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Know more, do more: build customer relationships

Building long-lasting customer relationship is like maintaining friendship. When customers first come on board, an organisation should go the extra mile to show that they care. When things go wrong, an empathetic and human response could save a relationship from a breakup. Treating long-term customers with deep understanding also goes a long way. Although technology makes maintaining customer relationship easier, it doesn’t replace the human touch that customers highly value.

Customers are bombarded with loyalty offers and cards. When customers reach out to the organisation they have to wait in queue.

Mini Story

Customer relationship as retention strategy

Over 65% of customers defect because they think a service provider is indifferent to them, versus 15% that leave because they are dissatisfied with the service. Defection has little to do with the quality of the service but the quality of the relationship that is built from the beginning and over time. Investing in customer relationships improves the overall satisfaction, customer retention and loyalty.

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