We all make mistakes, and while most people believe that everyone deserves a second chance, financial institutions often find that a single foul-up can result in a lost customer. So how can your organization fight that response? We set out to answer that question, and, in particular, the role compensation plays in customer recovery.
In more exciting news, Connexions’ parent company, Affinion Group, has acquired of one of its top technology partners, Tavisca Solutions, a leading provider of innovative technology to the travel industry.
Last year, we announced the opening of our new customer service center in Tulsa, OK and unveiled a plan to add nearly 300 new employees to our rapidly-expanding team of travel industry professionals in 2018.
In our “Making Connexions” blog series, you’ll get to know the people who make up our team. This Q&A-style series will highlight some of our newest employees and help you understand more about their role, their expertise and what gets them excited for each day.
Loyalty program managers are often tasked with pulling together results decks and creating compelling charts and graphs to show off the health of their program. When done correctly, these reports can help tell the story of your work and provide insight into how to set your program up for success.
You may not know this, but Connexions Loyalty produces premium video content for those of us who prefer to watch and listen when gathering new ancillary travel and loyalty program information.
When loyalty program managers open their emails at 8 a.m., some may watch their inbox load through cautiously squinting eyes, hoping they don’t see the dreaded “high importance” exclamation point from someone on the social media team. According to Tracx, a social media monitoring service, there are more than 2.8 billion social media users worldwide – and that means, there are 2.8 billion people with their own personal broadcast channel in both good times and bad.
You don’t need an MBA to understand that keeping existing clients is less expensive than attracting new ones. While the Harvard Business Review tells us it’s five to 25 times more expensive to acquire a new customer than to keep a current one, there’s something logically intuitive that tells us that customer loyalty just makes sound business sense. And yet, so many companies today are not living up to their lip service when it comes to customer service. After all, customer service isn’t just the agent on the other end of a phone call or a chatbot. True customer service is much broader, encompassing an organization’s process, philosophy, structure and execution.
There are a variety of metrics organizations use to determine how their loyalty programs are running. Some program managers may look at industry report cards, others evaluate reward consumption or purchases made following a service remediation. If your organization is looking to revisit its customer service remediation program, arm yourself with insights that may help your program be more effective.
Let’s face it, no matter how hard organizations try to prevent it, at some point even your best customers are likely to experience less-than-perfect customer service. While there should be considerable focus on constantly improving customer service, determining how to best atone for those missteps also deserves your attention. Ask yourself, what’s the best way to compensate customers at that critical time when they – and your brand – need it the most?