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TechTrends e-Newsletter I March 2003 Page 4 of 6 <br /> For more information: www.minnesotatechnolocy.org/events/TechForums <br /> • May 7 <br /> Minnesota High Tech Association Partnering &Collaboration Conference <br /> Topic: Partnering and collaboration in today's business environment <br /> Location: Minneapolis <br /> For more information: 952-230-4552, e-mail: tvolpe @mhta.orq <br /> www.mh ta.org <br /> May 19-20 <br /> Minnesota Venture Capital Conference <br /> Location: U of M Radisson Hotel, Minneapolis <br /> Cosponsored by NetSuds and Minnesota Technology, Inc. <br /> For more information: www.mnvcc.com, e-mail: matt(@mnvcc.com <br /> May 21-22 <br /> International Business Development Conference <br /> Location: U of M Radisson Hotel, Minneapolis <br /> Cosponsored by NetSuds and Minnesota Technology, Inc. <br /> For more information: www.ibdconference.com, e-mail: matt @mnvcc.com <br /> Pet .,atet ve <br /> Customer Loyalty-An Emotional Subject <br /> By Kim Rock <br /> Holding onto a customer has never been harder-or more important. <br /> • According to a recent Gallup research study, the key to wooing <br /> customers isn't price or even product. It's emotion. You've probably <br /> read that the cost of acquiring new customers can be five times the <br /> cost of servicing established ones. Well, today's challenge is to move <br /> customers from being simply satisfied to being rationally loyal and <br /> finally to being emotionally engaged with your product. By doing so, <br /> you create deeper and far more profitable relationships with your clients. <br /> Here are the Gallup questions that cut to the heart of customer loyalty: <br /> • Overall, how satisfied are you with (brand)? <br /> • How likely are you to continue to purchase (brand)? <br /> • How likely are you to recommend (brand) to a friend? <br /> • (Brand) is a name I can always trust. T/F <br /> • (Brand) always delivers on what they promise. T/F <br /> • (Brand) always treats me fairly. T/F <br /> • If a problem arises, I can always count on (brand) to reach a fair and <br /> satisfactory resolution. T/F <br /> • I feel proud to be a (brand) customer. T/F <br /> • (Brand) always treats me with respect. T/F <br /> • (Brand) is the perfect company for people like me. T/F <br /> • I can't imagine a world without (brand). T/F <br /> In short, brand loyalty is more than a simple preference for one product over <br /> • another. <br /> Gallup's research has revealed three powerful ways managers can create passionate <br /> customers: <br /> http://www.minnesotatechnology.org/publications/techtrends/2003/March/printVersion.asp 5/16/2003 <br />