In my new book, Total Customer Experience, I illustrate why three types of customer loyalty are needed to understand the different ways your customers can show their loyalty towards your company or brand. The three types of loyalty are: Retention Loyalty: likelihood of customers to stay with a company Advocacy Loyalty: likelihood of customers to […]
Last week, I spoke at the CustomerThink Customer Experience Thought Leader Forum, which includes customer experience researchers and practitioners sharing leading-edge practices. Bob Thompson, founder of CustomerThink, organized several sessions focusing on specific CX issues facing business today. In our session, titled Customer Service Excellence: How to Optimize Channel and Metrics to Drive Ominchannel Excellence, Stephen Fioretti, […]
I have never participated in a March Madness bracket until now. IBM set up a March Madness bracket for a field of 16 Big Data teams. These 16 Big Data teams are from four areas: Marketing, Finance, IT and Operations. IBM is seeking your input on where you think businesses will get the most value […]
It is no surprise that many businesses are taking advantage of the power of analytics. In 2010, researchers from MIT Sloan Management Review and IBM found that organizations that used business information and analytics outperformed organizations that did not. Top-performing businesses were twice as likely to use analytics to guide future strategies and guide day-to-day operations compared […]
Last week, I reviewed several definitions of customer loyalty (see What is Customer Loyalty? Part 1) that are being used in business today. It appears that definitions fall into two broad categories of loyalty: emotional and behavioral. Emotional loyalty is about how customers generally feel about a company/brand (e.g., when somebody loves, trusts, willing to forgive […]
There seems to be a consensus among customer feedback professionals that business growth depends on improving customer loyalty. It appears, however, that there is little agreement in how they define and measure customer loyalty. In this and subsequent blog posts, I examine the concept of customer loyalty, presenting different definitions of this construct. I attempt […]
Measuring customer loyalty, the degree to which customers engage in positive behaviors toward your company/brand, is essential for your customer experience management (CEM) program. We know that customer loyalty is key to driving business growth (e.g., increased revenue, market share). Customers can exhibit many different types of loyalty behaviors toward a company, from recommending your company […]
Companies rely on customer experience management (CEM) programs to provide insight about how to manage customer relationships effectively to grow their business. CEM programs require measurement of primarily two types of variables, satisfaction with customer experience and customer loyalty. These metrics are used specifically to assess the importance of customer experience in improving customer loyalty. Determining […]
Learn how to build your business around the customer using customer-centric measurement and analytics. Available in Kindle and paperback. Learn more about TCE: Total Customer Experience.
Beyond the Ultimate Question: Book includes comprehensive review of Net Promoter® Score (NPS) and presents better measures of customer loyalty and best practices of customer feedback programs.
Measuring Customer Satisfaction and Loyalty (3rd Ed.): Book includes discussion of how to measure the customer experience, including customer satisfaction and customer loyalty.