Miller’s Monday Morning Message

Andrew MillerMiller’s Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on operational excellence, strategy, life balance and everything in between

Toronto – January 19, 2015
It was announced last week that Target will be closing all of its 133 stores in Canada. This is a major failure in Target’s first (and possibly last) try at international expansion. So what went wrong?
Target didn’t replicate the model that worked for them in the U.S. In the Canadian stores, items were often missing from the shelves. The selection of items wasn’t as good as in the U.S. stores. The prices were on average 10-20% more expensive than in the U.S. It was a completely different experience. Canadian customers expected a certain experience and Target didn’t provide it. They didn’t offer enough value to stop Canadians from driving two hours and shopping at Target in the U.S.
Four of the key factors to maximizing customer retention are consistency, innovation, quality, and service. Target Canada struggled with all of them.
What are you doing to ensure you provide a consistent experience that meets your customers’ expectations?
Listen to my podcast on why Operational Excellence needs to be redefined.
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Andrew Miller
416-480-1336
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10 Factors You Need to Master to Maximize Customer Retention

When putting together strategies that will maximize your customer retention, remember these 10 factors:

  1. Consistency – offering customers the same experience regardless of with whom they speak or where they are.
  2. Loyalty – creating an emotional connection to your organizations and its products and services.
  3. Innovation – constantly bringing new offerings and ideas to customers
  4. Value – offering products and services that meet a customer need.
  5. Quality – offering products and services that meet the quality expectations of your customers.
  6. Convenience – being easily accessible.
  7. Prestige – customers feel good about being associated with your organization.
  8. Service – resolving customer issues quickly and effectively.
  9. Habit – customers buy from you because it’s become a part of their regular routine.
  10. Benefit – offering real or perceived benefit to customers.

How many of these 10 factors are you doing effectively?