With the economic downturn affecting business, company CEOs and senior managers have highlighted the need to increase their focus on enhancing customer loyalty.
According to the CCS Business Leadership Survey, conducted by The Corporate Behavioural Specialists of 140 leaders across Australia, CEOs and senior managers found that the top 5 areas of focus for their business in a changing environment include: enhancing customer loyalty, talking to customers about how they can improve their services, aligning the company strategy to the current business environment, driving a culture of responsibility within the organisation and encouraging innovative ways of conducting business.
Colin Chodos, MD of CCS believes that the intense focus on customer loyalty will help businesses to drive a profit in a time when consumers are generally cutting back on their spending.
“The focus on Customer-centricity is not surprising, given the pressure on reduced spending… an important dimension will be how customers and clients experience you as a product or service provider.”
A number of companies have already begun to implement customer retention strategies including: measuring customer feedback, qualifying gaps in the market, understanding what customers value and tightening customer service processes.