Here are several excerpts from an article in marketingcharts.com about a recent study on how companies are tracking and managing customer feedback and propagating positive word-of-mouth. Check out the complete article for extensive detail on the study’s results:
Though top marketing execs believe that good customer experiences and positive word-of-mouth can increase loyalty and brand value, they admit that their companies are failing to properly integrate customer voice and experience into key business and marketing processes, according to a new study by the CMO Council, sponsored by Satmetrix.
The study, “Giving Customer Voice More Volume,” reveals that 38% of the 480 senior marketers surveyed say their companies have no programs in place to track or propagate positive word-of-mouth among customers and only 29% say their companies rate highly in their ability handle and resolve customer problems or complaints.
Moreover, 58% say their companies do not compensate any employees or executives based on customer loyalty, satisfaction improvements or analytics.
Customer listening, learning and leveling are critical qualities that need to be part of an institutionalized corporate culture, the CMO Council said. Yet, survey data demonstrates that most companies treat customer interactions around service situations and incidents only as problems that need quick resolution.
While companies have a long way to go in turning detractors into brand advocates, senior marketers are clearly aware of the importance of customer experience, the CMO Council said. In fact, an overwhelming 83% of respondents said it is either “essential” or “increasingly important” to have consumers as such advocates. In addition, 84% said positive customer experiences and word of mouth have helped their brands and businesses grow, while 44% of respondents admitted that high-profile negative customer experiences had at some point compromised their brands.
While only 31% of marketing execs rate their company’s commitment to customer listening highly, another 35% say it is “getting better.”
“Customer experience is one of the most critical determinants of brand strength and business growth. Yet, most organizations and senior marketers suffer from major blind spots and gaps in the way they interact, handle and respond to customer issues or problems,” said CMO Council executive director Donovan Neale-May. “CMOs must assume ownership for the customer experience and establish enterprise-wide measures and disciplines to ensure continuous improvement. We are missing a major opportunity to turn customer pain into competitive gain at every touch point through better use of web and contact center technologies and processes.”
