Why do we use surveys to measure customer loyalty?
Customer loyalty is the leading indicator of business growth. As such, companies track objective measures of customer loyalty to help them monitor the health of the customer relationship. Some objective customer loyalty metrics are: Customer retention/defection rates New customer growth Average revenue per user (ARPU) Despite the existence of these (and other) objective metrics of […]
Social Media Haiku: Everything you Need to Know about Social Media
I don’t have a lot to say today. Like most Americans, I am honoring Labor Day, a day that represents the labor movement, by not working. Besides, I found it very difficult to blog with my hands focused on shoving food into my pie/hotdog/beer hole. To leave you with something, anything, I thought I would, […]
Try these Customer Loyalty Questions for your Relationship Survey
Customer loyalty is the leading indicator of business growth. In fact, a main reason why companies implement voice of the customer (VoC) initiatives is to improve customer loyalty. Based on a 2010 study by Gleanster, asking 276 companies about their customer feedback management initiative, a majority of the loyalty leading companies said they implemented their […]
Wade Loves Costco and so Does Wade
Wade is a good friend and colleague. Even though he lives in San Diego and I live in Seattle, we talk regularly to consult each other on topics of interest to us. These topics range from the best pesto recipes to, yes, customer feedback programs. I visited Wade last week to help him celebrate his 50th […]
Optimizing your customer relationship survey
Companies use customer relationship surveys to understand and improve the health of the customer relationship. Customers are asked to provide ratings about their overall experience with and loyalty towards the company/brand. These customer feedback data are analyzed to help companies diagnose problem areas that, when addressed, will increase customer loyalty, driving business growth. Even though […]
Know your Enterprise Feedback Management Provider
I recently wrote about the value of Enterprise Feedback Management vendors. EFM is the process of collecting, managing, analyzing and disseminating different sources (e.g., customers, employees, partners) of feedback. EFM vendors help companies facilitate their customer experience management (CEM) and voice of the customer (VoC) efforts, hoping to improve the customer experience and increase customer loyalty. […]
Linkage Analysis for Your VoC Program – Free Paper
Customer feedback provides useful information about the health of the customer relationship. Relationship and transactional surveys, commonly used to capture customer feedback, are used to assess and improve that health. While customer feedback metrics provide great value in and of themselves, when used with other types of business data, they can address meaningful business questions: […]
The Value of Enterprise Feedback Management Vendors
In an excellent post, Bob Thompson reviews the VoC space in his blog on Voice of the Customer (Voc) Command Centers, including a discussion of 1) the six feedback dimensions, 2) how the VoC command center needs to include technology to a) capture feedback, b) analyze feedback and c) manage top priorities to resolution, and 3) […]
Beyond the Ultimate Question
Measuring Customer Satisfaction and Loyalty (3rd Ed.)