Achieving World-Class Customer Service: Operational Tactics that Boost Consumer Loyalty.Business Editors CHAPEL HILL, N.C.--(BUSINESS WIRE)--Jan. 6, 2003 Intensive customer-retention tactics create a clear differentiation between successful companies and those that fall behind in today's economy, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a study by research and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a Best Practices, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . With today's web-empowered customers demanding higher levels of services than ever before, companies retain and increase customers by delivering on a superior corporate vision of exceptional customer service. "Achieving World-Class world-class adj. 1. Ranking among the foremost in the world; of an international standard of excellence; of the highest order: a world-class figure skater. 2. Customer Service," available at http://www.benchmarkingreports.com/r/r398.htm, reveals customer service tactics that impact customer retention and subsequently drive bottom line profits. Examples from the study include: -- A leading financial institution measures both customer use of and satisfaction with its services. Insights found from these measurements have led this company to a 98 percent retention rate of profitable customers. -- A leading service industry company trains employees to examine customer behavior and record data in computerized customer profiles. Employees use this information to tailor services, match customer preferences and drive loyalty. The leading practices and managerial insights included in this report are drawn from exclusive interviews with customer service executives and research from more than 90 companies across multiple industries. In addition to customer retention practices, this report includes information on: -- Using customer preference data to deliver premium service -- Encouraging employee development through teamwork (product, software, tool) Teamwork - A SASD tool from Sterling Software, formerly CADRE Technologies, which supports the Shlaer/Mellor Object-Oriented method and the Yourdon-DeMarco, Hatley-Pirbhai, Constantine and Buhr notations. systems and incentives -- Defining the guiding mission and objectives of a customer service strategy "During the current market downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. , the fight to retain customers is growing desperate," said Chris Bogan, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Best Practices, LLC. "Employees who are empowered to understand and react to individual customer preferences will delight clients and drive repeat business." Download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. summary for "Achieving World-Class Customer Service" at http://www.benchmarkingreports.com/r/r398.htm . For more information about this report or other benchmarking reports, contact Susan Silverstein at (919) 767-9251 or at ssilverstein@best-in-class.com. ABOUT BEST PRACTICES, LLC Best Practices, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class organizations. For more information, call 919-403-0251 or visit http://www.best-in-class.com. |
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