How To Develop Customer Loyalty For Your Product Or Service

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In both the B2B and B2C space, companies can benefit greatly from efficient customer loyalty strategies. In fact on average, loyal customers are worth up to 10 times as much as their initial purchase. Chuck Cohn says, in order to increase the likelihood that your company sees, and benefits from, this repeat business, consider implementing these three measures:
1. Develop a positive feedback loop
• One of the best ways to encourage customer loyalty is develop a positive end-to-end user experience that makes your consumers return again and again.
2. Listen to and respect customer feedback
• Aim to provide a forum or other means of communication between you and your current and future customers.
3. Utilize data and metrics to analyze and encourage loyalty
• Utilize technology platforms to track consumer information, including how, when, and what they buy.

Read the full article at forbes.com.

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Making CRM part of your customer engagement strategy

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CRM products and software can help solve customer engagement issues/difficulties in one or more areas. As technology advances CRM tools and strategies play an increasingly important role in the success of all organizations today. In fact when used efficiently these tools and strategies can help companies find, catch, and retain customers. In this post Brent Leary talks about the different ways CRM can be used to enhance customer engagement. Customers and prospects alike transmit thousands of digital signals via tweets, comments and reviews each day; explaining what is important to them. It is crucial to collect these signals and find meaningful insights from them. CRM tools can use these insights to strategically send personalized content, based on different kinds of data (demographics, firmographics, and buying habits), at the right time and create a consistent experience across sales channels.

Read the full article at searchcrm.techtarget.com.

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Embracing Mobility and Improving Customer Service

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The growth of mobile technology and the use of smartphones/tablets can be leveraged by companies to provide excellent customer service. Mobile devices can be used to improve productivity, enhance the ability to communicate, and reduce operational costs. More importantly than saving your company money on costs, these devices can be used to dramatically improve customer experience. Mobile technology and devices can help:
– Create faster, more efficient processes
– Offer Real-time communication and GPS
– Improve customer experience on site
– Access important information on the job

Read the full article at business2community.com.

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Omnichannel Marketing in a Nutshell

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Omni channel marketing requires, multiple marketing channels constantly working together; to create and deliver an amazing, seamless user experience. The fact is, if channels don’t work together it is not omnichannel. According to Google, 25% of shoppers start on a PC but eventually move to a mobile device. Consumers no longer use one channel to research, shop, and buy. They may research the product or service online via mobile device, tablet, desktop, or all of the above. Even in the B2B space, companies are researching products, services, and people behind the brands; using multiple channels/devices. Consumers have the ability to jump from a smartphone, to a tablet, then to a laptop within minutes; and expect brands to design a user experience that is personal, relevant, and seamless across all devices.

Read the full article at business2community.com.

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The Top 7 Customer Retention Tips for Today’s Data-Driven Marketers

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One way to help businesses generate revenue from both existing and new customers, is customer retention. Marketers today are investing more time and marketing dollars to cultivating customer retention, because it is the right bet for a healthy and sustainable company. According to Bain & Company, increasing customer retention rates by just 5% , increases profits by 25-95%. In this post Jerry Jao gives us 7 examples of what positive customer retention strategies can offer. These strategies allow companies to:
– Build Trust
– Add real value
– Show your personality
– Listen attentively
– Surprise and delight customers
– Build loyalty
– Enhance Customer Service

Read the full article at entrepreneur.com.

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Here Are the Customer Service Practices You Hate the Most

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Too often, customer service is indifferent, incompetent, or both.
Although recent statistics and surveys indicate that consumers are less likely to be irritated by customer service than they were in past years, many companies today are simply awful at resolving customer service problems, says Scott Broetzmann (President of Customer Care Measurement & Consulting). Broetzmann also says customers spend valuable time and invest considerable effort, yet get little in return. In this post Brad Tuttle lists the practices and behaviors that get customers most annoyed when it comes to customer service; his list includes:
• 75% of people say they’re “highly annoyed” when they can’t get a live person on the phone to help with their problem.
• 75% are highly frustrated by rude or condescending responses/employees.
• 74% of people have been disconnected when placing calls to customer service lines.
• 70% of people have been transferred to a different customer service agent – who also can’t help or is just plain wrong.
• 68% of people have found that companies do not make it easy to find customer service phone numbers, contacts, etc.
• Two-thirds of consumers have experienced long wait times, phone trees that require callers to press multiple buttons, and require the person to repeat personal information over and over again.

Read the full article at time.com.

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Bank branches are not dead: But need to play complementary role in an omni-channel strategy

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Although many have said that advancing technologies will be the death of bank branches, these predictions have little bearing on reality. Just as the rise of new technology has threatened the bank branch in the past few years, it also holds the key to their continued relevance. By implementing the right solutions a bank can ensure that its branches are cost-effective, and play a role in offering excellent customer experience. In this post FirstPost discusses the current challenges faced by banks in managing their branch networks, and outlines the best ways to transform them. In the past, the branch was the fulcrum of the bank’s relationship with its customers, but now with the rise of mobile and online banking, bank branches need to play a complementary role in an omni-channel strategy. FirstPost goes on to write how the branch needs to support other channels where appropriate, and deploy its unique asset of face-to-face contact at every opportunity. Enterprise mobility technology, is enabling branches to move away from transaction processing centers and toward value-adding sales and advisory channels. Tellers behind glass barriers are being transformed into roving sales people equipped with tablets, allowing more customer information to be captured by the bank and providing a more interactive customer experience. As fewer people visit branches, banks need to ensure that they extract maximum revenue from every visit. Branches need to move away from passive transaction processing activities and toward high-value sales, marketing, and relationship building.

Read the full article at firstpost.com.

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5 Things That Are Killing Your Customer Experience

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Companies must realize that a key aspect of getting repeat business is customer experience. It takes a daily effort and hard work, in order to earn business and maintain relationships with your customers. Blake Morgan, says usually once a company has a customer, they are not willing to deal with what it takes to manage that relationship. Morgan explains, how companies are in a relationship with its customers, and relationships take work. Customer experience is a way companies can differentiate from competitors; don’t let poor customer experiences bring your brand down. Check out the rest of the article for what Morgan says, are 5 customer experience killers.

Read the full article at forbes.com.

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6 Things Every CEO Should Know about Customer Service

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In this post Tricia Morris shares 6 things all CEO’s should know and understand about customer service:
1. It’s a challenging role
– Customer service is the voice of your brand and many times, the first impression of it post sale.
– According to Aspect Consumer Experience Survey, 76% of consumers surveyed view customer service as the true test of how much a company values them.
2. If it’s considered a cost center, you’re probably doing it wrong.
– According to NewVoiceMedia, U.S. companies lose an estimated $41 billion alone each year due to poor customer service.
3. It’s a brand and CEO differentiator when you’re doing it right.
4. It’s where most customers end their purchase or relationship, if they have a bad experience.
– In a recent State of Multichannel Customer Service Survey commissioned by Parature, from Microsoft, 65% of 1,000 consumers surveyed said they’ve cut ties with a brand over a single poor customer service experience.
5. It requires an investment in the right people and the right resources.
– According to the most recent Gallup State of the American Workplace report, “When organizations successfully engage both their employees and their customers they experience a 240% boost in performance
6. Everyone, including the CEO, should be a customer service representative

Read the full article at business2community.com.

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How to Increase Customer Engagement Just By Doing Customer Service Right

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Companies must recognize that whether they are selling a product or a service, they must utilize customer service to support their sales. Customer service offers opportunities to engage clients and meet expectations, therefore companies must strive to create greater engagement; utilizing the resources and tools they already have. Although decision makers are searching for and inventing new ways/tools for boosting customer engagement, Maria Lebed says, simplicity is the key for greater performance and greater results. Lebed also describes ways companies can look at how the business is organized and functioning in order to find what can be done better; optimizing current procedures. If you want to create a stronger bond with your clients and prospects, take a look at how you are delivering customer service right now. Three ways to do this include:
1. Make it convenient for customers to get customer service
– According to CEB Tower Group research: 84% of customers, when approaching customer service are focused on successful resolution of their problem.
2. Make sure customer service initiatives are consistent through all levels of the team
– Misalignment between different levels of the teams, leads to many lost opportunities.
3. Pay attention to the customers’ data you are gathering and how you are using it
– To create trust with customers, and inspire them to conduct business with your company, it is necessary to maintain the right balance between collecting customers’ personal information, and keeping their interactions with you simple and non-obtrusive

Read the full article at business2community.com.

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