Retaining Customers & Increasing Company Advocates

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The Aberdeen Group’s research report, “Customer Experience Management: Engaging Loyal Customers to Evangelize Your Brand” reveals how organizations that achieve superior performance in customer retention and customer satisfaction grow customer advocates.

Some of the most compelling survey findings include:

70%  of companies with Best-in-Class performance are collecting customer feedback — and 70% of that group are using customer feedback when making strategic marketing decisions

96%  of respondents saw value in formalizing a strategy to encourage loyal customers to promote the brand, product or service.

37%  of respondents have a formal process in place to systematically identify and encourage loyal customers to become advocates for the brand, product, or service.

The report also cites an earlier Aberdeen study titled “The ROI on Customer Feedback: Why It Pays to Listen to the Voice of the Customer” which found that the number one goal behind increasing investment in customer feedback initiatives is to increase customer retention and customer loyalty.

The connection is clear. Every interaction between business and customer has become a recognized opportunity to gain customer feedback, foster customer retention, and positively influence customer loyalty.  Shaping a customer experience that allows dialog and reacts to that dialog is what will grow new customer advocates the fastest.