Strativity Group, Inc. Reveals Negative Customer Relationships, Execution Challenges Put U.S. Companies at Risk
HACKENSACK, N.J., March 12, 2013 — Strativity Group, Inc., a global customer experience transformation firm, today announced the release of its 2013 Corporate Love Meter, an international survey of 402 executives polled about their company’s customer relationships. Respondents scored themselves poorly, with 74% characterizing their customer relationships as an “open marriages,” meaning they fully expect customers to use competitor services.
While 52% believe customer relationships will strengthen in 2013, the survey identified substantial gaps between perspectives of executives and non-executives, the latter, which interacts most with customers. Two-thirds of executives expect to implement a new approach this year to rejuvenate relationships, while 52% of non-executives are sticking to a “business as usual” approach. This unvaried model presents a serious execution problem for companies looking to solidify customer loyalty and hence, increase profitability.
“Much like personal relationships, companies must engage and maintain strong communications with their customers, even when they aren’t at odds,” said Lior Arussy , CEO of Strativity Group, Inc. “If you exchange infrequently, or only when a customer has a complaint, then it’s time to call in help.”
Key takeaways include:
Take a look in the mirror: Companies need to examine their emotional commitment to customers and how customers view this commitment. Currently, 74% of customers do not display loyalty to brands, and in order to bring about change, companies must woo customers to demonstrate they are valued.
Fall in love again: To build trust, companies must reconnect with customers to learn who they are and what their needs entail. Following this back-to-basics approach, a company-wide strategy must be developed and executed.
Engage in emotional love: While companies monitor price and product innovation, the emotional impact on customers is often ignored. Understanding and appropriately responding to the customers’ emotional needs is a prerequisite for customer engagement.
Bridge gaps: Internal commitment, communication and employee education are critical components of customer satisfaction. Far too often, excellent strategies are designed, yet fail, due to poor communication throughout the company, or because employees don’t receive necessary tools to succeed. Only 48% of non-executives expect to provide exceptional service and introduce an innovative product or service.
Communicate during peacetime: Over 80% of respondents admitted they only speak with their customers when there is a complaint or when absolutely necessary. However, all interactions serve as an opportunity to make customers feel important, understood and valued.
Equip them: Over half of survey respondents plan to introduce a new product or service in 2013. For offerings to be successful, companies must define the experience they want to be known for, and employees must receive the tools to deliver this experience.
For more information regarding the survey, visit:http://www.strativity.com/knowledge_center/our_library/customer_experience_management_research/downloadable_pdf_file/corporate-love-meter-2013.
About Strativity Group, Inc.
Strativity Group, Inc. is a global research and consulting firm advising organizations on creating lasting, profitable relationships with their customers and employees through the transformation of their strategies and execution to revolve around the customer experience. Strativity Group was founded 11 years ago and has successfully completed more than 150 transformation projects worldwide. These transformation projects have impacted over 200 million customers and 350,000 employees.
Strativity Group, Inc. works with both Global 2000 companies, as well as emerging businesses around the world. Our clients include Mercedes Benz , Royal Caribbean, MasterCard, Iron Mountain, Nokia, Computer Associates, SAP, American Management Association, Seagate, Honeywell, Siemens, Dimension Data, FedEx, CATIC, OptumRx, University of Pennsylvania, Gaylord Hotels, BCBS Minnesota, Procure, Capital One, Wyeth, Sage, Herbalife, Akibia, National, Lockheed Martin, Crown Plaza Hotels & Resorts and Nordea.
