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My Comment: So much of what is written about customerservice and CX is focused on consumers (B2C companies). Ive mentioned many times that while B2C is different than B2B, many of the customerservice and CX strategies apply to both. As you read it, you may think, Hmm, this could work for B2C, too!
It’s about customer retention—which can lead to customerloyalty. Loyal customers are important to all businesses regardless of industry or size—large, small, B2B or B2C. It’s easy to measure customer satisfaction at different levels. The formula for calculating customer retention is pretty simple.
What Is CustomerLoyalty and Retention (And 3 Tips for Improvement) by Scott Clark. CMSWire) Although the terms “customerloyalty” and “customer retention” are often used interchangeably, they actually refer to two different things. Why B2B Customer Experience is Just as Vital for Growth as B2C by Gal Oron.
Read this article and learn more about what customers expect. 4 Ways Chatbots Can Fail at Customer Experience by Phil Britt. CMSWire) Chatbots continue to handle an increasing amount of customer support and other B2C and B2B interactions. Next Generation Loyalty – Part One by Braden Kelley. billion market of 2018.
Customerloyalty is not by offering discounts, upgrades, or subscriptions to repeat customers. Real customerloyalty is built on service so great that customers return again and again, raving to others along the way. You can read more about Karen at the end of her post.
Customers Will Be Smarter and More Demanding Than Ever – I may sound like a broken record as I start each year with this prediction. Regardless of the type of business you’re in (B2B, B2C, B2B2C), everyone is a consumer. Trust is an emotional connection that drives repeat business and loyalty. Follow on Twitter: @Hyken.
The Untapped Potential of B2B CustomerLoyalty Programs by John Rolston and Jon Glick. strategy+business) In a recent PwC customer survey, almost 60% of B2B customers reported they had never had an experience with a brand that made them feel special. My Comment: A loyalty program for B2B? Absolutely!
5 Key CustomerLoyalty and Engagement Trends for 2021 by Michelle Wildenauer. What challenges and opportunities should customerloyalty and engagement specialists consider as they move further into 2021? It’s nice to see the emphasis on B2B, versus retail and other B2C industries. Follow on Twitter: @Hyken.
This translates to the customer experiencing a lower level of service, and in some cases, quality. Our colleague at Shepard Presentations refers to it as customerservice on a diet. . Companies are forced to skimp on quality and service, and that is causing frustration at all levels. Follow on Twitter: @Hyken.
How to Run a CustomerLoyalty Program by ThriveHive. ThriveHive) This article will give you a run-down on the basics of customerloyalty marketing and programs, how they work, and how you can use them to retain more customers with your business. Loyalty Trends in 2020: How Will This Year Be Different?
And, what happens when a customer doesn’t receive the customerservice they expect? The NewVoiceMedia reports that “Brands are failing to create the positive, emotional experiences that drive customerloyalty.” That failure results in 67% of customers becoming what they call “serial switchers.” They switch!
Brand Keys 2019 CustomerLoyalty Engagement Index: Verified Trust = Brand Success by Robert Passikoff. This article makes the point that trust is a defining piece of the customer experience. It drives repeat business and loyalty. CX is for retail brands, as in B2C. A quick read with some important reminders.
Today’s course is a prerequisite for business professionals in the B2C or hospitality industry. This is not a customerservicetraining class. Training is finite, usually one to three days. And training is top-down, one-way “I know everything, you know nothing” instruction. Welcome to CX 101.
Lessons from the Field: 3 Easy Ways to CustomizeCustomer Experiences & Increase Brand Loyalty by Anand Subbaraj (Fast Company) Personalization encourages customers to both return for more service and recommend that service to others. All five of this week’s articles are focused on customerloyalty.
4 Ways to Scale up Convenient CX for Modern Customers by NICE (NICE) The easier things are for your customers, the better they are for your organization. Meeting customer needs in the most convenient way not only drives great customer experience (CX) but also promotes long-term loyalty and business growth.
The titles of the experts weighing in include CEO’s to directors of customer success, engagement, etc. CustomerLoyalty: 20 Compelling Reasons To Double Down On It [Infographic] by Ellen Gross. My Comment: Our friends at Fieldboom have assembled a short article and infographic filled with stats about customerloyalty.
My Comment: I’ve been studying how different brands are creating successful loyalty programs. While the article focuses on retail (especially e-commerce), anyone from any type of company (B2B and B2C) that has “VIP customers” will want to read this article. My Comment: Let’s move away from loyalty programs but stay with trends.
And just as important, is to understand what customer experience is not, which Annette also shares. My Comment: If you follow consumer trends, you know that customerloyalty is “up for grabs.” Customers/consumers expect more from the companies and brands they choose to be loyal to. Most likely, it’s B2C.
Are You Making This Critical Connection With Your Customers to Strengthen Relationships and Drive Loyalty? Business2Community) Customer Success is typically defined as, “ensuring customers achieve their desired outcomes while using your product or service.” Consider two types of loyalty; behavioral and attitudinal.
(ServiceDock) The following covers three of the most common and obviously non-customer-centric strategies that retailers use. Each of them maximizes short term profitability but at the potential expense of long term customerloyalty. My Comment: There are review sites for virtually any industry – B2B and B2C.
The way we come back is paramount to the long term success we hope to have with our existing customers, as well as new ones – regardless of the type of business we’re in (B2B or B2C). 7 Guidelines Starting Customer Experience by Christine Crandell. My Comment: What business doesn’t want customerloyalty?
They demand fast shipping, easy returns, sustainability and more, showing little loyalty and appreciation. Managing the positive impact of a viral moment is key to getting those new customers to come back. How to Make Loyalty a New Business Line for your Brand? And here’s another term to consider: generative loyalty.
The sales person than can out service their competitor wins. Here are ten points that are relevant for any company that wants to sell in way that creates customerloyalty. B2C Influence on B2B Customer Expectations by Shannon Gronemeyer. (CX Follow on Twitter: @Hyken.
After all, customers make buying decisions based on their experiences, so no matter what originally attracted them, their customerservice interactions can dictate loyalty or loss. CMSWire) The digital experience is not keeping up with the needs of B2B buyers and customers. They want B2C-like experiences.
There are many other reasons customers will leave, but all you have to do is look at the numbers in this article, and you’ll see the risk your company or brand has by not doing right by the customer. But in 2023, these six retailers and brands set new standards of what loyalty can be. When done well, they foster repeat business.
My Comment: So many of the case studies about moving from traditional to online sales (eCommerce) are focused on B2C types of businesses – primarily in the retail industry. 5 Customer Experience Trends That Won’t Change (And Will Likely Accelerate…) by Michael Hinshaw. Here’s how a B2B construction equipment made the move.
Yes, it’s focused on retail, but with supply-chain issues hitting virtually every industry (B2C and B2B), the ideas shared in this article are applicable to most businesses. 5 Smart Strategies That Help Avoid Losing Loyal Customers by Natalya Bucuy. And we asked some experts to share their best tips on how to gain customerloyalty.
B2B Customer Experience Examples: Think Like A B2C by Dan Gingiss (Dan Gingiss) While B2B businesses are technically providing products and services to companies, they are selling to individual buyers who are consumers. In other words, they are marketing their services to humans. Connect with Shep on LinkedIn.
Airlines in search of customerloyalty need to do more than improve service b y Nick Francis. The Hill) In the wake of recent incidents and subsequent PR nightmares — not to mention congressional tongue-lashings — airlines are attempting to make up for their customerservice shortcomings. Top Five Bonus.
Rethinking CustomerLoyalty in the Age of the ‘Zero Consumer’ by Dennis Limmer (Forbes) The retail industry is undergoing a seismic shift due to the emergence of “zero consumers.” These shoppers, characterized by zero patience, zero boundaries, and, crucially, zero loyalty, are challenging traditional definitions of customerloyalty.
She shares those experiences as she blogs about creating a customer-focused culture and many tactical aspects of CX. . Author, speaker and CX trainer Jim’s Heart of the Customer blog is dedicated to data and CX technology. He shares tips for creating amazing experiences and providing top-tier customerservice. .
There are some good insights and ideas here, and after reading the article, you may think the title should have been, “What Does It Take to NOT Lose a Customer.” You’ll read three ideas, and the second is my favorite, which focuses on creating advocacy, not loyalty. It’s not rocket science, but it doesn’t have to be.
It meets and exceeds consumer expectations, and now customers want, hope, and expect every company they do business with to be as good as Amazon. I don’t care if you’re B2B or B2C, everyone you do business with is a consumer at some level. That is what Amazon has mastered, and it’s something you and your organization can do, too!
Critical areas of the digital customer experience by Natalia Hawkins. MyCustomer) Over the past couple of decades, the concept of being able to conduct business operations virtually (both in a B2B and B2C setting) has caused a huge ripple effect for companies across the board. My Comment: How much digital is too much digital?
Bring CustomerLoyalty Under the Customer Experience Umbrella by Phil Britt. CMSWire) Forrester’s 2019 CX Index found that most loyalty programs are ineffective. This, at a time as the company notes, when “it costs 500% more to acquire a new customer than to retain a current one.” by Wayne Simmons.
There are plenty of good strategies and tactics out there, and here are five that apply to both B2C and B2B organizations. How Brands Can Build Loyalty in the Era of the Millennial and Gen Z by Jason Parkin. Shep Hyken is a customerservice expert, professional speaker and New York Times bestselling business author.
Our customer experience research finds this has become more important than ever, especially with younger customers (GenZ and Millennials). The Need for Greater Patient Loyalty: a Lesson From the Hospitality Industry by Peter C. It’s about building trust and turning customers into lifelong fans.
Loyalty programs boost businesses’ ability to keep customers by Jill Young Miller. Louis) In business, simple loyalty programs can strongly increase customer retention, Washington University in St. 7 Ways to Add More Value to Your Loyalty Program by Emily Rudin. Here are my top five picks from last week.
5 Stages to Building CustomerLoyalty by Melissa Gonzalez. IBM) As a digital marketer, it’s important to remember that a long-lasting customer relationship takes time and trust; and trust takes a lifetime to build and a second to break. My Comment: Customerloyalty doesn’t happen immediately. Want evidence?
My Comment: This article is actually an interview with PwC Customer Transformation Leader George Korizis. While the title focuses on retailers balancing digital and human-to-human experiences, there is a lot that any company (B2C or B2B) can take away from the lessons shared. Some training courses are designed for all employees.
Each week I read a number of customerservice articles from various online resources. 12 Unique Ways to Build Brand Loyalty Through Social Media by YEC. My Comment: All types of businesses (B2B, B2C, large, small, etc.) Customers want an easy and smooth transaction. Here are my top five picks from last week.
Currently, he is serving as the Director of Customer Success at Kustomer and an Advisor at The Success League. He specializes in customer success, customer experience, SaaS start-ups, B2B & B2C marketing strategy, and e-commerce. Blake Morgan – Customer Experience Futurist, Keynote Speaker, Author.
Perhaps one of the most important trends is the first one, that emphasizes how self-servicecustomerservice is a viable channel. 24 Experts Reveal Their Top Customer Retention Strategies For B2C Brands by Clutch. And as we all know, replacing an existing customer costs 7 times more than retaining them.
Today, B2B companies need to focus on creating customer experiences that deliver—at scale. My Comment: There are some B2B companies that believe most customer experience strategies are more focused on B2C type businesses. These expectations, when met, can earn you repeat business and even customerloyalty.
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