Flip the Funnel: How to Use Existing Customers to Gain New Ones

Flip the Funnel: How to Use Existing Customers to Gain New Ones

by
Released January 2010
Publisher(s): Wiley
ISBN: 9780470487853

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Book description

Why customer retention is the new acquisition

If there's anything the recession of 2009 taught us, it was the importance of investing in our customers, but when was this any different? So says Joseph Jaffe, bestselling author of Life After the 30-Second Spot and Join the Conversation, and a leading expert and thought leader on new media and social media. In most businesses, it costs roughly five-to-ten times more to acquire a new customer than it does to retain an existing one, and yet companies continue to disproportionately spend their budgets into the "wrong" end of the funnel – the mass media or awareness side.

What we haven't paid enough attention to is the "right" end of the funnel-the word-of-mouth component that essentially acts as a multiplier for future business. The economic impact of an active, engaged and loyal customer is tremendous.

And the same is true of the opposite scenario, namely the impact of angry customers and negative word-of-mouth or referrals. It is this thinking that Jaffe has channeled to challenge marketers to "flip the funnel" once and for all. With a renewed focus and energy on customer experience, it is possible to grow your sales, while decreasing your budget – in other words, getting more from less. Engaging a few customers to spread the word to many.

Using this new "flipped funnel" model, together with a set of new rules of customer service and a revolutionary customer referral and activation process, you'll learn how to transform your existing customers into your best salespeople. In addition, Jaffe will explain how to best introduce and combine both digital and social media tools to boost your loyalty arsenal, deploy "influencer marketing" and implement word-of-mouth strategies that inspire your loyal, opinionated, and most vocal customers to become credible, persuasive, and influential endorsers of your products and services.

  • Explains how to cut your marketing budget AND grow sales!
  • Illustrates practical ways to use existing customers to reach out to new prospects
  • Outlines the authentic role of social media
  • Demonstrates key ideas with rich, real life examples including Comcast, Apple, The Obama Campaign, Dell, Panasonic, American Airlines, Delta Airlines, Johnson & Johnson, Coca-Cola and many, many more
  • Written by one of the most sought-after consultants, keynote speakers, and thought-leaders on new marketing change and innovation; renowned blogger and podcaster at Jaffe Juice (www.jaffejuice.com) and host/presenter of web video show, JaffeJuiceTV (www.jaffejuice.tv)

Visit www.flipthefunnelnow.com to join the conversation.

Table of contents

  1. Title Page
  2. Copyright Page
  3. Foreword
  4. Acknowledgements
  5. Preface
    1. THE MILE HIGH CLUB
    2. TICK. TOCK.
  6. Section I - Getting Priorities Straight
    1. Chapter 1 - The Theory behind Flipping the Funnel
      1. AWARENESS
      2. ACTION
      3. WHAT’S WRONG WITH THE FUNNEL?
    2. Chapter 2 - What the Recession Taught Us
      1. ATTITUDE
      2. BOLDNESS (RISK TAKING)
      3. CONTINUITY
    3. Chapter 3 - Charity Begins at Home
      1. THE THEORY OF RELATIVITY
      2. HOW WE’VE DONE IT IN THE PAST
      3. ROBBING PETER TO PAY PAUL
      4. WHEN ACQUISITION ACTS AS A RETENTION DRIVER
      5. SAYING AND DOING ARE NOT ONE AND THE SAME
      6. WILL THE NEXT “BIGGEST WINNER” BE YOU?
    4. Chapter 4 - Time to Spurn the Concept of Churn
      1. LACK OF CARING OR SIMPLE NEGLECT
      2. POOR CUSTOMER SERVICE (RESPONSE AND RESPONSIVENESS)
      3. VALUE FOR MONEY IS AS MUCH A PRODUCT OF CUSTOMER SERVICE AS IT IS ABOUT PRODUCT QUALITY
      4. BY LOSING TOUCH WITH OUR CONSUMERS
      5. BY FAILING TO CLOSE THE LOOP
      6. BY LACK OF INNOVATION
      7. BORING YOUR CUSTOMERS INTO LOOKING ELSEWHERE IS NOT A BANKABLE STRATEGY
    5. Chapter 5 - Technology and Relationships—a Love-Hate Relationship
      1. DELL IS DIFFERENT
      2. APPLE IS DIFFERENT
      3. IBM IS DIFFERENT
      4. MICROSOFT IS NOT
      5. THE DEATH OF THE HUMAN BEING
      6. CONGRATULATIONS, DREAMHOST, YOU JUST MADE MY BOOK
  7. Section II - A New Way Forward
    1. Chapter 6 - Time to Flip the Funnel
      1. ONE SOLUTION: EXTEND THE FUNNEL
      2. ANOTHER SOLUTION: TURNING IT ON ITS SIDE
      3. ANOTHER SOLUTION: FLIPPING IT COMPLETELY
      4. THE DEATH OF LOYALTY
      5. THAT ELEPHANT IN THE ROOM IS YOUR CUSTOMER
      6. ENTHUSIASTS VERSUS INFLUENCERS
      7. PICKING UP WHERE WE LEFT OFF: THE TIP OF THE TRADITIONAL FUNNEL
      8. ACKNOWLEDGMENT
      9. TYPES OF ACKNOWLEDGMENT
      10. COURTESY CHECK-IN
      11. FOLLOW-UP
      12. “APPOINTMENT LOYALTY”
      13. THE ROLE FOR MARKETING
      14. DIALOGUE
      15. GUILTY UNTIL PROVEN INNOCENT
      16. DIALOGUE IS NOT A ONE-OFF
      17. ROLE FOR MARKETING
      18. INCENTIVIZATION
      19. REPEAT PURCHASE BEGETS REPEAT PURCHASE
      20. INCENTIVIZING WORD-OF-MOUTH
      21. THE ROLE FOR MARKETING
      22. ACTIVATION
      23. THE ROLE FOR MARKETING
      24. OH, AND ONE MORE THING . . .
      25. LADIES AND GENTLEMEN . . .
    2. Chapter 7 - Politics, Shoes, and Insurance: Three Examples of Flipping the Funnel
      1. BARACK OBAMA FLIPPED THE FUNNEL
      2. ZAPPOS FLIPPED THE FUNNEL
      3. USAA FLIPPED THE FUNNEL
    3. Chapter 8 - The Key Is Customer Experience
      1. CUSTOMER EXPERIENCE IS NOT CUSTOMER SERVICE
      2. LOYALTY AS A BRIDGE TOWARD ECONOMIC VALUE
      3. STORY BEHIND THE STORY
    4. Chapter 9 - How Employees Help Flip the Funnel
      1. WHEN IN ROME . . .
      2. DECONSTRUCTING BSN
      3. NEED MORE PROOF?
      4. FUSING THE FUNNEL
      5. GARBAGE IN, GARBAGE OUT
      6. BANKING ON EMPLOYEES
      7. CUSTOMER-CENTRIC VERSUS CUSTOMER CESSION
      8. DOUBLE BUBBLE
    5. Chapter 10 - Customer Service as a Strategic Driver
      1. THIS IS YOUR GRANDFATHER’S CUSTOMER SERVICE
      2. THIS IS NOT YOUR GRANDFATHER’S CUSTOMER SERVICE
      3. CUSTOMER SERVICE IS EVERYTHING (THAT INFLUENCES CUSTOMER EXPERIENCE)
      4. CUSTOMER SERVICE DOESN’T HAVE TO INVOLVE CUSTOMERS
      5. MOVING CUSTOMER SERVICE TO THE FRONT OFFICE
      6. THE 10 NEW RULES OF CUSTOMER SERVICE
      7. CUSTOMER SERVICE DOESN’T STOP AT 5 P.M. ON A FRIDAY
      8. FROM “EVERYTHING COMMUNICATES” TO “EVERYONE COMMUNICATES.” THE PARADOX OF ...
      9. ALL CUSTOMERS ARE EQUAL, BUT SOME ARE MORE EQUAL THAN OTHERS
      10. CUSTOMER SERVICE IS NOT ONLY ABOUT SOLVING PROBLEMS
      11. CUSTOMER SERVICE LIVES IN THE NOW
      12. UNITED BREAKS HEARTS (AND GUITARS)
      13. CUSTOMER SERVICE CAN BE A REVENUE GENERATOR
      14. PREMIUM SERVICE IS NOT ALWAYS INCREMENTAL
      15. CUSTOMER SERVICE LIVES IN THE PUBLIC DOMAIN
      16. CUSTOMER SERVICE NEEDS A MEMORY; IT IS A COMMITMENT, NOT A ONE-OFF HAPPENSTANCE
      17. INTEGRATION IS INNOVATION
      18. CUSTOMER SERVICE NEEDS TO BE PROACTIVE AND ANTICIPATORY
      19. A WORD TO THE WISE: DON’T FORGET THE REAL WORLD
      20. CUSTOMER SERVICE IS ALIVE
    6. Chapter 11 - The New Channels of Customer Service
      1. BLOGGING
      2. BLOGGING BELONGS TO YOUR CUSTOMERS
      3. BLOGGING BELONGS TO YOU
      4. TWITTER—FOR THE BIRDS OR TWITS
      5. CUSTOMER SERVICE HAS A NAME, AND IT IS FRANK
      6. COMCAST: THE UN-OBAMA
      7. BLURRING PERSONAL, PROFESSIONAL, AND PRIVATE
      8. SEARCH (AND RESCUE)
      9. LIVE CHAT—THE FUSION OF HUMANS AND ROBOTS
      10. CROWDSOURCING CUSTOMER SERVICE
      11. PUTTING IT ALL TOGETHER
      12. THE REAL ROLE FOR SOCIAL MEDIA
  8. Section III - Making It All Happen
    1. Chapter 12 - Transforming Mouths into Megaphones
      1. IT ALL COMES DOWN TO TRUST
      2. BUILDING AN INFRASTRUCTURE POWERED BY WORD OF MOUTH
      3. RANTINGS, RAVINGS, OR RIFFS
      4. RESPONSE IN REAL TIME
      5. WHEN IS THE RIGHT TIME TO RESPOND?
      6. TWO-FOR-ONE SPECIAL
      7. WHY RESPOND AT ALL?
      8. REVIEWS
      9. RECOMMENDATIONS
      10. REFERRALS
    2. Chapter 13 - To Incent or Not to Incent: Is That the Question?
      1. ARE WE SELLING OUR SOULS TO THE DEVIL?
      2. DANGER: CHARLATANS AHEAD
      3. SPONSORED CONVERSATIONS ARE HERE TO STAY
      4. SURVEY SAYS . . .
      5. TELL THE WORLD: THE SPONSORED REVIEW
      6. YOU SCRATCH MY BACK, I GIVE YOU FREE STUFF
      7. INCENTIVIZATION DOES NOT ALWAYS HAVE TO MEAN COMPENSATION
      8. QUALIFYING AND SEGMENTING CUSTOMERS
    3. Chapter 14 - The New Customer-Activation Model: Content, Conversation, Commendations
      1. UNIVERSAL CURRENCY
      2. THE THREE PILLARS OF ACTIVATION: CONTENT, CONVERSATION, AND COMMENDATIONS
      3. THE 6-C MODEL: A CRASH-COURSE RECAP
      4. CONTENT: THE BACKBONE OF THE 6 C MODEL
      5. SO WHAT CAN YOU DO ABOUT IT?
      6. CONVERSATION: A PERFECT MARRIAGE OF CONTEXT + COMMUNITY
      7. SO WHAT CAN YOU DO ABOUT IT?
      8. COMMENDATIONS: THE DIRECT PATH TO COMMERCE
      9. THE ECONOMICS OF REFERRALS
      10. SO WHAT CAN YOU DO ABOUT IT?
      11. PUTTING IT ALL TOGETHER
      12. WHEN IN DOUBT, LEAVE IT IN
      13. CASHING OUT
      14. TRANSFORMATION
    4. Chapter 15 - The Economic Benefits of Customer Experience
      1. CUSTOMER EXPERIENCE PAYS
      2. SO WHAT’S A SATISFIED CUSTOMER WORTH?
      3. MEASUREMENT GUIDELINES
    5. Chapter 16 - Cultural Sell-through and Organizational Sign-off
      1. WHO OWNS THE CUSTOMER?
      2. ORGANIZATIONAL MELTDOWN
      3. CUSTOMER EXPERIENCE IS BIGGER THAN MARKETING
      4. IT’S ALL ABOUT CULTURE
    6. Chapter 17 - Flip the Funnel for Your Personal Life
      1. PERSONAL BRANDING IS OVERRATED
      2. THE THIRD CUSTOMER
    7. Chapter 18 - I Had a Great Experience—How about You?
      1. CLOSING REMARKS
      2. THE BUTTERFLY EFFECT OF BUSINESS
      3. WE’RE ALL IN THIS TOGETHER
  9. Resources
  10. Index

Product information

  • Title: Flip the Funnel: How to Use Existing Customers to Gain New Ones
  • Author(s):
  • Release date: January 2010
  • Publisher(s): Wiley
  • ISBN: 9780470487853