In my last post I mentioned that I wanted to fully explore the impact of the below tweet from @OracleCX. If you did not read the previous post you can find the contents here: http://blog.evergegroup.com/?p=1138
— Oracle CX (@OracleCX) January 16, 2014
The first concept in the image above is Customer Loyalty but just what is loyalty in this instance, how can it impact a business and why should it be declared so important that it is chosen above all others as the choice resolution of 2014. Let us consider a simple definition from BusinessDictionary.com:
“The likelihood of previous customers to continue to buy from a specific organization. Great attention is given to marketing and customer service to retain current customers by increasing their customer loyalty.”
This of course is a gross simplification. There are strategic business models and methodologies that are supposed to teach us how to keep customers coming back. Many businesses employ groups of people to develop loyalty programs that award customers with discounts and other perks. The resounding theme here is keeping the customer happy and trusting of your brand whether it is through special programs, quality of product, strength of brand or customer service. Recently there has been a lot in the news about trust, without it there can be no loyalty.
Target is proof of this as they grapple with customer loyalty as the result of the data breach that exposed in the order of 40 million credit cards. Many people I know have been affected and they are struggling with making the choice to remain loyal or find a new place to patronize.
An article in Businessweek from December 2013 was aptly titled, “Target Seen Losing Customer Loyalty After Credit Card Breach”. From this article and others it is obvious that Target is trying to make it right. They have taken actions like increasing staff at call centers to decrease wait times while customers call in to inquire about the impact this breach has on them and in my home state of New York they have penned an agreement with the state attorney general to provide free credit monitoring for a year. I suspect that the fallout from this is not over yet but in time through proper initiatives they should be able to recover.
A great infographic I found on Oracles website explains what drives loyalty. I have included a snippet of it below but if you enjoy infographs like me, you can read the entire thing on Oracle’s RightNow product page: http://www.oracle.com/us/products/applications/rightnow/customer-service/infographic-customer-experience-1897068.html?iframe=true&width=650&height=600
Loyalty is certainly important and key to keeping a business from dying but should it be adopted as a resolution? The answer really depends on the particular business. If it is selected a best of breed application like RightNow CX could most definitely help maintain and increase loyalty through marketing campaigns, web self-service, knowledge and social monitoring.
February release is only weeks away from being available. Be sure to read up on all the latest RightNow specific information at: http://www.oracle.com/us/products/applications/rightnow/overview/index.html
If you are interested in learning more or have questions feel free to reach out to me at firstname.lastname@example.org
eVerge Group is an Oracle Platinum Partner with extensive experience. For more information about Oracle RightNow CX and our other business solutions, contact us through our website: http://www.evergegroup.com/contact.php
About the author: Rhianna Albert (Just Rhianna) has an extensive background in customer support systems and processes, is an active member of the CX community and has been implementing and integrating RightNow solutions for seven years.