Customer satisfaction and loyalty programs have become more important to retailers and service providers as they struggle to hold on to customers in a prolonged economic downturn. Indeed, membership in loyalty and reward programs, most of which promise savings in the form of special discounts or free merchandise, has increased significantly between 2007 and 2009. Yet the proliferation of programs and memberships has made it more difficult for individual loyalty programs to have the desired effect. And in the meantime consumer ratings of customer service suggest that retailers have considerable room for improvement.
This report examines customer satisfaction and loyalty programs from various angles in order to provide companies with insight and ideas for setting themselves apart in an increasingly competitive marketplace. The report includes:
- Profiles of leading customer satisfaction and loyalty programs across a variety of channels, identifying common themes and success factors - A discussion of economic factors driving increased interest in loyalty and reward program - Trends in the different ways customers contact customer service - The importance of customer service across different product and service categories and retail channels - Bill payment preferences - Customer service pet peeves - Concerns over privacy and information sharing
