
There’s no one better at boosting buyer loyalty than these 10 companies. But what’s even more intriguing are the two practices they all have in common, and you don’t have to be big to implement them at your company.
PeopleMetrics recently released its annual customer engagement study, based on a year’s worth of research and customer feedback. According to the study, customers become “engaged” (i.e., devoted to a specific brand or company) based on consistent, positive interactions over the course of time.
The 10 best-in-class companies this year (in order):
- Ritz-Carlton
- The Four Seasons
- Netflix
- Cartier
- Armani
- Newegg.com
- Wegman’s Food Market
- Coach
- Costco
While most of these companies cater to a different niche, all 10 companies were found to have these two things in common:
Dedication to employees: These companies specialize in making sure employees take pride not only in their job, but in their commitment to the company itself (e.g., Ritz Carlton refers to all of its employees as “ladies” and “gentleman”). These companies also offer recognition, bonuses and incentives for employees who go above and beyond to make customers feel like their business is valued.
Quick and efficient handling of Service issues: The study revealed that one in four customers who experiences a problem never tells the company about it. Best-in-class companies avoid that by maintaining consistent, proactive contact with customers (e.g., Netflix asks for instant feedback about every DVD subscribers view and it also sends constant
e-mail surveys, encouraging feedback and asking customers to contact the company 24/7 if any problems arise).
The key takeaway: While the economy may make it difficult to woo buyers with discounts and one-time offers, engaging buyers is a proven way to boost loyalty and keep competitors from swooping in to steal away your best customers.
For more, check out a summary of the 2009 PeopleMetrics Most Engaged Customers Survey.
BusinessBrief.com delivers the latest business news once a week to the inboxes of over 180,000 executives.
Click here to sign up and start your FREE subscription to BusinessBrief!
advertisement
Tags: buyers, customers, economy, loyalty, marketing, PeopleMetrics, sales, service
July 2nd, 2009 at 9:37 am
I am really surprised LL Bean didn’t make it to this list. I’ve always found their customer service not only helpful and knowledgable but the company stands 100% behind everything they sell. You don’t find that winning combination often.
July 2nd, 2009 at 7:15 pm
In addition to the points made, these companies have very strong customer centric and employee centric cultures where customer loyalty is reinforced as being important at every level of the organization.
July 20th, 2009 at 6:47 pm
Just a short note,a company you may have over looked “The Buckle” , retail stores in many of the U.S. better Shopping Malls. They practice all of the core customer service,and employee dedication that any one could want. http://www.buckle.com