7 times more expensive!
Acquiring a new customer costs 7 times more than retaining one.*
While acquiring new prospects is necessary for the successful development of your company, customer loyalty should also be a primary focus for you.
Indeed, investing in generating new leads without ensuring that they stay with you once they become customers is like trying to fill a leaky bathtub.
At best, you'll need a continuous supply of new prospects to compensate for the loss of your customers.
At worst, your investments won't be enough to maintain this balance, and your number of customers will fall!
What key elements should you focus on to ensure customer loyalty?
KEY #1 - Listen to Your Customers
But to know if your customers are satisfied (or not) with your services and products, you have to listen to them!
Because the "voice of your customers" is what you have most precious! Their feedback can allow you...
– To improve your customer experience
– To identify problems before they worsen
– To optimize the targeting and content of your marketing and sales strategy
– To evaluate your new ideas before launching them
Therefore, all departments of your company can benefit from customer feedback!
How do you gather their opinions?
Voice of Customer
The "Voice of Customer" refers to a methodology for gathering the needs and opinions of your customers throughout their journey.
The objective of this approach is to easily and regularly collect feedback from your customers in order to initiate optimizations!
Discover the key questions to ask yourself to initiate a Voice of Customer strategy in your organization:
Want to start this process in your company? We can help!
At KESTIO, our Customer Success teams conduct customer satisfaction surveys every year using this Voice of Customer methodology.
Result? A customer satisfaction score of 9.34/10 in 2022.
Speak with a member of our team to begin the initial steps of this process!
KEY #2 - Customer Experience: the little extra that makes all the difference!
Customer Experience is one of the elements that allows you to optimize Customer Satisfaction. Based on perception and feeling, customer experience is more difficult to measure for each customer. To improve it, you must put yourself in the customer's shoes and understand what they are experiencing, or better, directly observe them in a relationship situation with the organization.
What is the customer journey?
It is a succession of points of contact with the customer. A point of contact is defined as an interaction between the customer and the company, via a specific channel, whether physical or digital.
The interaction can be informational or transactional, and triggered either by the company (push) or by the customer (pull). This includes reading an online or magazine advertisement, receiving a promotional email, visiting the company's website, entering a store, calling customer service, receiving a package, receiving an order confirmation email, receiving an invoice, etc. Note: depending on its customer types, the company may offer different customer journeys!
The 3 main phases of the customer journey:
For example, SNCF has worked extensively on Customer Experience in recent years. It has facilitated the customer journey by increasing the number of contact points allowing users to purchase tickets through their preferred channel: the website, the mobile application for smartphone users, the call center, ticket counters for customers who need advice, kiosks at stations, etc.
At the same time, it also works on emotion and comfort to create preference among its customers: welcome aboard trains, TGV magazines or others in first class, Grands Voyageurs reception areas, etc. So many services that should improve the Customer Experience from a global point of view over the entire journey.
5 tips to improve your customer journey:
KEY #3: Expert Advice
