Case Summary :
The case deals with the problems faced by the newly formed inbound-marketing authority, Hubspot in customer retention, service offering and ultimately achieve profit and accelerated growth rate for the company.
Products offered by Hubspot:
• Customer Relationship Management
• Marketing software
• Sales software
• Content Management Services
(https://www.hubspot.com/products/get-started)
Issues faced:
• Inefficiency of the SaaS Pricing model
• Higher churn rate of existing customers
• Decision on which segment to focus to achieve seamless scale-up of business
Goals:
• To increase profitability by acquiring new customers
• To accelerate growth rate
Key Learnings:
Overview of this case resolution:
• Strategies to curb churn rate-e.g. Lock-in,
•
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A fundamental solution to attract more customers; Owner Ollies in this case, is by providing Customer Experience management and enhancement solutions.
This can be done by providing advanced CMS services while maintaining ease-of-use. E.g. Implementation of user-friendly c-panel/z-panel services.
Owner Ollies are service-sensitive and seek quick solutions to their ever-growing list of problems. Given opportunities to troubleshoot any glitch that arises when they host content will enhance their experience in-turn increasing retention.
Other offers can include
• Free domains
• Free domain transfer
• Free storage space up to 40 GB (50% more than the competition)
• Bandwidth up to 100
As we are in the hospitality and leisure industry guest/customer satisfaction is key. We have set organisational targets where our aim to achieve 100%.
Today’s world competition is very strong in every kind of businesses. Every organisations must provide high quality products or services in order to survive, however their competitors also providing the same or comparable products or services. An important way to an organisation to get an edge over its competitors is to provide extra service to satisfy and delight their customers, which can retain them and also gain new customers. Therefore the achievement of customer satisfaction must be a major objective in all organisations.
Improve the customer service and make sure the customers give no complaints and make sure they are satisfied with all the services provided by the company and keep close contact with the customers and be very friendly with them and keep them happy. Give the regular customers’ high discount and encourage them to come more often. This is our main goal for us to achieve because we want to make sure the customers are satisfied with our services.
Kudler Fine Foods is a growing company striving to provide its customers with the finest foods and ingredients possible. To serve their customers even better, Kudler has implemented an Internet website to expand their business. Although this is an excellent idea, their current website is lacking in several areas. Our team of computer software specialists will examine Kudler's webpage and examine all of the benefits and some of the drawbacks that it currently offers. We will then submit our proposal of a new website with an intriguing new look to attract new potential customers and encourage existing customers to venture into cyberspace. There is a
In fact, companies who successfully implement a customer experience strategy achieve higher customer satisfaction rates, reduced customer churn and increased revenues. Furthermore, research by American Express found that 60% of customers are willing to pay more for a better experience. (American Express, 2011)
show our customers the care of our business but promote our business in a positive way.
We need to provide excellent customer satisfaction to ensure that the customer is happy and that we can get recommendations from the work we have done. We want to continue to build up our reliable customer base from which we know approximately 60% is purely from recommendations so customer satisfaction is crucial to move forward the business.
HubSpot is a new company founded in 2006 by visionaries’ entrepreneurs. They sell not only a service product which provides technological tools and offers business solutions; they also sale a system a new concept of how to do business. Any business needs from marketing along with communication strategies to have certain contact with people that eventually become potential customers. Contacts promote sales. Traditionally marketing was employed through traditional communication techniques such as: Tele marketing, Direct Mail, Person-to-Person through salesmen and so forth. These traditional ways of do marketing are called Outbound Marketing.
* Offer great customer service experience at great value, which will essentially attract more customers and help build on their goals of 2016
* With the help of CRM along with recognition of the customer providing personal services was also possible. This helps in tailoring the experience according to customer needs and creating a long term relationship. For eg. Rooms can be pre-assigned and prepared according to customer preferences.
Customer loyalty is much harder to obtain that customer service satisfaction. The most important first step is to satisfy the customer by meeting their expectations. Customers only give a company one chance and if they aren’t satisfied they will not do business with that company again, as well as tell others of their experience. The next step would be to exceed the customer’s expectations. If a business goes above and beyond to assist the customer they begin to build loyalty. The next step is to truly surprise the customer. In order to dominate the marketplace the company must find a way to make them selves stand out with their product or service, accompanied with phenomenal customer service. Once this has been done customer satisfaction and loyalty will be gained. “Acquiring a new customer can cost four or five times more than keeping a current customer” (Bestmark, 2013). So it’s essential to keep the current customer’s happy and coming back for more.
Today’s organizations fail to realize the value of their customers when it comes to the success of their business. Without customer loyalty the success of your business will always be uncertain. Organizations must sensitively tailor the designs of a successful firm to the particular challenges of understanding, attracting, and keeping valuable customers. “Having satisfied customers just aren’t good enough”. Kenneth Blanchard and Sheldon Bowles, co-authors of Raving Fans, believe this concept is needed to have a successful business. I agree with this concept of customers being the focal point of any business. I would want more than just a satisfied customer; I want a “Raving Fan”.
Since its founding, sales have grown exponentially from US$1.6 million in 2000 to US$1B in 2008 (Exhibit 1.). This strong growth was dependent on a strong and loyal customer base, which in turn was dependent on employees who were passionate about and took pride in their work by providing exceptional customer service in their quest to ‘WOW’ their customers.
It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do
The issues encountered can occur on both the company and customer side, among them are the