This Week's Herman Trend Alert

Leadership in Normal 2.0
 

  The Herman Trend Alert

December 14, 2011

Fascinating Implications of New (Internal and External) Customer Loyalty Studies

Just as loyalty towards green products and services has fallen victim to the continuing economic woes around the world, so has customer loyalty---both internal and external to organizations.

In a surprising report recently released by Right Management, 84 percent of the respondents to an online poll said they "plan to look for a new position in 2012". That number is almost double the number found by Randstad in their recent poll. Only seven percent of these "internal customers" said a move was "unlikely" or that they expected to stay in their current positions.

On the other end of the customer spectrum, in a recent survey of service providers, 66 percent of respondents believed that their (external) customers are less loyal today than they were two years ago. If service providers want to attract new subscribers in saturated markets, they will need to implement loyalty strategies to combat competitors' aggressive offers. Due to this market saturation and increasing competition, 82 percent of service providers said that customer loyalty programs would be "very important" or "important" over the next five years to their company's strategy.

Customer retention and loyalty can become a new center for growth, if providers understand what their customers really want and develop their offers accordingly. Customer retention and loyalty programs must be started early in the customer lifecycle; they are important during the entire relationship between service providers and their clients.

It is unwise to wait until after the fact when they have already lost customers. Moreover, two-thirds of consumers stated that "personalized and tailored services, proactive care, and rewards for being loyal customers" would earn their loyalty.

Applying this advice to internal customers, we highly recommend that employers conduct "stay" interviews, instead of waiting until people leave to conduct exit interviews. Wise (external) marketers will begin implementing "stay" interviews as well.

Both internal and external loyal customers are expecting more from their suppliers at every level; employees, contractors, wholesale businesses, retail consumers are all demanding more. Intensifying competition in the various marketplaces is driving increasing focus on what works to attract and retain these valued customers.


© Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 336-210-3548 or https://hermangroup.com. To sign up, visit https://HermanTrendAlert.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."

HOW DOES SHE DO IT?
Our author Joyce gets quoted in TIME Magazine and other national media on a regular basis. You can, too! Sign up for ExpertClick.com. You will be found by the news media and in Google search: 1. Through your personal search-engine-optimized press room by 39 topics you choose; 2. By news releases pushed out 10 ways including Google News; 3. Be found in the 2020 printed Yearbook of Experts, Authorities & Spokespersons. Save 15% when you register by October 31st @ http://www.ExpertClick.com/Discount.

APF'S FUTURES FESTIVAL IN 3 DAYS: ONLINE OCTOBER 24TH: FULL SPECTRUM FUTURES
The Association of Professional Futurists proudly presents its annual online learning experiences on Full Spectrum Futures. Network with leading futurists from all over the world. And best of all, it's free to attend, though contributions are encouraged to help defray costs. For more information, visit here.

OUR VERSATILE TRANSLATOR ROCKS!
Excellent translation services from English, French, or German into Spanish. Especially well-versed in medicine/pharma and automobile industries. 5-year Bachelor Degree in Translation. Also editing and proofreading of all kinds of Spanish language documents. Flexible rates, depending on number of words, degree of difficulty/technicality, and turnaround. For an instant quote email Mariana Campora Lesti at marianalesti515@gmail.com or contact her on SKYPE at marianacampora.

To read this Herman Trend Alert on the web: https://hermangroup.com/alert/archive_10-21-2020.html.


Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers.

New subscribers are always welcome. There is no charge for this public service. The Herman Trend Alert is read by over 30,000 people in 90 countries, including other websites and printed periodicals. Click here to sign up for the Herman Trend Alert.

Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Herman Trend Alert service.


Subscribe or Unsubscribe to weekly Herman Trend Alert
View this week's Herman Trend Alert
Archived Weekly Herman Trend Alerts

                                                                                                                                                                                                                                                                                                                                                                         


[ Home About Products Resources Media ]

 

7112 Viridian Lane
Austin, TX 78739
Voice: 336-210-3548
Toll Free in US & Canada: 800-227-3566
E-mail: info@hermangroup.com


  © The Herman Group. All rights reserved.

Web site design by WebEditor Design Services, Inc.