Honeywell, like many other companies, recognizes that brand differentiation and increased market share require more than just offering “best-in-class” products or services. It also means creating exceptional customer experiences, which can go a long way toward defining or reinforcing a competitive edge.
The question is, what are you doing to create exceptional experiences for your best customers? You may not have Honeywell’s resources at your disposal, but you can be a heavy hitter when it comes to customer retention.
A guest post by Bill Johnson, President, WordWizards, Inc.
At the BMA Minnesota Learning Event on May 5, guest speaker Doug Beaudet will share the fascinating story of how Honeywell International, in its quest to become the “Apple of industrials,” approaches the customer experience in innovative and compelling ways.
Consider the case example of a local medium-sized company, a medical device manufacturer. Corporate leaders there recognized that 20% of their customers generated 80% of their revenue — customers the company could ill afford to lose. With input from the marketing team, the company devised a comprehensive strategy for rewarding, nurturing and retaining these very best customers. Following are six key elements of this strategy:
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