With the internet and globalization providing customers nearly limitless choices, power has shifted from businesses to consumers. Consequently, it’s the customers that are making the call now. This major shift in power has made it extremely tough for businesses to sustain differentiation on the ba
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Customer Value can be defined as the satisfaction a consumer feels after purchasing a product or service which is measured in terms of what the customer has to give up in order to acquire the said product or service. The customer value created can be determined using two main criteria: Repeat Sal
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The 2013 Accenture Global Consumer Pulse survey revealed that 66 percent customers across the world made a switch to another brand or business just because of poor customer service. This clearly indicates that if businesses want to retain a huge base of loyal customers, they must improve customer ex
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Businesses are increasingly trying to tap into the minds of their customers in order to cater to their needs more effectively. By identifying who the customer is, they can be a step closer to knowing what he wants. Customer profiling essentially means getting to know your customer, and then designin
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Keeping your customer satisfied is the ultimate goal of every business. However, with intense competition, demanding customers and advancements in technology, retaining clients is a big challenge. With so many substitutes in the market and low switching costs, consumers are often willing to try a ne
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The competition between companies over customer loyalty has never been as challenging and driven as it is in today’s era. The trend of rising technology and increasing role of the digital world has changed the dynamics of all interactions, and especially that of customer service. Technological Ad
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Companies are recently looking to turn their customers into strong and passionate brand advocates, who can represent the company’s happy and satisfied customers and are more than eager to spread positive word of mouth, by sharing the praise on social media and other platforms. Let’s have a cl
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Crisis management is a set of strategies and measures designed to be used in case of sudden and significant negative events. Crisis management calls for quick decision making, so that the damage can be contained. Customer Service team’s role is very important when a company is faced with a crisis,
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Businesses often find themselves in embarrassing customer service train-wrecks, and lose important customers to poor service, which at times can be attributed to weak decision making during the recruitment process of customer service representatives. Businesses stand to lose millions of dollars i
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Understanding the Crowdsourcing Phenomenon The term crowdsourcing, is formed, by combining ‘crowd’ and ‘outsourcing’ together which basically means delegating work to a group of people so the tasks are divided. Through crowdsourcing, a group of individuals contribute towards a common task
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