The economy-sensitive industry is facing challenging business and consumer markets. With many competitors chasing the same customers with the very same products, companies are under extreme pressure for developing innovative customer experience solutions for markets and to match the customers’ varying demands.
We can hardly find any difference in services offered to customers across industries. An easy way to fight against competition and create a strong flagship brand is to convert the existing customers to brand advocates. Brand advocates are highly satisfied customers who are most likely to recommend a product or service to others; therefore it is highly critical for companies to motivate satisfied customers to advocate a brand.
Executives estimate that their potential revenue loss for not offering a positive, consistent and brand relevant customer experience is 20%. 49% of the executives believe that customer will switch brand due to poor customer experience but the reality is that 89% of the customers say that they have already switched due to poor customer experience service. 44% of the executives believe that customers are willing to pay for a greater customer service but the fact is that 86% of the customers say that they are already doing so. So about 93% of C-level executives say improving their customer’s experience is one of their top three priorities in the next two years that means boosting customer service excellence, converting the existing customers to loyal customers and turning them their brand advocates to create a strong brand.
Brand advocates help the advocated company in many ways – they reduce marketing effort, attract new customers, increase brand visibility and so on. Companies should strive hard to deliver on products and services to keep customers satisfied. But what converts them into advocates is not satisfaction, but customer delight. Customer delight is a result of company’s extended engagement efforts for its customers; it’s a way for the company to make its customers feel special. According to me, key methods necessary for this conversion to happen are:
Hence, I feel companies must strongly focus their efforts to build increasing number of brand advocates. Remember, advocacy is not triggered by offers or promotions, but it is a result of continuous nurturing and respect for customer relationships.
CRMIT Solutions a pioneer in delivering SaaS based customer experience consulting & solutions from sales force to socially enabled business intelligence, offers the broadest and deepest portfolio of customer experience solutions that address all customer touch-points. The solution provides rich functionality to support the specific business needs for organizations of every size, to deliver a superior customer experience and satisfying your customers to be your Brand Advocates. With over 200+ certified CRM consultants and over 250+ successful CRM deployments globally, CRMIT Solutions is one of the largest Cloud based CRM deployment partners with several leading Fortune 1000 companies spread across various domains including banking, financial services, insurance, education, retail, manufacturing, life sciences, energy, telecom, travel & transportation and public sector.