Customer Satisfaction Measurement and Improvement Accelerates Sales

Customer Satisfaction Measurement and Improvement Accelerates Sales

We know more satisfied customers spend more, are more loyal and are more likely to share their positive feelings about a product or service. Two case studies below show just how much more and the impact the satisfied customers can have. As such, we aspire to increase customer satisfaction levels since that's good for the bottom line. We introduced ...

Tom Smith

Tom Smith

Insights Reduce Churn, Accelerate Sales, in Telecommunications

Amdocs just completed a study with Informa Telecom and Media that highlights the importance of customer retention and loyalty programs. Sixty-six percent of operators believe customers are less loyal today than they were two years ago and 70 percent of service providers cite customer retention and loyalty as the critical factor for driving growth w...

Tom Smith

Tom Smith

Nice Companies Accelerate Sales

Thanks to Peter Shankman, Stacey Acevero and Vocus for a great webinar today on "Nice Brands Finish First." I urge you to watch the webinar when you have 45 minutes, Peter is a GREAT speaker and storyteller. Peter would probably be happier if you bought his new book Nice Companies Finish First. Peter shares some wonderful examples of companies that...

Tom Smith

Tom Smith

8 Reasons to Create a Customer Bonding Program

I have developed and implemented numerous customer, and prospect, bonding programs for clients, channel partners and employers over the course of my career. The objective of the programs is to enhance the company's relationship with its customer or prospects, after the saleis made, since any successful business' most valuable asset is its current c...

Tom Smith

Tom Smith

Say "Thank You" to Customer Complaints

The Corporate Executive Board Financial Services Practice Operations Council released a study which found that 90% of financial services customers do not complain when they have an unsatisfactory experience. Perhaps this is why four banks and two insurance companies account for six of the top 10 providers of poor customer service (http://wp.me/pYHt...

Tom Smith

Tom Smith

7 Steps to Improve Customer Service to Accelerate Sales

Thanks to Kate Leggett, principal analyst at Forrester Research, for her recent article in the June 2013 edition of Customer Relationship Magazine (unable to find article online for link). Here are my thoughts on her seven steps. There’s plenty of research showing that companies that provide outstanding customer service perform better financiall...

Tom Smith

Tom Smith

Top 10 U.S. Net Promoter Scores (NPS) for 2013

Satmetrix the owner of Net Promoter Score (NPS) published its 2013 Net Promoter Industry Benchmark reports for the financial services, technology, online services, retailing, travel, hospitality, insurance and telecommunications industries. For those unaware of NPS, customers are asked, "On a scale from 0 to 10, with '0' be 'very unlikely' and '10'...

Tom Smith

Tom Smith

Customer Experience Is King

81% of customers are willing to pay more for a superior customer experience. 89% of customers switched brands after a poor customer experience. 20% of annual revenue is lost due to poor customer experiences. 93% of business executives say improving customer experience is one of their top-three business priorities. 18% expect to increase spending o...

Tom Smith

Tom Smith

7 Ways to Leverage Promoters to Accelerate Sales

We instituted a customer satisfaction measurement and improvement (CSMI) program using the Net Promoter Score (NPS) methodology. The survey is simply three questions that should take a customer three minutes or less to answer: On a scale of zero to 10 where 10 is "very likely," how likely are you to recommend our company to a friend or colleague? ...

Tom Smith

Tom Smith

Know Your Net Promoter Score to Inform Your Marketing

Do you know your Net Promoter Score (NPS)? You should, it can make a huge impact on your marketing plan. Simply ask your customers, "On a scale of zero to 10, with 10 being 'extremely likely,' how likely are you to recommend our company to your family, friends or colleagues?" I just did this for a small retail grocer. Their NPS was higher than the ...

Tom Smith

Tom Smith