Satisfaction and Loyalty Management
A comprehensive Satisfaction and Loyalty Management program requires companies to:
- Regularly assess current loyalty levels through surveys and behavioral data. The most effective approaches distinguish mere satisfaction from true loyalty. They ask current customers how likely they would be to recommend the company to a friend or a colleague, and also ask frontline employees whether they believe the organization deserves their loyalty.
- Benchmark current loyalty levels against those of competitors.
- Identify the few dimensions of performance that matter most to customers and employees, and track them rigorously.
- Systematically communicate survey feedback throughout the organization.
- Build loyalty and retention targets into the company’s incentive, planning and budgeting systems.
- Develop new programs to reduce customer and employee churn rates.
- Revise policies that drive short-term results at the expense of long-term loyalty, such as high service fees and discounts given only to new customers.
- Reach out to investors and suppliers to learn what drives their loyalty.
Xanaxx Practitioners can offer both practical solutions and hands-on implementation plans to help put your organization on the path to success. Contact us today!