| Article Check |
Hubs | Hubbers | Topics | Request |
| #1 in Business | Subscribe Email Print |
|
You are here: Home > Business > Customer Service > CEM Can Improve Customer Loyalty |
|
Article Check - CEM Can Improve Customer Loyalty
A New Tool for an Old Job sumers in a better and friendlier manner.Quick! Can you find your homeowner’s insurance policy? How about that warranty you bought for your television last year? Would you know where to begin looking to find your child’s birth certificate? Even more important, if your home were suddenly destroyed due to some natural disaster, would you be able to present your insurance agent with a list of y Managing the customer experience to achieve the correct emotional response for loyalty involves more than the right price or the right product and don’t expect satisfaction alone to be enough. For instance, delight and anger have been noted as emotions that may link better with understanding customer emotions and loyalty. So look at your whole customer experience and ask the question, what emotions are yo Business Philosophy ‘A 5 percent increase in customer retention increases profits by 25 to 95 percent.’Having been in business for myself for almost 20 years, I have found myself analysing the way I have progressed and developed both in business, and as a person, and the word that covers this best is philosophy. If your business is not doing well, then it may be worth taking a look at its philosophy.It may be stating the obvious, but how successf ‘The greater the loyalty of customers, employees, suppliers, and shareholders, the greater the profits reaped .’ This is the received wisdom from experts on the nature and importance of customer loyalty. Yet in a world of product and service commoditization and as the timelag between imitations to innovation declines, how can organizations differentiate themselves to build loyalty? The answer lies with Customer Experience Management creating the ‘emotional responses and connections with products and brands tha are difficult to build in any other way’ . In effect marketing is not just concerned with the uniqueness of the 4 Ps and more focused on the way customers feel about you through the emotions evoked by the customer experience. Need this be surprising, or is this long overdue? after all a dictionary definition of loyalty refers to it as a ‘feeling or attitude of devoted attachment and affection’ . Looking at the evidence from the services sector, the Market Metrix hotel index demonstrates this link between loyalty 'emotions', customer satisfaction and price premiums elicited by the ‘experience of hotel products and services’. 'Guests who experience the loyalty emotions at midscale hotels feel these emotions and they will pay on average $10 more. If they do not feel these emotions, they will pay only about $3 more' A recent Gallup survey further found that: ‘Over a one month period shoppers whom were emotionally connected to a supermarket spent 46 percent more than shoppers who were satisfied but lacked an emotional bond’ For the New York supermarket Wegmans this emotional bond is reflected in the customer experience with well cared for employees at the frontline treating Wegmans consumers in a better and friendlier manner. Managing the customer experience to achieve the correct emotional response for loyalty involves more than the right price or the right product and don’t expect satisfaction alone to be enough. For instance, delight and anger have been noted as emotions that may link better with understanding customer emotions and loyalty. So look at your whole customer experience and ask the question, what emotions are yo Are Employees a Core Competency to build loyalty?Distributorships that dominate the world of distribution by always performing in the upper quartile of their industry and those which will play an even greater role in the foreseeable future generally have characteristics that often create a large and incredibly complex set of independent relationships between highly diverse groups of people. Problems The answer lies with Customer Experience Management creating the ‘emotional responses and connections with products and brands tha are difficult to build in any other way’ . In effect marketing is not just concerned with the uniqueness of the 4 Ps and more focused on the way customers feel about you through the emotions evoked by the customer experience. Need this be surprising, or is this long overdue? after all a dictionary definition of loyalty refers to it as a ‘feeling or attitude of devoted attachment and affection’ . Looking at the evidence from the services sector, the Market Metrix hotel index demonstrates this link between loyalty 'emotions', customer satisfaction and price premiums elicited by the ‘experience of hotel products and services’. 'Guests who experience the loyalty emotions at midscale hotels feel these emotions and they will pay on average $10 more. If they do not feel these emotions, they will pay only about $3 more' A recent Gallup survey further found that: ‘Over a one month period shoppers whom were emotionally connected to a supermarket spent 46 percent more than shoppers who were satisfied but lacked an emotional bond’ For the New York supermarket Wegmans this emotional bond is reflected in the customer experience with well cared for employees at the frontline treating Wegmans consumers in a better and friendlier manner. Managing the customer experience to achieve the correct emotional response for loyalty involves more than the right price or the right product and don’t expect satisfaction alone to be enough. For instance, delight and anger have been noted as emotions that may link better with understanding customer emotions and loyalty. So look at your whole customer experience and ask the question, what emotions are yo Starbucks: The Modern Day Coffee Phenom tion of loyalty refers to it as a ‘feeling or attitude of devoted attachment and affection’ .Starbucks: The Mastery Behind the MarketingStarbucks is a modern coffee mecca-empire that seems to be on the lips of every corporate yuppie in America. And this is not by coincidence, it's by careful marketing design. Why has Starbucks been such a great example of corporate branding success?Starbucks Coffee and Cafes op Looking at the evidence from the services sector, the Market Metrix hotel index demonstrates this link between loyalty 'emotions', customer satisfaction and price premiums elicited by the ‘experience of hotel products and services’. 'Guests who experience the loyalty emotions at midscale hotels feel these emotions and they will pay on average $10 more. If they do not feel these emotions, they will pay only about $3 more' A recent Gallup survey further found that: ‘Over a one month period shoppers whom were emotionally connected to a supermarket spent 46 percent more than shoppers who were satisfied but lacked an emotional bond’ For the New York supermarket Wegmans this emotional bond is reflected in the customer experience with well cared for employees at the frontline treating Wegmans consumers in a better and friendlier manner. Managing the customer experience to achieve the correct emotional response for loyalty involves more than the right price or the right product and don’t expect satisfaction alone to be enough. For instance, delight and anger have been noted as emotions that may link better with understanding customer emotions and loyalty. So look at your whole customer experience and ask the question, what emotions are yo Trends Worth Billions – Consumer Demand Drives the Speed of Business (Part 3 of a 3-Part Series) If they do not feel these emotions, they will pay only about $3 more'With our daily time frames accelerating and demographics shifting, the need for businesses to get on top of their game becomes ever more important. For example, while the pizza trend took a couple of decades to get firmly rooted in our culture, consider how quickly the cell phone has become an essential ‘gotta have one’ product. And camera phones, the A recent Gallup survey further found that: ‘Over a one month period shoppers whom were emotionally connected to a supermarket spent 46 percent more than shoppers who were satisfied but lacked an emotional bond’ For the New York supermarket Wegmans this emotional bond is reflected in the customer experience with well cared for employees at the frontline treating Wegmans consumers in a better and friendlier manner. Managing the customer experience to achieve the correct emotional response for loyalty involves more than the right price or the right product and don’t expect satisfaction alone to be enough. For instance, delight and anger have been noted as emotions that may link better with understanding customer emotions and loyalty. So look at your whole customer experience and ask the question, what emotions are yo Brand Promise, Do You Deliver? sumers in a better and friendlier manner.Recruit the right staff and coach them to deliver.For the past few years, the media has been sharing businesses’ complaints about the lack of qualified workers. Recruiters and business leaders moan about poor work histories, poor skills, and poor attitudes. The labor pool is overflowing with poor quality candidates. What’s a business to do?< Managing the customer experience to achieve the correct emotional response for loyalty involves more than the right price or the right product and don’t expect satisfaction alone to be enough. For instance, delight and anger have been noted as emotions that may link better with understanding customer emotions and loyalty. So look at your whole customer experience and ask the question, what emotions are you evoking and will these be valuable, detrimental or could they be reengineered in such a way as to promote a loyalty inducing experience. By Colin Shaw Research Reference
HTTP = HTML link (for blogs, profiles,phorums):
Related Articles:Business Growth Tips: A Roadmap to Business Growth & A Prosperous Future Pricing A Business For Sale - Key Factors All Play A Role! Career Planning for Gifted Adults
|