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Customer Loyalty

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January 2013 was Customer Loyalty month at 360Connext. Highlights and best stats from our blogs.

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Customer Loyalty

  1. 1. This month, we held up our Customer Experience InvestigatorTM Magnifying Glass to Customer Loyalty. What causes it? Why is it important? We’ve gathered to best from our investigations and shared them with you here.(Cue the Law & Order chime!)
  2. 2. Customer loyalty, we debated, is fleeting, fickle and difficult to maintain.• A recent statistic from Oracle shows 82% of people describe their experience as taking too much effort.• Chances are, your customer experience is NOT the easiest.• Some commenters argued this was just false. Where do you stand?
  3. 3. “Problem” customers can cause companies lots of money. They do this bycalling the customer service line too often, returning items too frequently,and walking into the bank instead of using the online services.• Sprint made headlines by sending 1,000 of these “problem” customers breakup letters rather than keep them as customers.• Companies need to be profitable, but are there ways to do this without dumping the very customers you wooed in the first place?
  4. 4. “You’ve got to give loyalty down, if you want loyalty up.” Donald T. Regan, amember of President Reagan’s administration, said this many year ago, butit still applies today.• Companies often treat new customers better than loyal ones. This doesn’t recognize and reward your most profitable customers!• Companies rely on customer apathy, instead of proactively creating a positive, long-term relationship.
  5. 5. We all love feeling appreciated. Here are some great examples of thoseorganizations doing it well.1. Surprise with random, small rewards for customers!2. Go above and beyond for an unusual request!3. Be who you are, everywhere, and to everyone.The best part? We heard from some of these brands to say thank you. That’sengagement!
  6. 6. 81% of consumers are prepared to pay more for a better customerexperience!1• Customer experience is about so much more than reacting to customer service issues.• The experience has to do more than “justify” loyalty – it has to earn it.• Experience evaluation is a critical first step. 1. Oracle: Why Customer ‘Satisfaction Is No Longer Good Enough; 2012 CX Index Report Europe
  7. 7. Customer acquisition math is pretty easy. Customer loyalty math is not.• Customer Lifetime Value (CLV) is a complex formula, but important.• Customer churn rate is straight-forward and gives a pretty good indication of how you’re doing hanging on to those important, loyal customers.
  8. 8. Customer experience issues can risk loyalty and profits.• Mistake: Putting process over people.• Mistake: Tracking the wrong metrics.• Mistake: Endorsing customer neglect.What do you think of our proposed solutions to these common errors?
  9. 9. American Airlines rebranded and called it a customer experience improvement.• The logo has little to do with the experience customers receive.• Customers vocally declared this was fixing the thing that wasn’t broken.• Looking from the inside-out will never produce the results your customers want.
  10. 10. We love microinteractions! They are those small moments that improve ordetract from a great experience.• For more, check out the TEDx talk about this.• A clever web developer in France created a playable version of the game Lemmings for his 404 page.• It was a hit! This was shared and played globally thanks to the fun it created.
  11. 11. Thanks to our community for joining us in our discussions about customer loyalty all month long! Want to join in?@jeanniecw Google+ Pinterest360Connext CXI® Club InstagramJeannie Walters 360Connext.com RSS @360Connext

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