Organizations have realized that the direct linearity between customer satisfaction and loyalty has become less significant in today’s world as customers not only demand the best out of every product or service they purchase but also engage with the brand through multiple channels – blogs, social network, videos etc. True customer centric organizations understand that the technological advances, increased competition and the advent of social media have increased alternate choices for a customer who is influenced by the quality of their experience with the brand. In addition to the quality of the product or service, factors such as management of multiple touch points and action on customer feedback from various listening posts have gained importance to ensure best in class customer experience.

Companies need to harness the power of social media, big data and enterprise data along with insights from traditional market research to deliver the highest quality of customer experience. Some of the key trends in today’s “new normal” of customer loyalty are:

 

Therefore, a truly holistic solution demands that the insights from multiple sources of customer information come together. Genpact’s Customer Experience Management (CEM) framework is designed to address these specific trends in the market place and provides actionable insights by fusing multiple capability dimensions such as – Primary Market Research, Secondary/Business Research, Social /online Media research, Data Analytics.

 

Genpact has extensive experience in setting up loyalty research programs for clients that include both business-to-business (B2B) and business-to-consumer (B2C) customer loyalty studies. Our experience has taught us that B2B customer relationships are at least as amenable to proactive loyalty management as B2C ones. In B2B, though, there is frequently a multilayer relationship structure, and hence, a greater needs to differentiate among strategic/decision-maker contacts, influences and implementers/operational contacts within a customer organization.

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Building on our expertise in traditional research and significant experience in social media (Empower), Genpact offers “Customer Experience Management (CEM)”, a comprehensive solution that captures insights from multiple listening posts on customer’s experience across life cycle stages and touch points. The CEM framework helps clients deliver best in class Customer Experience with an understanding of customer opinions and intent, further strengthened with predictive analytics and finally drive actions to transform business processes or influence customer behavior to close the loop.

 

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Strategize, Implement and Monitor: Managed over 20 studies for a major insurer in a year’s time, indentified gaps in the value chain and helped the client drive changes through process re-engineering. These efforts boosted Loyalty scores from 28 percent to 37 percent within a period of 18 months.

Customer Driven Growth: Conducted a Loyalty study for a Fortune 500 consumer electronics company that featured a combination of face-to-face and computer-assisted telephonic interviews in 15 languages to query channel-partners across four continents; this study helped the business understand the category drivers for loyalty across countries and the overall customer loyalty leadership increased from 57% to 81% in three years.

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