As we come to the end of another very challenging year, let's take a moment to reflect on all the positive aspects instead of the negative side. We made it. We overcame the obstacles. We've all lived to fight another day and another battle. And we live in one of the greatest cities in the world...still! During this time of year, we think about the greatest gift and promise received on Christmas Day, the true meaning of Christmas, and then begin to look ahead to a new year wit

What was he talking about? Simple, and it's a very common question that most businesses ask periodically, why do my customers leave? As you can see by the data in the chart on the left, the #1 reason is that customers feel that you don't care about them! All the other reasons for leaving are mostly, although not completely out of your control. But the biggest reason? It's entirely in your hands and control! Take advantage of that fact and take control of your customers by add

All of us at Datatrade wish our clients, friends, families, and business acquaintances a very Happy Thanksgiving. We're thankful for having all of you in our professional lives and thankful for our mutual health, safety, and continued success, even in these difficult and challenging times. Enjoy your day!

Frankly, I've missed sharing information and news with all of you, and need to apologize for my absence. The combination of pandemic restrictions, working on major new projects for our Japan business, and teaching undergraduate and MBA programs at HKUST has kept me pretty well occupied! But now I'm back! And it's a great time to be back, as I've just shared with you the great news of Datatrade becoming ISO certified, achieving a level of excellence recognized by THE worldwide

When Datatrade began operations 38 years ago, a commitment was made to excellence. That excellence referred to our services to clients, our ability to generate top and bottom- line growth to clients, our products, and all of the excellence of delivery was predicated upon world-class, best-practices processes and procedures, all developed and refined in-house. Thus, we always knew our management systems were outstanding, but this year we took the extra step of subjecting ourse

IF YOU CAN ANSWER “YES” TO THESE TWO "TEST" QUESTIONS YOU MAY QUALIFY FOR UP TO HK$4MM IN #FREEFUNDINGASSISTANCE FROM THE HONG KONG GOVERNMENT! 1. Is your business is based in Hong Kong, but your target customers are in Mainland China, or any other ASEAN country? 2. Would you like to increase your budget for either or all of the following: branding/marketing; upgrading your tech platforms; or supercharging sales? If you answered “yes” to those questions, then you’re on your w

Yup, I know, I know. I've been gone a long time, and for that I apologize! I could say that it was the whole COVID-19 syndrome and take the easy way out, but that wouldn't be honest. The sad truth is that I'm just as lazy as the next person! And of course, when you add in the very real COVID-19 situation, the fact that I have a very heavy teaching schedule at HKUST, a "day" job here at Datatrade, and other responsibilities, I could come up with many valid sounding and believa

All of us at Datatrade Group wish everyone a 2020 that brings good health, happiness, peace, joy, and of course success in all your endeavors! Let's work together to make it all happen!

Like most companies, you've probably wondered and debated what's the best way, or "right" message to convey to your customers during this time of year. Should the message include the word "Christmas"? Should it be generic and "inclusive"? All good and valid questions, no doubt. However, perhaps when debating these issues you should instead concentrate on the intention and objectives of the greeting instead. What is it that you really WANT to say to your customers? Isn't the p

If you still need to be convinced to either start a loyalty program or ramp up an existing program, then these new statistics from the latest research should get your juices flowing, they're amazing! Here are my personal favorites: 58.7% of internet users believe earning rewards and loyalty points is one of the most valued aspects of the shopping experience. 87% of customers are willing to have various details of their activity tracked in exchange for more personalized reward

That famous saying goes on to say "if not now, then when?" And do you know what? It's not only timeless and spot on, but it's especially timely for the days we're living in right now in Hong Kong. Now is the time more than ever that your customers need to know where YOU stand, meaning RIGHT THERE with them, supporting them, understanding them, feeling their pain and frustration, and continuing to stand ready to serve and deliver. Loyalty is always most important during times

Good grief! How many times and in how many different ways can companies turn off their best customers? The answer seems to be "in endless ways"! Just yesterday I received an email from a company of which I've been a customer (a really really good customer) for almost 20 years. Yup, twenty years. Not only a customer, but a member of their so-called loyalty program. I say so-called because it's not really an incentive packed program that drives loyalty, at least in my professio

Well gee whiz! Doesn't that sound like a common-sense and reasonable approach to marketing? Isn't that Marketing 101? Indeed it is. So if the above is true, why do I constantly see companies sending the "Same message to everybody at the same time"? I guess we could debate this question for days without coming up with a decent answer, but since we only have a couple of minutes of reading time, let's go for the most obvious answers, OK? First, let's stipulate that people, espec

Have any of you read a great book called "The Flipside - Finding the Hidden Opportunities in Life"? It's by Adam J. Jackson, a well-known therapist. As a psychologist myself, I read a lot of books, but must say that this one is a keeper that can and should be read multiple times. What made me think of this is our current situation in Hong Kong and all the "problems" associated with the situation. We all have a list of these items, from the most troublesome and worrisome to th

OK, let's get real! We can all agree that while we don't want to marry our customers, we'd sure like to be their fiance, right? Because that means that we'd be "engaged"! And what's the one word you constantly hear when the topic turns to customer retention? That's right, "engagement". Well, here's an easy and cost-efficient method for creating and maintaining #engagement...ask your customers questions that will help you market to them more efficiently, and REWARD them with s

#Greenwashing, poorly executed CSR initiatives and Damage Control have all caused huge trust issues in many markets, especially in countries like China. Research shows that the phrase 'Corporate Social Responsibility' has started having negative effects on the willingness of consumers to buy. The days of building businesses on the sole premise of making money are now over. New generations of consumers have higher expectations; they expect their purchases to not only have valu

Many clients have asked me, over the years, how important is my brand for #customerretention? Of course it's important, and perhaps today more than ever before. Why? Because #branding has evolved beyond just a name, logo, and mission statement, into an area we now call #brandactivism. Customers today, perhaps for the very first time, want to know, in fact demand to know "what does your brand STAND for?" Customers feel more comfortable associating with brands that reflect thei

Let's take the last part of that question first...YES! Absolutely. Random reinforcement is a psychological principle that has been proved scientifically over many decades to change behavior in the direction desired. It's part of the psychology of behavior modification and it's called "conditioning". And as I've said in previous posts, changing customer behavior is what we all strive to do, right? So let's look at an example we can all relate to in order to understand and see

People seldom remember what you said, and they seldom remember what you did...but they ALWAYS remember how you made them FEEL. Bake this into your communications platform, or better yet, let us do that for you, and reap the rewards!

Boy, if I had a dollar for every time I've heard that question asked I'd be rich! OK, I wouldn't really be rich, but for sure I'd have more than $500! It's just a very common question that seems to be on the minds of lots of folks looking for answers to this thorny question. Of course the easiest method is to quantify what an improvement in customer retention can do to your bottom line, and in most industry verticals it's not that difficult to calculate. We've helped calculat