Many companies are looking for ways to delight the customer or provide the customer with a “WOW” experience. There are many marketing research organizations that provide all sorts of metrics to demonstrate how the customer experience is improving.
Customer loyalty is not always based on rational thinking. Customers often make decisions based on feelings and emotions. The old adage that the first impression counts has been verified by the psychological research.
In today’s business climate the connected customers are seen as people who are highly educated and technologically social and mobile. A study was commissioned by Kitewheel and was conducted by the independent research firm Strategic Marketing Research, Inc. in 2014 to study ongoing efforts by companies to reach their connected customers individually.
There has been some interesting work done by Dr. Daniel Kahneman, a professor at Princeton University in the area of behavioral economics. One of the phenomena that he has written about, and which has been given much attention is the peak–end rule. This rule provides some excellent guidance for building customer loyalty.
Loyalty programs that include both men and women must consider the way that men and women view loyalty. Even though many companies see the marketplace from a unisex perspective, genetics and chemistry demonstrate that differences do exist between sexes.
A recent report published by the Aberdeen Group presents some interesting statistics regarding the value of customer analytics. The author of the report was Omer Minkara. The bottom line is the statistical improvement in performance that is consistently demonstrated by companies using customer analytics compared to those who do not is no longer questionable.
The results of the 2014 State of Multichannel Customer Service Survey have been released. The same parameters of time and speed-of-answer are still prominent. The survey sampled responses of 1,000 U.S consumers and noted the following statistics which are consistent with past data:
The bottom line is the customer satisfaction is not as simple as it used to be. No longer are customers uniquely loyal to only one brand. Certainly, it is important to maintain customer satisfaction, but the satisfaction scores by themselves are not sufficient to ensure sustainability and growth.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.