Customer Loyalty Programs are essential to increasing customer satisfaction, according to a sales and marketing expert.
”Increasingly organizations are becoming dissatisfied with their customer satisfaction surveys and turning instead to designing and implementing customer loyalty programs,” said Adam Ramshaw, a director of Genroe. “The reason is simple, after 10 years of running national customer satisfaction surveys, the American Customer Satisfaction Index has, basically, not moved at all.”
Ramshaw offers five steps for sales executives and marketing executives to increase their Customer Loyalty Programs:
- Link customer loyalty to business outcomes. Identify potential ROIs and link loyalty programs to revenue, profit, market share, growth, etc.
- Find a loyalty indicator. One of the best measures of loyalty is the question “How likely would you be to recommend us to a friend or colleague?”
- Identify the drivers of customer loyalty. Establish a range of attributes that might impact customer loyalty depending on the field or industry being targeted.
- Implement the Customer Loyalty Program. Identify ways to change business processes to flow with the new program.
- Re-survey customers to ensure the new program is functioning as intended.