“Voice of the Customer (VoC) programs have become a strategic asset for most forward-thinking and customer-centric CEOs, CMOs and customer experience leaders,” says Chuck Schaeffer, Go to Market Leader at IBM. “VoC benefits include faster customer resolutions (with fewer hops and escalations) and improvements in customer experience (CX) as evidenced with such metrics as Net Promoter Score (NPS) and customer loyalty. Financial benefits include increases in customer spend, customer share and customer retention.”
https://www.surveygizmo.com/survey-blog/top-5-benefits-of-a-voice-of-the-customer-program/
A business’s brand plays a crucial role in the overall success of a business. A report from Circle Research found 77 percent of B2B marketing leaders believe branding is critical to growth. While the majority of marketers believe good branding is critical, many businesses struggle to identify how to go about defining and building a brand. The same report found a mere 39 percent of B2B companies have a clearly defined brand strategy.
For many businesses, “branding”, is seen as a secondary nicety rather than an essential component to the business. After all, is the perfect logo really as important than keeping the lights on? Evidence suggests it is. B2B companies with a strong brand generate a higher EBIT margin outperforming weak brands by 20 percent.
Consistency is frequently touted as the key to building a successful brand, but consistent in what? Let’s dive into the three types of brand consistency that can boost customer loyalty.
https://customerthink.com/the-three-types-of-brand-consistency-that-drive-customer-loyalty/
Businesses exist to satisfy customers. Without ensuring customer satisfaction, achieving long-term corporate objective would be a mirage. So, the customer is the oxygen that keeps any organization going. But some companies carry on as if the customer is not critical to their existence; they operate as though it is the customers that depend on them and not vice versa. A number of companies, especially those regarded as market leaders, run on the wrong premise that they can do without the customer but that is a fallacy that soon hits them where it hurts the most when the tide changes.
http://www.tribuneonlineng.com/153143/
Research suggests a 5 percent increase in customer retention will boost profits by 20-100 percent across a wide range of industries, which helps to explain why businesses both big and small are so focused on measuring customer loyalty and brand advocacy.
A common method is to simply phone customers after they bought a product or service to ask how satisfied they are. More business-savvy entrepreneurs will frame the question differently, asking customers how likely they are to recommend the brand to others. This produces what’s known as NPS, or Net Promoter Score.
But such bold tactics can be counterproductive and produce inaccurate results - phoning customers can damage the brand, surveys can be misleading and there are more reliable ways for fledgling businesses to track customer loyalty.
https://www.wamda.com/2018/07/measure-loyalty-alienating-customers/
Looking at customer experience (CX) and churn in the SaaS environment from a high level, there’s one theme that stands out from the mix: The fact that we live in what’s called a “switching economy.” The term, coined by economists, describes a current trend impacting switching brands because of dissatisfaction with their experience. It can be a major driver of customer churn—and it’s already creating an incredible economic deficit in the US.
Early reports indicate that more than $1.6 trillion in revenue is up for grabs as “always on” consumers look for brands mastering CX via various channels and touchpoints. What’s more: since 2010, Accenture data shows the switching economy has increased more than 29%—and only 11% of U.S. customers strongly agree that companies are effectively converging their omnichannel experiences. So, what’s driving the switching economy? And how can businesses win back customer loyalty?
https://www.business2community.com/strategy/acing-omnichannel-support-in-saas-02098386/
Customer Success is typically defined as, “ensuring customers achieve their desired outcomes while using your product or service.” If you’re relying on this explicit definition to drive retention and expansion then you’re missing a better opportunity.
The key to scalably accelerating profitable growth is by creating truly loyal customers. And the shortest path to true loyalty is by demonstrating that the people within your company are listening. Here’s why that’s true and how to make this critical, emotional connection with your key customer contacts to strengthen relationships and drive true loyalty.
https://www.business2community.com/customer-experience/are-you-making-this-critical-connection-with-your-customers-to-strengthen-relationships-and-drive-loyalty-02103339/
Genuine customer feedback creates opportunities for companies to earn more loyal customers, those who know that they can speak out about their problems and that they will be addressed.
https://www.providesupport.com/blog/3-ways-to-collect-a-more-genuine-customer-feedback/
"While researching statistics for a presentation earlier in the year, I stumbled upon a recording of an old (2015) webcast done by a longtime customer experience guru, Bruce Temkin. The title of the webcast, “5 Trends That Will Reshape CX Insights,” intrigued me, and I listened expecting to hear some pretty outdated trends. Three and a half years is a lifetime in the digital world, after all.
To my surprise and delight, the trends discussed in the recording, while old(er), are by no means irrelevant. Better yet, they tie directly to the results of a recently released HBR Pulse Survey examining analytics and customer experience. Both highlight the strong connection between analytics and experience. The webcast was predicated on this concept, with all five trends explaining the do’s and don’ts of customer insights for shaping experiences. The survey revealed how little things have changed since 2015, showing that analytics still plays a critical role in experience management. Highlights of the survey include the fact that 60 percent of respondents said they believe real-time analytics drives customer experience while 58 percent credit significant improvements in customer loyalty and retention to analytics."
https://www.cmswire.com/customer-experience/gaining-customer-experience-insights-a-new-twist-on-an-older-list/
Gamification is not a new concept for marketers. As a kid, I remember buying a certain product just to add to my superhero action figure collection! We may call that old-school gamification. Although times and avenues have changed, marketers have implemented the same technique in the online context to achieve an organization’s marketing goals. The goals could be to speed up product adoption (onboarding), boost customer loyalty, or bring in new leads.
Gamification is an application of gaming mechanics in a non-gaming context. It offers users an engaging way to interact with your brand. Speaking from a scientific perspective, gamification works because of the reward-seeking behavior prevalent in the human brain. Our brain releases dopamine - a feel-good chemical whenever we experience pleasure. And as creatures of habits, we feel sheer pleasure when we indulge in a habit. And that’s when our brain releases dopamine, encouraging us to engage in that activity over and over. Gamification borrows from this concept by rewarding users for completing certain tasks.
Let’s look at 5 practical ideas to introduce gamification to your marketing strategy.
https://www.martechadvisor.com/articles/customer-experience-2/5-practical-ideas-to-gamify-your-marketing-strategy/
When it comes to bolstering consumer relationships, loyalty is often the first phrase that comes to mind. The ultimate building block, however, lies in brand affinity, or the emotional connection consumers have towards their favorite brands. When properly leveraged, affinity can help deepen consumer engagement and inspire long-lasting loyalty.
Increasingly, the brands that best resonate with consumers are those that create exemplary experiences—prioritizing personalization, meaningful rewards and seamless interactions. In a crowded marketing landscape, these trends are essential in setting brands apart and igniting brand affinity. A recent survey of consumers around the brands they purchase from most frequently, honed in on what brand affinity looks like, the factors that strengthen consumer ties, and how others can create experiences that move the needle.
Here are three ways to build brand affinity:
https://www.chiefmarketer.com/3-ways-ignite-brand-affinity-build-loyalty/
Bookmarks on this page are managed by an admin user. 
