Home » Customer Experience Reporting » Go To Battle for Customers in 2011

Go To Battle for Customers in 2011

  January 19, 2011 in Customer Experience Reporting, Customer Feedback by Marci Bikshorn

This is the year to make it your personal mission to go to battle for customer share. The critical nature of winning the customer retention war is higher than ever. When the customer experience is only adequate, customers are sprinting, not walking, to find competitive businesses to fulfill their needs.

A recent article, “Customer Experience in 2011: the Penalties and the Payoffs” states:

Best-in-class customer experience organizations have 75% greater customer retention and 65% better customer satisfaction than the average company. And companies that pay attention to customer experience get more customers, too, with over 300 percent more leads in their sales pipeline that result in closed business.

Up-to-date customer experience measurement practices are focused on building revenue through customer retention and loyalty, thus company-wide implementation is on the rise with businesses placing their priorities on their customer service efforts.

One example of a battle for customer share is highlighted in a recent article from Time in partnership with CNN, called “On HOLD at eBay: Customer Service Lines Go Dead”. The article clearly identifies customer frustration with eBay for the lack of customer contact lines for low volume buyers and sellers. eBay has gone “virtual” in customer care and AuctionOnline.com is going to battle for their lost customer share.

AuctionOnline.com sees this as an opportunity to build customer confidence and capitalize on eBay’s customer experience issues and is touting their 24-7 phone customer care lines and scaled down auction fees for their members. Although eBay has made a statement that they will improve the voice-to-voice capability by end of year, they may have already lost the customer loyalty battle.

One of the best ways to win the battle is to take heed to the voice of your customers; capture, read and listen to their feedback. Companies that illustrate they have listened to and followed customer advice by demonstrating improvements, prove to customers that their opinions matter.

How are you monitoring your customers’ experience to keep your share in 2011?

No related posts.