January 2013 was Customer Loyalty month at 360Connext. Highlights and best stats from our blogs.
CUSTOMER LOYALTY:January, 20131
This month, we held up our Customer Experience InvestigatorTM Magnifying Glass to Customer Loyalty. What causes it? Why is it important? Weve gathered to best from our investigations and shared them with you here. (Cue the Law & Order chime!)
Is Loyalty Dead?Customer loyalty, we debated, is fleeting, fickle and difficult to maintain.A recent statistic fromOracleshows82% of people describe their experience astaking too much effort.Chances are, your customer experience is NOT the easiest.Some commenters argued this was just false. Where do you stand?
The Problem With Problem CustomersProblem customers can cause companies lots of money. They do this by calling 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?
Customer Loyalty: Is It A Two-Way Street?Youve got to give loyalty down, if you want loyalty up. Donald T. Regan, a member of President Reagans administration, said this many year ago, but it still applies today.Companies often treat new customers better than loyal ones. This doesnt recognize and reward your most profitable customers!Companies rely on customer apathy, instead of proactively creating a positive, long-term relationship.
3 Inspired Ways To Earn LoyaltyWe all love feeling appreciated. Here are some great examples of those organizations doing it well.Surprise with random, small rewards for customers!Go above and beyond for an unusual request!Be who you are, everywhere, and to everyone.The best part? We heard from some of these brands to say thank you. Thats engagement!
Execs Still Dont Get Customer Experience81% of consumers are prepared to pay more for a better customer experience!1Customer 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
The ROI of a Loyal CustomerCustomer 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 youre doing hanging on to those important, loyal customers.
3 Customer Experience Mistakes and How To Fix ThemCustomer 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?
When Inside-Out Trumps Outside-In, Customers LoseAmerican 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 wasnt broken.Looking from the inside-out will never produce the results your customers want.
Microinteraction of the MonthWe love microinteractions! They are those small moments that improve or detract 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.
Thank you! Thanks to our community for joining us in our discussions about customer loyalty all month long! Want to join in?