On a scale from 0 to 10, how late are you on holiday shopping?
Just getting started? You're not alone.
That's why we curated a customer experience (CX) gift guide for every type of customer this year.
I like to think our team knows exactly what they want during the holidays, (and all year round), so these gifts don't just apply to the season.
Every gift guide offers expert-led advice on how to help promoters, passives, and detractors so pick out which you like the most and get giving!
Customer Loyalty Program
Promoters have been good all year — reward them!
The best way to do so is with a customer loyalty program.
A customer loyalty program can provide a ton of benefits, including a decrease in churn, building longer-term relationships, and improving your customer lifetime value.
So, where do you start with building a successful customer loyalty program?
- Measuring your current loyalty rates. By overlaying Net Promoter Score (NPS) with customer lifetime value (CLV), you’ll get a better accurate sense of how loyal your customers are.
- Deciding on the initiatives. Will you offer perks like exclusive content or educational materials? Even discounts on future purchases can work well.
- Being clear on the terms and conditions. Define all practicalities before launching such as expiration dates or other important details.
- Measuring the impact. Keep track of how much you've earned, it's impact on customer churn, referrals, and ROI.
Customer Experience Management Strategy
Passives are in need of some holiday spirit.
According to CustomerGauge research, only 20% of businesses understand how CX supports their overall business strategy. If you’re not connecting the two, you’re missing crucial opportunities for growth.
By building a customer experience management strategy (CXM), you can tie CX data to your bottom line. But what makes a good CEM strategy?
It must do these 5 things:
- Put customer data first.
- Enable flexibility in handling customers.
- Get buy-in from everyone in your organization.
- Account for CX software and tools.
- Connect customer experience to revenue.
Coal isn't the only option for Detractors this year.
Closing the loop in less than 48 hours leads to a 6-point increase in NPS — that's because Detractors want their feedback listened to and acted upon!
Streamline your closed-loop process with our best practices.
- Choose the survey distribution method. It's all about discovering which channel works best to communicate with your customers. If you're already using email, stick to it! Think utilizing more than one to create an omnichannel customer feedback strategy will work? Go for it.
- Aim for 100% account coverage. Closing the loop with your detractors is the most important place to start, but don’t forget about your passives and promoters.
- Close the loop at different levels. Your closed-loop feedback processes shouldn't be overlooked by only your frontline or customer service teams. If you don't engage all levels of your company to close the loop, you’re likely only leaving the door open for additional and unnecessary churn.
- Survey 4x a year. Discussing customer feedback, especially in B2B during quarterly review sessions helps to close the loop with key decision-makers.