Beyond loyalty: Meeting the challenges of customer engagement
A 2007 report from the Economist, based on research of 311 executives on their companies engagement practices tells us the ‘winning differentiator is no longer the product or the price, but the level of engagement - the degree to which a company succeeds in creating an informative long-term relationship.”
The term “engagement” has been used to describe all manner of marketing, loyalty, satisfaction and retention practices. But engagement today is about taking a more strategic view of customer relationships. The bad news is, highly engaged customers are the exception, not the rule.
Of the respondents that were surveyed by the E.I.U. only 13% believe their customers are very committed to their product, while 44% believe their customers are only somewhat committed. If CEOs really believe this, then they need to move heaven and hell until they get the results they want.
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