Posts Tagged ‘customer loyalty’
Posted on August 15th, 2012 at 12:57 pm by Angela Gordon
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Theme: Latest Post, Marketing | Tags: Accenture, Consumer Choice, customer expectations, customer experience, customer interaction, customer loyalty, customer needs, Customer Service, energy, Utilities
Earlier this year Accenture published the results of their 3rd annual global survey of energy consumers titled, Actionable Insights for the New Energy Consumer. This report provides energy organizations a detailed perspective into the current drivers influencing the shift in consumer needs and behaviors.
“The energy consumer landscape is constantly shifting with smart technologies, new products and services and challenging economic realities.” — Greg Guthridge, Global Managing Director Accenture Retail and Business Services for Utilities
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Posted on July 25th, 2012 at 1:02 pm by Barend van Doorn
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Theme: Business Transformation, Column | Tags: Analytics, Business Transformation, Core Systems Transformation, Cost reduction, CRM, customer loyalty, customer relationship management, Financial Services, High Performance IT, New technologies, Revenue growth, Sustainable Growth, Sustainable Profitability
In the boardroom of any bank, today’s executives are all discussing the same question: “How can we reduce costs and maintain profit as much as possible in a volatile and increasingly regulated market?”. Credit where credit is due, the income of banks has improved in the recent period. However not due to new credit growth. Improved profitability is still mainly being realized by lowering provisions on bad loans. It also seems unlikely that the returns on equity, as prior to the financial crisis, will return for most banks in the near future.
In reaction to the volatile environment, many banks respond in the traditional manner to the downward pressure on revenues. This includes the elimination of debit rewards, free checking, further reduction of transaction costs and other programs to help compensate for new initiatives and regulations. However, recent research by Accenture shows that many cost initiatives have a negative effect on the long term performance of banks.
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Posted on June 28th, 2012 at 3:23 pm by Barend van Doorn
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Theme: Business Transformation, Latest Post | Tags: banking, Core Banking, customer centricity, customer loyalty, Driving Growth, Emerging markets, Financial Services, FS, Innovation that works, Multi-channel distribution
It’s no overstatement to say that the legacy of the financial and economic crisis continues to strongly impact banks’ performance across the world. Banks are still subject to significant uncertainty and their customers’ trust and loyalty is at an all time low. To turn the tides they need to rebuild profitability and reboot shareholder value by driving growth in their core businesses.
In the race towards the future some banks are already taking a clear lead. Recent published Accenture report “Winning in the New Banking Era” examined the common characteristics and principles these leading banks share, and identifies seven key “strands” that create a foundation for achieving growth and reigniting shareholder value. Below I will discuss 3 out of 7 characteristics (as seen in the visual) in more detail.
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Posted on February 3rd, 2012 at 1:04 pm by Angela Gordon
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Theme: High Performance Business, Latest Post, Marketing, Open leadership | Tags: customer expectations, customer experience, customer loyalty, customer needs, Customer Service, Differentiated Service Strategy; customer service; workforce; digital interaction, Social Media
The thing about passion is that it is catchy…the energy it gives rubs off onto others. A colleague of mine had a recent ‘service experience’ and wanted to share it with me and I would like to share it with all of you. I would like to introduce you to Lucinde Klop (@Lucinde_K ) – another passionate customer service consultant from Accenture – and this is her service experience.
Selecting a new health insurance plan has been on my ‘to do list’ for a couple of weeks. I was not looking forward to this task, as I was expecting my only choice was between marginal differences in monthly payments and reimbursements. However, when I finally got to it, I was highly surprised! Not only could I choose from monthly payment options, but I could also choose between various levels of service defined per insurance package.
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Posted on January 13th, 2012 at 1:04 pm by Angela Gordon
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Theme: Business Transformation, Latest Post, Marketing | Tags: Customer Analytics, customer expectations, customer experience, customer loyalty, customer needs, Customer Service, Digital channels, Digital interaction, Social Media
A new year brings new hope, new chances, and new energy - or as the Dutch say – ‘nieuwe ronde nieuwe kansen’! At the start of 2011 I selected five key service themes for the focus of 2011; these unfortunately did not all play out over the course of the year. But one must not get disappointed in the lack of progress. One must smarten the goal and move forward…
For 2012 I have selected three service themes which are going to monopolize the conversations both on the blog and on location with our clients. In order of personal importance;
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Posted on December 30th, 2011 at 12:29 pm by Angela Gordon
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Theme: Business Transformation, High Performance Business, Latest Post, Marketing | Tags: corporate citizenship, customer experience, customer loyalty, Customer Service
As the end of 2011 approachs it time to take a moment to look back at all it has brought and all it has become. What a disappointment. Now I am not trying to be the grinch that stole away the happy holiday feeling but lets’ face it folks, no one really surprised us this year?!
I opened the 2011 year with a positive post about customer service and a challenge question as to whether this would be the year that companies would make the difference or if they would continue to kick-back and let customers scream at the door. As a law abiding Netherlands consumer let me just say I have lost my voice a few times this year. But has all been lost? Can our little Dutch customer service economy be saved? I still really believe so and am awaiting to meet the individuals with the ‘doorzettingsvermogen’ to change the game. Oh where oh where can they be….?
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Posted on November 9th, 2011 at 1:03 pm by AccentureNL
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Theme: Analytics, Business Transformation, Latest Post | Tags: banking, Customer Analytics, Customer insights, customer loyalty, Customer relationships, Customer retention, Finance, Financial Services, High Performance IT, self-directed customer, Service provider
Blog post written by Anke Schlichting. Anke is a former blogger on Blogpodium and Financial Service Technology lead Accenture Netherlands till January 2012.
As banks are still returning to more orderly trading positions in the aftermath of the financial crisis in early 2009, it becomes clear that they are now operating in a new environment. An environment where the economic fundamentals are changing, and even more significantly, so is the customer.
Expectations of customers globally are accelerating, with Accenture’s 2009 Customer Service Survey indicating that these have risen faster across service sectors in the last 18 months than in the previous five years, and that two in three consumers globally switched service providers in some sector during the last year. Accenture recently conducted the “Customer 2012″ Banking survey among 50 senior retail banking executives at major banks globally. The survey results describe a new world for banking in which the customer has finally taken control of center stage.
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Posted on October 7th, 2011 at 11:59 am by Jort Possel
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Theme: Latest Post, Marketing | Tags: customer centricity, customer expectations, customer loyalty, Economic downturn, Innovation that works, Markeing, Profitable growth
While many signs point to economic recovery, companies will need to work harder and smarter to find and capitalize on growth opportunities. In an environment undergoing profound change, the face of Marketing is changing.
According to the Accenture Marketing Executive Survey 2011, nearly eight in 10 senior marketing executives noted growing profitably was most important to their current marketing strategy. To support this renewed focus on growth, improving customer retention loyalty was cited as the most important business issue to address by 79 percent of marketing executives. The most important key aspect of this transformation is a heightened focus on building customer-centric loyalty in a rapidly changing consumer context.
Changing playing field: Is consumer loyalty truly a relic of a past era?
Marketing has a greater role than ever when it comes to returning companies to profitable growth—and the key will be developing a new, nimble and customer-centric approach. With fewer than 50 percent of consumers declared themselves to “feel loyal” to the brands they purchase, Marketing executives acknowledge the fact that they are increasingly challenged by major changes in their customer bases. The economic downturn significantly altered customers’ overall purchase behavior and what they want and expect from (their) providers, especially in terms of product quality, more value for their money and customer service.
Today’s customers are generally better informed, less influenced by conventional brands, and more likely to assess brands based on their own experience or the experience of their acquaintances. Customers are also increasingly aware of their power, as well as their value, and are not shy about exercising this power.
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Posted on June 16th, 2011 at 12:13 pm by Angela Gordon
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Theme: Driving Growth, Latest Post, Marketing | Tags: Accenture, customer experience, customer loyalty, customer needs, customer satisfaction, Customer Service, research, Social Media
The Accenture CRM Team recently completed a global survey of consumers to ask about their views and opinions in the area of customer service. In the Netherlands there were 1004 participants in the survey and the results were at times quite surprising! To keep it simple I have selected five key findings that I wish to share with you;
1. Customer service expectations are rising!
Globally, 40% of consumers stated their customer service expectations had risen as compared to one year ago. This figure dropped to 19% for the Dutch sub-set of consumers. Why so much less in the Netherlands…?
2. Dutch consumers are the least satisfied with the most important service characteristics!
From eleven pre-specified service characteristics, Dutch consumers gave the following three (in order of priority) the highest score in importance: ‘having employees who are knowledgeable and informed’, ‘having customer service employees who know my history so I do not have to repeat myself’, and 3rd place was ‘the amount of time I have to wait to be served’. After scoring the characteristics to determine which were the most important consumers then were then asked to rate how satisfied they are with the current delivery of these characteristics from Dutch service providers. On a scale of 1-5 (5 being highly satisfied) the scores are shockingly low;
- having employees who are knowledgeable and informed scored 2.74
- having customer service employees who know my history so I do not have to repeat myself scored 2.42
- the amount of time I have to wait to be served scored 2.44
So the service characteristics that are the most important to Dutch consumers are also those characteristics that consumers are least satisfied with. Odd, don’t you think? Are Dutch consumers not communicating to service providers what is important to them…? Or are service providers just not listening…? Read more…
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Earlier this year Accenture published the results of their 3rd annual global survey of energy consumers titled, Actionable Insights for the New Energy Consumer. This report provides energy organizations a detailed perspective into the current drivers influencing the shift in consumer needs and behaviors.
On the 26th of May Accenture sponsored, in conjunction with TeleTrain, the first annual Customer Service Seminar. The theme this year was to investigate and discuss the impact of new social media platforms on organizations and their interactions with the customers.
