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A recent McKinsey survey showed customer satisfaction with health insurance is 73% more likely when customer journeys work well than when only touchpoints do. There is greater ROI when the holistic customer journey is the focus. Improving customer experience is what leads to ROI. Let me explain. .
Platforms like X, Meta/Insta, YouTube, and Google shape brand perceptions and impact purchasing decisions, directly affecting your ROI. Customers expect not only to be heard but also understood and swiftly responded to. Predictive analytics helps in anticipating customer needs and adapting strategies in real-time.
Platforms like X, Meta/Insta, YouTube, and Google shape brand perceptions and impact purchasing decisions, directly affecting your ROI. Customers expect not only to be heard but also understood and swiftly responded to. Predictive analytics helps in anticipating customer needs and adapting strategies in real-time.
It’s time for hotel operators to re-evaluate how well their ace in the hole – their loyalty program – is enabling every function of their business to deliver more value. Ask any traveler checking into a hotel after an exhausting business meeting, a white-knuckle flight, or a surprise marriage proposal. A bed is not just a bed.
share customerinsight among partners, so you know how to maximize lifetime value for each customer, and can create more personalized engagement. Create a list of five important customer segments. For each segment, brainstorm which other brands those customers engage with more than a few times a year. What to do?
If you operate a hotel or airline, the margin on incremental revenue from rooms or seats that would have gone unsold is more than 80%. Create ‘wow’ moments to keep customers engaged. That would increase gross revenue in the short-term and dramatically increase retention – because you are keeping the customer’s value in your ecosystem.
Surveys are widely used because they offer scalability, cost-effectiveness, and data-driven insights. They help businesses analyze customer preferences, product performance, and overall market demand. This also leads to better ROI on marketing campaigns, as you can focus on the most profitable customer segments.
Author: Pauline Ashenden Not only are holidaymakers now booking their travel and accommodation online, but the web has also paved the way for new business models, with more people going direct to hotels and airlines rather than booking complete packages from traditional travel agents. Why it is time to calculate the ROI of VoC programs.
This has mostly been via low-investment, tactical approaches that increase ROI, and educate the C-suite regarding long-term strategic value. Leadership is about moving your business into the future: understanding what customers will want in 1-3 years – and making changes today that can set your strategy on the right path.
And before even considering your request for increased resources, your CFO wants you to show the ROI of your customer experience initiatives. How Mature is Your Voice of Customer Program? The end result is the creation of yet another customer data silo that’s far from actionable. I conveniently ignored the email.
Customer-centric voice-of-the-customer respects customers’ inputs by emphasizing cross-functional collaboration in tackling the root causes behind chronic thorny issues. VoC ROI is highest when you’re using it to guide prevention of issue recurrence for all customers.
In loyalty, this can be especially powerful in using distressed inventory to create greater customer value for members, in adjusting margins based on demand, or proactively managing program liability. This will allow brands to build greater affinity by anticipating customer objectives and being present when the customer needs your help.
These types of solutions are often described as ‘CustomerInsights’ platforms, or more recently, Unified Data Analytics. That is, they need to be convinced that what you are sharing with them will not only help the company and the customer, but that the insights will allow them to do their job more successfully.
He is both CCXP and CMRP certified, has been listed in the top 25 CX professionals by CX Magazine, and also published a book on Customer Experience. He specializes in operationalizing customerinsight to drive better customer outcomes. Arie Goldshlager – Customer Strategy, Customer Analytics, Innovation Consultant.
Customer data: maximize ROI. Partners: optimize the mix to appeal to a broader array of customers. Emotional loyalty: add incentives along many touchpoints in customer journeys. As you prepare for change, simplify everything as much as possible – for the benefit of your team members and your customers.
Annette was named one of “The 100 Most Influential Tech Women on Twitter” by Business Insider and is regularly recognized by companies around the world as a top influencer in Customer Experience. Arie is a CustomerInsight, Customer Strategy, Customer Lifecycle Management, and Innovation Independent Consultant.
Stated a different way, ROI from loyalty marketing investments could grow exponentially with a few tweaks that put the customer´s interests first. This means merchants and travel suppliers will be able to capture useful data insights from a much larger set of customers, who again start identifying themselves at the point of sale.
Annette was named one of “The 100 Most Influential Tech Women on Twitter” by Business Insider and is regularly recognized by companies around the world as a top influencer in Customer Experience. Arie is a CustomerInsight, Customer Strategy, Customer Lifecycle Management, and Innovation Independent Consultant.
Thanks to supermarkets’ high customer frequency and good data analytics, grocery chains can dynamically apply different points earning levels based on the available margin on each item sold, FMCG/CPG-funded offers, and insight about the share of wallet they are getting from each customer. Town Lodge Hotels. Net Florist.
Relationships with suppliers, partners, dealing with customer issues, accounting, etc, needs to be proactively managed to optimize ROI. Managing a type of storefront where customers can shop for redemption options and pay with points can be a small or big business activity in its own right. Management. tours or museum visits.
Relationships with suppliers, partners, dealing with customer issues, accounting, etc, needs to be proactively managed to optimize ROI. Managing a type of storefront where customers can shop for redemption options and pay with points can be a small or big business activity in its own right. Management. tours or museum visits.
Such an approach is going to be all the more important now that airlines’ and hotel chains’ budgets seem likely to be heavily restricted for a couple of years. share customerinsight among partners, so you know how to maximize lifetime value for each customer, and can create more personalized engagement.
putting the customer at the center of your business model. Layering customer-centricity on top implies a single view of the customer – augmented with data from outside your business, and having the tools to make customerinsight actionable. The implications of digital transformation include.
Like most airline programs, they have formal partnerships with carriers which are popular with their local base – Singapore Airlines, Hawaiian Airlines, Etihad and about 15 others – as well as hotel, rental car, and bank partners. and a good selection of co-branded credit/debit cards.
A highly celebrated, award-winning, successful Customer Success Strategist, Anita Toth describes herself as a churn-crusher whose primary focus is to decrease the attrition rate of businesses. Anita leads a team that dives into the customerinsights of B2B SaaS clients and extracts actionable information from it.
But before we dive into what you need to know (and support) in order to create more value for your company and your customers… Acknowledging certain realities helps build a solid foundation for loyalty. Push your team to capture exclusive customerinsight. Your greatest asset is exclusive customerinsight.
Certainly that’s the case if the outcome will be greater ROI from the department, and an increase in my brand’s NPS score. The 40-60% of less frequent customers are a far larger commercial opportunity. Capture exclusive customerinsight. Your proprietary data tells you a lot about your most frequent customers.
When a bank compares the LTV of their customer in their current standard loyalty program with the huge LTV that is possible from a bank-sponsored loyalty ecosystem of many partners, they will want to get started immediately. That would allow the bank to set a price that promises the greatest ROI for each segment, or even each customer.
Think of it as tapping into your customers' direct thoughts and emotions so you can deliver exactly what they want. Whether through surveys, reviews, or social media, VoC helps you turn customerinsights into better business decisions. In this article we’ll delve into what Voice of Customer is and why it matters.
That means the mix of partners should include brands that fulfill a functional need, as well as those which are fun for customers to engage with – all while driving improved ROI for your business. Company culture also affects how companies treat and recognize customers.
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