Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Few companies earned true loyalty in 2010

In the cross-industry Loyalty Ratings Report by Temkin Group, only 24 companies - representing a mere 17% of the total group examined - earned a "strong" or "very strong" loyalty rating from customers.

"Loyalty is a critical asset that companies regularly squander. It's time for firms to better understand and deliver on the needs and desires of their customers," said Bruce Temkin, managing partner for the Temkin Group. "These results suggest that customers and their disposable income are still up for grabs."

The research analysed consumer feedback based on three elements of loyalty: repurchasing (how likely are they to buy something else from the company), switching (how likely are they to switch their business away from the company), and recommending (how likely are they to recommend the company to a friend or relative).

The top twenty firms in the 2010 Loyalty Ratings were as follows:

1. Amazon.com
2. Kohl's
3. Costco
4. Lowe's
5. Sam's Club
6. USAA
7. BJ's Wholesale Club
8. Target
9. JCPenney
10. Walgreens
11. eBay
12. Old Navy
13. Home Depot
14. Wal-Mart
15. Macy's
16. Rite Aid
17. CVS
18. Barnes & Noble
19. Southwest Airlines
20. Vanguard

Among the report's other key findings:

• Retailers took 18 out of the top 20 positions in the ratings, with the only non-retailers in the top 20 being USAA (insurance) and Vanguard (investments).
• Twelve companies had ratings that were at least 10 points higher than the average in their industry, including USAA, TriCare, Southwest Airlines, Regions, and Medicare.
• At the lower end of the loyalty spectrum, Radio Shack (retailers), Super 8 (hotel chains), and Gap (retailers) led 18 companies with loyalty scores at least 10 points below their industry averages.
• Led by Costco and Amazon.com, 36 companies had "very strong" ratings for consumers that are likely to recommend them to friends and colleagues.
• Three of the country's television service providers (Comcast, Charter Communications, and Time Warner) were in the bottom five in the ratings overall.
• Retailers had the highest average loyalty ratings for repurchasing and recommending, while investment firms had the highest ratings for switching.
• While no companies had "very strong" ratings for customers that are reluctant to switch, TriCare and USAA led the five companies that had a "strong" rating in this area.
• When it comes to having customers who are likely to purchase something else from them, Amazon.com and Old Navy led the 21 companies with "very strong" loyalty ratings in this area.

The full report is available for purchase (from the Temkin Group web site - click here (US$195 at the time of publishing).

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)