The holiday season is in full swing. And while most ecommerce businesses have been preparing for this for months already, we can’t help but notice that many of these same businesses are missing one important element in their strategies. Sure, they’ve optimised their mobile apps, set up various discounts and promotions to reel customers in, and updated their merchandising strategies…But what about the customers? How are they experiencing the holiday rush? Are there certain funnels in which they’re struggling?
https://mopinion.com/tis-the-season-for-customer-feedback-heres-why/
“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/
In many conferences in 2017, the buzz has all been around the customer experience, customer journeys or customer engagement. These topics come up in almost every presentation in a banking, hospitality, marketing or retail conference. However, there was little linkage between these “buzz” topics with loyalty nor branding. There is a correlation between the customer experience and how that impacts loyalty and an organisation’s brand. How does a brand inspire loyalty and how does the customer experience elevate a brand?
http://www.marketing-interactive.com/features/synchronizing-loyalty-customer-experience-and-branding/
Asking for customer feedback gives valuable insight into how your customers perceive your brand. Whether it’s positive or negative, you can use the collected information to adjust and provide a better experience. It also results in a stronger seller-buyer relationship since customers’ opinion are valued and appreciated. So how and where do you collect this precious feedback?
https://mopinion.com/how-to-use-email-marketing-to-get-feedback-from-loyal-customers/
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/
For every retailer, creating loyal customers must be a main focus, resulting in improved brand awareness and ultimately, a better bottom line. Marketing automation makes creating lasting customer loyalty much easier. Customers now expect relevant and personalized brand interactions every single time, and marketing automation makes this much easier. This article will show you how.
http://retailcustomerexperience.com/blogs/how-retailers-can-use-marketing-automation-to-create-lasting-customer-loyalty/
As Brits reach for their smartphones to ‘go shopping’, retailers need to be thinking mobile-first to provide those perfect customer experiences.
The state of the high street and retail spend in general is changing, but one particularly significant figure is that nearly half of online orders (48%) were made via mobile last Christmas – that’s up from 29% in 2017, according to Salesforce research.
Consumer behaviour has shifted and this is an indication of the importance of mobile in the wider context of the customer journey.
https://www.retail-week.com/retail-voice/how-mobile-can-turn-loyal-customers-into-brand-advocates/7031195.article?authent=1/
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/
"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/
