How to Incite Loyalty and Increase Customer Retention w/ Ed Frame

It’s 5x cheaper to retain an existing customer than acquire a new one and increasing retention by 5% can increase profits by 25 - 95%. Yet so many companies still prioritize customer acquisition over retention.  In this episode, David Millay and Katie Rudy sit down with Ed Frame, CEO and Founder of Exemplify CX and discuss his 7-phase approach to Customer Longevity, converting buyers into repeat customers and brand advocates.  

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Show Notes

2:35     About Exemplify and the Retention Funnel

3:59     Working Backwards - The Ideal Customer Experience

7:49     The 7 Phases of Customer Retention

11:32  Solving a Problem - Known and Unknown

16:15  Creating a Tangible “Unboxing” for Experiences

20:43  Overcoming Buyers’ Remorse

23:42  Giving Customers More 

25:49  Driving Customer Loyalty

29:19  Inciting Loyalty through Social Media

32:45  The Cost of Retention vs. Acquisition

38:28  Cultivating Brand Advocates

41:08  The Value of Service Recovery

43:43  Hot Takes 

46:30  Parting Advice

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For more info on topics covered in this episode:

Connect with Ed on LinkedIn 

Learn more about Exemplify | 7 Steps to Customer Longevity 

Connect with Host, David Millay:
Connect w/ David Millay on LINKEDIN: https://www.linkedin.com/in/davidmillay/
Follow David on INSTAGRAM: https://www.instagram.com/david.millay/
Follow David Millay on TWITTER: https://twitter.com/DavidMillay