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.
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.
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.
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.
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.
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.
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.
Otto Hektor says marketing teams must reach consumers across every channel, on all the devices they use, and wherever they are. Furthermore, marketers must make sure the messaging on every channel reflects the true core of the brand, and that each execution adheres to brand guidelines: in look, feel, and tone. The key according to Hektor, is delivering a relevant experience on each channel, and in each moment. Being truly relevant in omnichannel means, giving consumers the ability to choose whatever channels they want to interact with – through the places and devices they use – and delivering a convenient experience, that resonates with whatever is happening at that moment. Providing a seamless omnichannel experience, that is not predictable/boring to the consumer, means becoming comfortable with bringing different executions of the same idea to different touch points. Hektor suggests that companies:
• Reveal their personality: brands with true personality enrich consumers’ lives through experiences that are fresh, engaging, and in the moment.
• Make a scene: encourage consumers to download apps and use other devices to enhance interactions, giving customers a reason to explore the brand’s product/service offerings.
• Curate and connect: notice trends taking place in the industry, an example is: consumers are increasingly communicating through pictures, not words, utilizing likes and offerings such as “Like2buy”
• Deliver surprise: because the goal isn’t to deliver static, predictable experiences, the goal is to tap into the variety surprise, and wonder of everyday life.
Read the full article at imediaconnection.com.
When customers expect immediate responses, high level services, and 60% of brands are finding it difficult to please their customers, there is a need for a company like Satisfi to offer real time customer service solutions. Our platform, assists companies in creating a smooth, unified customer experience; across multiple communication channels. Check out the slideshow by Dennis McCafferty to see how customer expectations are pressuring companies, and why there is a need for the platforms Satisfi offers.
See full slideshow at baselinemag.com.
Everyday it is becoming increasingly more critical for brands to meet consumer expectations, across multiple touch points, and serve their ever changing needs: preferences, and in-store behaviors. In this post Devika Girish talks about how personalization has evolved from a nice-to-have retail strategy, to a must-do mandate; that may be more effective at attracting customers than price-cutting. Consumers today, are actively seeking out brands that not only are authentic and act on their promises, but also offer genuine value adding services. According to a recent Adobe survey, 71% of consumers reported that they like receiving personalized offers, but 20% said these offers are not well done, and another 20% felt that today’s personalization strategies are becoming too intrusive. Girish goes on to list the most common consumer touch points (including physical and digital elements, as well as points involving both technology and people) to help get a better picture of personalization from an in-store perspective; her list includes:
1. Mobile Apps: Engage customers with interactive content: personalized product recommendations, and push notifications based on in-store location and behavior.
2. Sales Associates
3. In-Store Marketing: By having an in-store intelligence platform in place (beacons), retailers can turn rich customer data into actionable information; by identifying in-store patterns that can help promote sales
4. Customer Loyalty Program: Intertwine technological tools with engaging loyalty programs that meet the everyday needs/preferences of consumers.
5. Targeted Marketing Campaigns: Personalization based on information that retailers gather from various channels and in-store, such as: visit frequencies, dwell times, past purchases, and so on.
Read the full article at linkedin.com.