How to Increase Loyalty Through Customer Value baibi.com.au
Customer service organisations are discovering how to increase loyalty through customer value by systematically enhancing experiences that drive tangible business outcomes using value enhancement tactics to drive customer loyalty and retention.
While a low-effort service experience is still critical to customer retention, in today’s environment, the use of ‘value enhancement’ can increase the probability customers will increase their wallet share and spread positive word-of-mouth while driving overall loyalty.
Service organisations looking to capitalise on customer interactions that impact loyalty through ‘value enhancement’ will ensure customers leave an interaction with more confidence in their purchase decision and better able to maximise their value of the product or service.
Gartner research identified the impact of value enhancement activities on customer loyalty that showed some customers were more likely to advocate, renew and spend more after experiencing a value-enhanced service interaction.
Brent Adamson, distinguished vice president for the Gartner Customer Service & Support practice says “Most often, companies find ‘value enhancement’ activities fall under the customer success team…customer service can leverage these same types of activities in the service experience to help drive up customer loyalty.”
Notably, these activities can take place in both live and self-service channels. By operationalising value enhancement, service organisations can double or triple the frequency with which value enhancement occurs. To do this, businesses will need to predict the opportunities (identifying which customers are open to value enhancement, to what degree and when), matching customers to the best resources (e.g., specialised reps), and scaling delivery through automation.
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