Wednesday, February 06, 2008

Information As A Competitive Advantage - Part 3, Creation Of Customer Value Through Retention

Information for Customer retention The Customer expectations vis-à-vis service procurement can be captured by asking his/her preferences (e.g. a Customer may wish to have a product demonstration). Satisfying the Customer expectation, based on the information given, contributes to a positive Customer experience. Customer requests, preferences or comments on the service procured, represent valuable information and an opportunity to improve, for the Business. Complaints should also be considered by the Business, as an opportunity to improve. A Customer whose comment or complaint has been resolved satisfactorily, becomes a loyal Customer. All this information should be systematically gathered from all interaction channels, a challenging task which requires implementation of an integrated information system, deployed to all customer facing channels.

Monitoring service quality indicators, is important in order to assure satisfactory levels. Information on the service quality levels, as perceived by the Customers, is very important, since it completes the internal information. The combination of internal information with information gathered by the Customer creates a complete view of the service quality levels. Information for customer loyalty building Customer preferences information should be captured during interactions. Use of this information to provide customised service can have a very positive result, preventing the trial of competetitive products.