Why Customer Loyalty Is Hard

Wrapping your business around the customer has been a core business principle since before Adam Smith wrote the “Wealth of Nations” in 1776. Yet every year, there are new technologies, theories, and business models that promise to get a company closer to its customer, as if customer alignment had just been discovered for the first time. Do we really need new-fangled ways of solving the problem, when many companies have performed well at customer alignment for centuries?... Read the full article on Forbes.  

Stop Kicking the Customer Loyalty “Can”

The adage says that it’s cheaper to keep a customer than to acquire a new one. Nevertheless, companies routinely don’t focus on “the customer” or on how the relationship is going. It’s often not until the customer complains or a quarter-end sales opportunity is identified that the state of the relationship is investigated..... Read the complete post on Forbes.

4 Ways Verizon Is Trying To Get Rid of Me

I hang on to this myth that Verizon really does want me as a customer. The reality is that Verizon doesn’t care; they know I’m not going anywhere for two years. For many buyers the decision to change vendors happens long before the product or service is delivered or even purchased. Sellers don’t see the signs because they focus on historical patterns; not on the buyers’ experience. By not understanding how the buyers’ journey traverses social and physical worlds and how different interactions impact trust and credibility, sellers inadvertently drive their own churn. There are four experience disruptors that drive churn..... Read the complete post on Forbes.

Dump Your Social Media Strategy. It’s Not Customer Service

Social media is not a destination; it is an enabler of business strategy. In and of itself, social media will not drive customer satisfaction, robust collaboration, or revenue. It’s like putting a toy sailboat in a pond and huffing and puffing into the sail to make it go. It will go but randomly for it lacks a rudder..... Read the complete post on Forbes.

Six Ways to Bust the Social Media Hype

In a conversation with a CEO about the transformative effects of social technologies he declared, ‘We’re a social business. We hired an intern to manage our Twitter and Facebook account.” He became deaf to the discussion upon hearing that using social media in marketing does not equate to being a social business. Not surprising, “social” is in its hype phase. History repeats itself and the current social-mania reminds me of the late 1990s “e-business” hype cycle. Everyone claimed they were an “e-business”, few actually were…. Read the complete post on Forbes.