Fascinating Implications of New (Internal and External) Customer Loyalty Studies

Guest post by: Joyce Gioia
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Increasing Workplace Stress is Hazardous to Health - By Joyce Gioia

In a surprising report recently released by Right Management, 84 percent of the respondents to an online poll said they "plan to look for a new position in 2012". That number is almost double the number found by Randstad in their recent poll. Only seven percent of these "internal customers" said a move was "unlikely" or that they expected to stay in their current positions. On the other end of the customer spectrum, in a recent survey of service providers, 66 percent of respondents believed that their (external) customers are less loyal today than they were two years ago. If service providers want to attract new subscribers in saturated markets, they will need to implement loyalty strategies to combat competitors' aggressive offers. Due to this market saturation and increasing competition, 82 percent of service providers said that customer loyalty programs would be "very important" or "important" over the next five years to their company's strategy.

Customer retention and loyalty can become a new center for growth, if providers understand what their customers really want and develop their offers accordingly. Customer retention and loyalty programs must be started early in the customer lifecycle; they are important during the entire relationship between service providers and their clients.

It is unwise to wait until after the fact when they have already lost customers. Moreover, two-thirds of consumers stated that "personalized and tailored services, proactive care, and rewards for being loyal customers" would earn their loyalty.

Applying this advice to internal customers, we highly recommend that employers conduct "stay" interviews, instead of waiting until people leave to conduct exit interviews. Wise (external) marketers will begin implementing "stay" interviews as well.

Both internal and external loyal customers are expecting more from their suppliers at every level; employees, contractors, wholesale businesses, retail consumers are all demanding more. Intensifying competition in the various marketplaces is driving increasing focus on what works to attract and retain these valued customers.

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Increasing Workplace Stress is Hazardous to Health - By Joyce Gioia

About the Author: Joyce Gioia

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Ms. Gioia is a workforce futurist concentrating on relationship aspects of the future. This arena includes workforce and workplace trends, as well as consumer, education, and business-to-business trends. She is also CEO of Employer of Choice, Inc, a distinction earned only by companies whose leadership, culture, and best practices attract, optimize, and hold top talent. Employers of ChoiceÂ® enjoy "a higher level of performance, greater workforce stability, and the level of continuity that assures preservation of the knowledge base, customer loyalty, employee satisfaction, and stronger profits". (www.EmployerOfChoice.com). Gioia has also co-authored five books which are focused on what employers must do to attract, optimize, and hold onto their best employees.
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