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As part of the SCA global marketing programme, they have entered a boat into the Volvo Ocean Race, a round-the-world yacht race, with an entirely female crew. To find out how race visitors view SCA and its brand presence, a number of different visitor surveys have been set up targeting a range of target markets. During the leg between Newport and Lisbon, I managed to have a chat with Nina Ekstrand, Brand & Marketing Director of Team SCA Ocean Racing, to learn more about how they are using feedback from customers and the public in the Volvo Ocean Race.
“No, there’s no time to measure and analyse customer loyalty. We have to focus on preventing churn.” I hear variations on this statement every now and then from representatives of various company management teams. A lack of time is a modern phenomenon suffered by most companies. However, the argument above is like putting a plaster on an injury and hoping it will get better instead of trying to heal it from within. Knowing what makes customers leave is always better than taking a chance, and yet many managers still believe that customer loyalty surveys have to be time-consuming and large-scale. This is not true. It depends on how they are done. The entire process can be done automatically now.
Identifying and grading your customers’ touchpoints in the customer journey are the first steps to enable you to get a full grip of the customer satisfaction levels in your organisation. Allowing customers to give feedback and speak their mind along the way will help give you a full understanding of the customer experience and a great foundation on which to grow and improve your business.
Successful businesses put their customers at the centre of their corporate culture and they always start with the customer’s best interest in mind when developing processes, products or services. Customer data can help you better understand and use segmentation to identify your best customers. Product and service development should always be made for the best customers – they are loyal and engaged in what you do. But you need to be attentive and listen closely to what your best customers have to say, otherwise they will feel disregarded and will soon be found in your competitor’s nest. Here are a few tips for you to consider if you want to put your customers’ voice at the core of your organisation.
What does it take to be able to call your company a customer-centric company? Is it enough to put words like “We think customer first” on your website or in a fancy PowerPoint presentation? Of course not; you have to deliver a great product, in a great way, and you need to provide the customer with great service all the way, even after the point of purchase. Read more about what working with customer feedback in a predictive way means and then ask yourself four questions to find out if your company really does.
86% of consumers have quit doing business with a company because of a bad customer experience and it is 6 to 7 times more costly to acquire a new customer than retaining an existing one. Everyone knows that customer satisfaction is important but every now and then we need a reminder. Take a look at this infographic to get a short summary of why you need to keep your customers happy!
Loyal customers are easier to keep, buy more and are more likely to generate new customers for you when they recommend your products or services. To measure customer loyalty – to put a concrete number on how loyal your customer is – Net Promoter Score is used widely. It is an established method used by an increasing number of companies because, among other benefits, it is easy to use and has a direct connection to profitability.
Do you know what your customers really think about your company? In today's society with increasing numbers of products and services it is more important then ever to know your customers needs so you can keep them loyal. Measuring customer satisfaction in an action based way gives you the information you need to quickly take relevant action and keep your customers happy. Read more about how customer satisfaction generates greater returns, why measuring customer satisfaction is so important for your business, and how you can increase loyalty in the most efficient way.
There is usually a lot of focus in the business on making sales. However, one of the key triggers of successful businesses is to ensure your customers also remain customers. To track the cancellation of your customers the term churn rate is used. In this post, I’ll be examining a way to improve your churn rate and push it down closer to 0% using churn surveys.
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