“The purpose of a business is to create and keep a customer” – Peter Drucker
Sometimes, it seems that companies focus exclusively on the first half of this equation. Sales to new customers are exciting, and resources are appropriately targeted to land new customers. Look at the continual offers coming from TV service and internet providers.
But the second half is just as critical. In fact, for organic growth, it’s even more so. In The Economics of E-Loyalty, Bain & Company reports that a 5% improvement in customer loyalty leads to a growth in profitability of 25-90%.
Clearly, customer loyalty is critical, and […]
How do you drive innovation within your organization? Do you think outside of the box to think outside of the box?
When you’re designing or redesigning your customer experience, it’s critical to listen to – and […]
As contact center environments have become more complex, strategic business leaders are looking for innovative ways to spend less and make customers happier.
A recent study by Aberdeen Group shows intraday automation might be the magic […]
We all want to create the best customer experience. Unfortunately, sometimes in our zeal to drive success we end up taking the fun out our centers. We become the “happiness vampires,” sucking all of the […]
As technology keeps advancing, the gap between in-person customer service and the online customer experience is closing. While there is still no substitute for the personal experience that comes from dealing with another human being, […]
Here’s the story: A health insurance company came up with an innovation for their health savings accounts, allowing account holders to select among three pricing plans. This would allow their customers to select the plan […]
Metrics play an important role in every contact center. But when it comes to profitability, what are executives most concerned about on a daily basis?
When we talk about “profitability” in the contact center, the first […]
I recently came across the following Chinese parable, and as I often do, wondered how this story might apply to customer experience metrics and management initiatives. The parable, titled “Mark the Boat for a Dropped Sword,” […]