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.
The Rewards of Analyzing Your Customer
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.
Social Media is Changing the Game
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:
Is Customer Loyalty the Same as Retention?
Loyalty looks at building a relationship between a business and its customers. On the other hand, retention is about customer preservation.
The Customer Satisfaction Conundrum
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.
A recent study from Colloquy found that more than 50% of customers who initiate a loyalty program failed to return. Customers become zombies when they lose interest in the company, product or service.
Does Your Business Have a Customer Culture?
The bottom line is that the customer experience continues to be validated as a significant indicator of a company’s success or failure. These seven factors are key components for describing how well the company’s culture is tuned to their customers.
A Basic Assumption of Customer Satisfaction: Reconsidered
One of the basic assumptions that have been considered sacrosanct is high levels of customer satisfaction lead to increased market share. Some recent research suggests that there this assumption may not be universally true.
Loyalty is a 2-Way Street
Most companies involved in retail or commercial sales are always looking for customer loyalty. It seems that companies often forget there is another side to loyalty. The other side of the relationship is being loyal to your customers.
An Update on Customer Rage
The WP Carey School of Business at Arizona State University has published the 2013 update of the customer rage study. The 2013 version is the sixth study wave. A general conclusion from the study is that if a company handles a complaint well, the customer is more likely to become loyal.