer retention measures that will find the new loyalty
programs. The programs for the customer loyalty measures will be designed to reward the
customers that will make the frequent purchases. This will include the new ways and the
company’s strategies that will benefit the frequent customers such as the cash backs, the free
products and the various discount rate that will also provide with the long term offers for the
customer retention measures.
The system of the point reward is one of the most crucial factors that will be used by the
various businesses that will support the various short term and the short term purchases. The
customers will gain the required points that will determine the different rewards according to the
various points that will accrue to the major discount rate system for the next purchase
mechanism in the customer retention measures (Kamau, 2017). The customer retention
mechanism will also include the frequent level of the purchases that will value the rewards. The
various form of the purchases, the customers will try to advance the different discount rates for
the particular products that will give them with the various opportunities on a larger scale in
order to enjoy the increasing level of the benefits by the customers (Amelia & Sultan, 2019).
The mechanism of the partnership between the firms with the other various companies
will offer the joint strategic partnership along with the associated loyalty programs that will
provide the amazing tool to benefit the customers that will bring the various products in the
market. The various partner companies will be creating the loyalty programs base that will

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provide the various form of the benefits to the customers in the best ways. There are various
significances in the implementation of the customer retention measures. First it can be noted that
the customer loyalty programs will provide with the different variety of the benefits that will be
enjoyed by the customers. However in the context of the present market situation, the traditional
form of the loyalty programs will not be sufficient to address the problems of the customer retail
market. The loyalty programs will also be characterized by the loyal customer’s base who will
show the trust in the brand analysis and will accordingly spend the retention measures for the
different customers (Miranda, 2018).
The different loyalty programs will create and also implement the various loyalty
programs towards the increasing form of the investment in the strategies of the customer
retention measures that will often prove to be less expensive in attracting the new customers in
the market. The acquiring of the different customers will be prove to be even more expensive
than the traditional retention of the customers. The modern customers will prefer a more
personalized form of the customer experience that will provide to the generations regarding the
reporting to the customers that is considered to be the main priority by the various customers.
The loyalty programs enhance the engagement of the different customers by the better
mode of the communication mechanisms that will be particularly useful in appropriating of the
needs of the program based analysis that will be analyzed by the different monitoring
mechanisms that will continue to function in the context of the chosen techniques. The
mechanism of the good reward system will attract the new customers in various ways
(Ascarza,et.al 2018).They will offer the customers with the various points or the various rates of
the discounts that will enable the customers to fetch the rewards within the loyalty programs that

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will be characterized by the various reward mechanism that will make the reward system more
accessible to the various customers.
A quality loyalty program for increasing the engagement ration of the customers will
include the referral marketing schemes that will be characterized by the visual level of the
various marketing techniques that will in turn foster the loyal level of the customers who will
eventually speak on behalf of the smart and the modern business strategies. The loyalty programs
will also be characterized by the different levels of the planning that will be the pillars of the
future business strategy and will eventually enhance the success of the existing business. The
loyalty programs in order to be properly implemented with the proper level of the work and the
planning procedures (Weinstein, 2018).

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References
Amelia, E., & Sultan, M. A. (2019, December). Optimization of customer retention programs. In
Advances in Business, Management and Entrepreneurship: Proceedings of the 3rd
Global Conference on Business Management & Entrepreneurship (GC-BME 3), 8
August 2018, Bandung, Indonesia (p. 93). CRC Press.
Ascarza, E., Neslin, S. A., Netzer, O., Anderson, Z., Fader, P. S., Gupta, S., ... & Provost, F.
(2018). In pursuit of enhanced customer retention management: Review, key issues, and
future directions. Customer Needs and Solutions, 5(1-2), 65-81.
Kamau, L. W. (2017). Effect of Loyalty Programs on Customer Retention: A Case of Nakumatt
Supermarkets Kenya (Doctoral dissertation, United States International University-
Africa).
Miranda, K. (2018). The Effects of Loyalty Programs on Profits and Customer Retention.
Weinstein, A. (2018). Customer Loyalty and Retention. In Superior Customer Value (pp. 175-
194). Routledge.