Consumers are fickle and businesses work hard to keep them loyal. Satisfying customers only meets baseline expectations; retaining customers and driving loyalty is a more demanding task.
What we measure
The way a customer experiences an organisation’s products and services, both at and after purchase, is the final delivery point of the brand’s promise to the customer. The way that purchaser then returns or leaves, recommends or speaks negatively, is part of the growing power of consumerization. Businesses need to become customer centric and put customers at the heart of all they do.
Our global work shows that the critical path to consumer engagement and retention is driven by six key measures that predict the strength of a relationship and future loyalty:
- Satisfaction with products and services.
- Value for money.
- Comparison with competitors.
- Propensity to shift.
- Trust in the brand.
How we do it
Using our Consumer Engagement approach, we can help you build strong lasting customer relationships. We have proven that customers with strong relationships are four to seven times more likely to continue using services versus those with weak relationships. We can help reduce churn by identifying potential risks and areas for improvement.
We’ll help you understand what trigger points drive consumers to form a stronger relationship with your brand, ultimately leading to more revenue for your organisation. Our insights can lower the cost to serve, as customers with a weak relationship with your business are three to six times more likely to complain. And more importantly, we can help drive consumer endorsement.
Driving Consumer Engagement through your organisation is no longer a nice to have. In the age of demanding, savvy and articulate consumers, it’s an essential pathway to survival.