It is no accident that customer satisfaction and share of wallet are correlated.
Closing the loop not only bullet proofs customers from competitors it invites further, often more intimate, disclosure.
Disclosure happens between people who trust each other and in turn reflects the level of commitment to a relationship.
The key to the success of companies that have used customer feedback to improve business performance is in the quality of listening, the interpretation of the real issues, the imperative from the right people and the commitment to understanding how trust, disclosure and ensuring loyalty can be managed.
Communication is fundamental to establishing and maintaining trust.
Companies must actively tell their customers what actions they are taking to improve their experience.
A core challenge for experience professionals is to ensure they not only report these improvement actions on a one to one level as part of closing the loop, but ensure the wider improvement actions and progress against the CEO’s vision are communicated to all customers and employees.
