Ipsos Loyalty U.S. » Philosophy
In today’s business world, it’s harder than ever to satisfy customers and develop their loyalty.
Retaining customers has become a top business priority. Why? Because retained customers spend more and spread positive word-of-mouth, attracting other customers. And customer retention is all about satisfaction and loyalty.
To gain customer satisfaction and loyalty we need to update our customer thinking.
The power is now with the customer and we need to listen and understand their needs. The customer doesn’t want to be managed. They want you to make their lives easier and less stressful.
Too often, CSM and CRM have been used to maximize benefits for the company – not for the customer. CRM is often regarded as automation, but the technology alone will not change results. Searching databases or using data mining or statistical tools in isolation is unlikely to improve your relationship with the customer. Companies must start listening to their customers and analyzing the competition. Customer knowledge can be greatly increased by combining the observation of customer behaviour—using CRM—with satisfaction surveys that take customer opinion and attitudes into account.
But often satisfaction surveys have not led to the business benefits companies expect.
We are convinced that for the vast majority of firms customer satisfaction data can and should be analyzed in new ways that recognize its non-linearity. For many firms, conventional analysis seems to show no relationship between satisfaction and business outcomes. Adding to the distrust of satisfaction methodologies, managers have discovered that up to 60% of customers who have defected from their companies would have been considered as “satisfied” using current industry practices.
Ipsos Loyalty offers a better solution.
Loyalty programs must look beyond basic measurements to deliver actionable results that can be tied back to ROI.
Our approach focuses on identifying the issues that place customers in pain, and those that delight customers, and then establishing priorities for action. We reinforce our improvement initiatives by tying them directly to financial performance.
In our focus on customer and employee issues, we practice Customer Research, not traditional marketing research. More than just semantics, Customer Research involves an entire approach to customer contacts. It recognizes that to the customer the survey process is not about numbers; rather, it is part of their relationship with the sponsoring company. In our outreach, we treat customers as individuals, with great respect, and recognize that each can contribute to the future financial success of our client. As corporations and non-profit organizations continue to accord greater attention to retaining customers and growing revenue with those individuals, Ipsos Loyalty has developed products that measure and manage loyalty and customer advocacy.
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