As marketers, customer retention should always be a priority in our brand, marketing and communications programs. Now more than ever, we need to be strong advocates for treating customers like gold.
That’s an easy concept for all of us to endorse. But how do you embed it in the fabric of your organization?
It begins with the voice of the customer.
- Is the voice of the customer woven into your organization’s business strategy and objectives?
- Are your organizational leaders activating the voice of the customer across the entire business?
- Is the voice of the customer a part of your internal culture?
- Can you hear the voice of the customer in your brand promise?
- Does the voice of the customer significantly influence how products and services are developed and delivered each day?
- Do your marketing and communications strategies and tactics reflect the voice of the customer; do they engage the customer in a meaningful, relevant way?
All of these elements should converge to create a customer experience that builds brand loyalty and keeps customers coming back for more.
Marketing and communications leaders, you can be the “customer experience catalyst” in your organization. Show how it all comes together to build loyalty and retention, along with the top-line growth that results from developing deeper customer relationships.
This is a significant opportunity for many organizations. Consider these data points published in studies by the CMO Council:
- In a 2007 poll of over 2,000 adult consumers, 80 percent said they will never go back to an organization after a negative experience. (Harris Interactive)
- Forty-seven percent of business executives say that customer experience will play a very important role in their organizations’ brand and retention strategies over the next three years. (Forrester Research)
- Satisfying and retaining current customers is three to 10 times cheaper than acquiring new customers, and a typical company receives around 65 percent of its business from existing customers. (McKinsey)
- A five percent reduction in the customer defection rate can increase profits by 25 to 80 percent, and seven out of 10 customers who switch to a competitor do so because of poor service. (McKinsey)
Ultimately, it’s critical for organizations to give customer voice more volume and the customer experience more attention. In today’s environment, it’s not about occasionally providing a good customer experience. It has to be consistently great. That’s the expectation. For marketers, it presents both a significant challenge and an exciting opportunity.
Key Success Drivers: Customer Voice, Customer Experience
As marketers, customer retention should always be a priority in our brand, marketing and communications programs. Now more than ever, we need to be strong advocates for treating customers like gold.
That’s an easy concept for all of us to endorse. But how do you embed it in the fabric of your organization?
It begins with the voice of the customer.
All of these elements should converge to create a customer experience that builds brand loyalty and keeps customers coming back for more.
Marketing and communications leaders, you can be the “customer experience catalyst” in your organization. Show how it all comes together to build loyalty and retention, along with the top-line growth that results from developing deeper customer relationships.
This is a significant opportunity for many organizations. Consider these data points published in studies by the CMO Council:
Ultimately, it’s critical for organizations to give customer voice more volume and the customer experience more attention. In today’s environment, it’s not about occasionally providing a good customer experience. It has to be consistently great. That’s the expectation. For marketers, it presents both a significant challenge and an exciting opportunity.