Reading Matching
Questions
Reading 1/1:
Read the passage and choose the correct answer (A, B, C, or D)
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satisfaction, and loyalty.
1. Relationship marketing is a business strategy that builds and nurtures long-term personal connections between your brand and your existing customers, increasing engagement,
With increasingly expensive customer acquisition costs, customer retention is one of the most critical factors in a company's success. According to Semrush, the probability of selling to an existing customer is between 60% and 70%. In contrast, the likelihood of selling products or services to a new customer is only between 5% to 20%.Relationship marketing is a force multiplier. How? Quality customer experiences deepen the trust and devotion customers have for your brand. Interacting with repeat customers through ongoing conversations creates bonds that competitors struggle to break. The result: Long-term customers who increase your customer lifetime value exponentially and even generate new leads.
Let's dive in and showcase three businesses that are HITTING IT OUT OF THE PARK.
2. PATAGOΝΙΑ
Patagonia has created a brand identity that solidifies its standing as an environmentally conscious business, appealing to consumers who value using organic and recycled materials. They have proven it by encouraging customers to purchase used Patagonia clothing rather than new. They have also offered customers clothing repairs from a mobile repair shop, mending broken zippers and tears and offering DIY solutions -- without charge.
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Like-minded consumers believe that Patagonia stands for a higher purpose than turning a profit and are inspired to support a brand that concretely demonstrates their values.
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3. STARBUCKS
Starbucks helped make getting a cup of coffee what it is today. Starbucks is a cultural icon as it is a business, showcasing its ubiquitous cups in social media posts on Instagram, Facebook.Twitter, and Pinterest. For example, Starbucks' tagline on Pinterest reads. "Inspiring and nurturing the human spirit - one person, one cup, and one neighborhood at a time.Starbucks sends frequent emails to their customers, informing them of offers and product launches. They also share customer content on their social channels. Their tight-knit community often lines up before sunrise for the chance of obtaining their latest holiday-themed cup or specialty beverage.
4. T-MOBILE
To capture the elusive millennial market, T-Mobile began offering consumers mobile service without contracts. This approach [unorthodox for telecom carriers] proved wildly successful.improving customer satisfaction, engagement, and referral business.T-Mobile provided weekly thank-you gifts and customer rewards to participants. In addition, they focused on their mobile app, offering reward redemption opportunities and targeted offers that captured customers' attention and enhanced engagement. According to Nielsen, T-Mobile went from Number Four to Number One in customer service satisfaction as a result.
1) Which of the followings is the best title for this passage?A
. The pros and cons of relationship marketing
B. Marketing tips for new businesses
C. How businesses apply relationship marketing D. The importance of building business relationships
2) Which of the followings is NOT an activity that Patagonia has done?
A. repairing customers' broken zippers and tears
B. offering customers clothing repairs at their home
C. offering free DIY solutions D. encouraging customers to buy its used products
3) What makes customer retention among the most crucial factors for the success of a company?A. The estimation of customer acquisition costs is becoming more and more important.B The probability of selling products to current customers is not as high as that to potential customers
