Building Customer Loyalty – 15 Guaranteed Ways You Must Try

So you want to build an overwhelming customer loyalty for your brand.

That sounds great!

But building customer loyalty is not an easy task.

As a matter of fact,

In the U.S., 78% of customers are not loyal to a particular brand. (Source: Nielsen)

But why?

Because, either the business does not take care its customers properly or does not give enough value to glue customers.

Now,

Question is how to build customer loyalty then.

In this article, we will discuss 15 factors here to improve customer loyalty.

15 ways of building customer loyalty:

1. Improve customer service

Are you serious about building customer loyalty?

Then, very first step is to improve customer service.

Because,

67% customers stop buying products from a shop/brand just for bad customer experience.

Moreover…

Improve Customer Loyalty

Only 1 out of 26 unhappy customers complain. – (Source: 32 Customer Experience Statistics)

So it is difficult to know how many unhappy customers you really have.

Make sure, customer service team is knowledgeable enough about your products to handle customers’ queries.

Every customer is different. Customer service team must be flexible to handle all kind customers.

Remember,

Customers are the most valuable asset of your company. You must nurture them in proper way.

2. Say Hello and Good Bye

It may look crazy but matters a lot.

Tell me where you feel good…

– You buy an item from a shop and after billing, shopkeeper thanks you and say ‘Have a nice day!’

– Or you buy any item without any interaction with shopkeeper

Obviously first scenario has a feel good factor, right?

Customers do more business when they are greeted well.

That is the power of a good gesture and greeting. It builds customer loyalty for a brand.

So,

Do you greet your customers properly?

Do you thank them for purchasing products or services from you?

What about a friendly smile?

All these matter….

Remember, every customer is special and they must be treated in special way.

“Hello” with a smile makes your customers comfortable to do business with you.

Also don’t forget to thank your customers for buying products from you.

3. Ask for feedback

Do you ask your customers to share feedback about your brand or product?

Your most unhappy customers are your greatest source of learning. – Bill Gates

To build sticky customers, you must listen what customers think about your products or services.

Why customer feedback is important in building customer loyalty?

  • By analyzing customer feedback, you can measure customer satisfaction index. Your customers are the best advisers. Only they can tell you if your business sucks 🙁
  • Listening to your customers is the best strategy to reduce churn rate. From customer feedback, you can identify your unhappy customers and reasons behind it.
  • Customer feedback can give you new product and pricing ideas.
  • Asking feedback from your customers shows that you care their viewpoint. This helps to build trust, create strong relationship and improve customer loyalty.

So get a thick skin and invite criticism from customers.

But

Getting feedback from customers is not an easy task.

Because…

Research says that only 1% of customers leave feedback unless business asks directly. (Source: Feedback and Loyalty)

So, ask for feedback using various channels but remember, it must be customer’s preferred channel.

Few common customer feedback channels are like –

  • In person interview
  • Social media
  • Email
  • Telephone
  • SMS
  • In-app feedback
  • Usability testing
  • Suggestion boxes

Another important point –

Customers take time out to provide their feedback. You must thank and acknowledge customer’s response. You can give incentives as well for sharing feedback.

strategies to maintain customer loyalty

(Source: Feedback and Loyalty)

4. Introduce a loyalty program

This is an important factor in building customer loyalty.

Because…

building customer loyalty

Source: Nielsen Global Retail Loyalty-Sentiment Report

You must reward your customers every time they do business with you. This encourages your customers to repeat their business.

For example,

An airline can run a loyalty program that allows customers to collect points or miles every time they buy tickets. After certain points, customers can redeem it to book a FREE flight.

Or

A coffee shop can offer a free drink after buying 10 cups of cappuccino.

Customers buy products to collect points and you reward them for doing so.

It’s a win-win game!

We will discuss more about introducing of loyalty program in a separate article.

But remember,

Before introducing a loyalty program, you must know where you currently stand and your business goal.

Most important rule to make your loyalty program successful – keep it simple and creative.

It is better to give 1% cask back on every purchase than putting some complex rules that customers never understand.

Now ask yourself…

Is your loyalty program/reward same as your competitors?

Introduce a creative way to make your loyalty program different from others. Even an amazing program name could make a difference.

5. Build a personal relationship

No one likes to do business with a robot, right?

You must build a mutually beneficial relationship with your customers. It helps your customers to trust you more.

You can assign a customer service representative for each individual to build a healthy relationship.

Also personalize all communications like emails, letters – ‘Dear John’ is more attractive to John than just ‘Dear Friend’.

Customers want to feel that you care about them.

6. Know your customers

This is another important factor to improve customer loyalty.

Do you know your customers well?

Build Customer Loyalty

Source: IBM

Do you know your customers’ preferred communication channels?

Or their preferred payment options?

Or their involvement in social activities?

Think about it,

If a customer likes email and you send letter to introduce your new product, will it be effective?

Or

If a customer prefers online payment and you do not have this option, will that customer prefer to buy products from you?

To retain existing customers, very first step is to know them well.

You must capture customer details as much as possible.

It helps you to reach out your customers in their preferred way. It also helps you to understand customers’ buying pattern, their behavior.

7. Know your competitors

Knowing your customers well is not enough to make them loyal!

You must know your competitors as well.

Moreover, knowing your competitors is more important than knowing your customers.

Because, if you do not have good knowledge about your competitors, you can not implement a better loyalty program.

Many customers buy products from a single shop because that shop is more convenient for them or they do not find any competitor.

If they find similar product with better value from your competitor, you will lose them.

Lets see how well you know your competitors.

Can you answer these questions –

What your competitors do to retain their customers?

Do your competitors have any kind of loyalty reward program? How successful their loyalty program is?

What is their future product?

You must keep yourself update to date about your competitors.

There are many ways to know your competitors – follow social activities, read company newsletters, join trade show.

You must give something extra to your customers that your competitors do not. It could be discounted price or some extra services or better values.

8. Invest in a self-service channel

A recent survey, conducted by Nuance Enterprise, shows huge positive response in self-service.

What customers say about self service?

improve customer loyalty

What is self service?

Self-service is a kind of electronic support that helps end users to gain information and perform tasks without or minimal involvement of live customer service representative.

It includes knowledge base, FAQ, self check out, interactive voice response etc.

Also self-service is the most cost effective and efficient way to address customers’ issues.

Gartner predicts that by 2020, customers will manage 85% of their relationship with the enterprise without interacting with a human.

So, create a FAQ or a knowledge base where customers can clear their doubts easily. This will improve customer satisfaction and loyalty.

9. Educate your customers

Do your customers or prospects know how your product can solve their problems?

If you sit back and wait for an overwhelming response, it is never going to happen. Rather you must educate your customers about your products or services.

There are many ways to educate your customers.

You can write an article that talks about customers’ pain points and show how your product can solve it.

You can prepare an eLearning course so that customers can take it as per their convenient time.

The point is,

You must show case your unique point of view to stand tall among your competitors by educating your customers.

10. Make quality a priority

Remember,

No matter how good your customer service is, if you can not meet customers’ needs, you can never build customer loyalty.

If customers feel that you have best product, they are going to buy it again and again.

Customers are ready to pay more if your product has something extra that your competitors don’t. It may be a ‘must have’ feature or quick delivery timing or high accuracy.

11. Social Media presence

You know,

Nowadays social media plays an important role in any business.

Social media gives you an opportunity to interact with customers directly.

Appreciate customers publicly, solve their issues, ask for feedback – all these help you to enjoy higher customer loyalty.

customer retention through social media

(Source: Convince&Convert)

But question is – why customers should follow you on social media?

Because,

You always give a reason to customers to follow your brand. Reasons could be anything like a contest or reward to follow you or quick solutions of customers’ issues.

More your engage your customers, more you earn customer loyalty.

12. Live chat

Do you offer live chat option to your customers?

If not, you must think about it.

Live chat plays as important role in building customer loyalty.

Web chat adoption among customers has increased significantly in the past few years.

Increase customer loyalty

Source: Forrester

Not only that,

Customers who choose live chat, are satisfied a higher percentage (92%) than other channels like email, call or letter. (Source: Zendesk)

13. Communicate using preferred communication channels only

Business must communicate with customers using their preferred communication channels only.

If the customer prefers emails and business sends letter, it will help neither customer nor business.

Even it could create customer dissatisfaction.

Do you want to know how it matters?

51% of customers are loyal to brands that interact with them through their preferred communication channels. (Source: Accenture)

14. Safeguard customer personal details (Strictly!!)

If you are serious about building customer loyalty, then you must protect customer personal information.

Make your customers confident that their personal details like contact nos, email ids, addresses will not be misused.

Because…

Research says that 85% are loyal to brands that safeguard and protect the privacy of their personal information. (Source: Accenture)

And last but not the least,

15. Walk an extra mile

Think out of box…building customer loyalty examples

What can make your brand different from competitors?

How to keep customers happy always?

It could be anything like a personalized gift on birth day or a ‘Thank You’ note or just a cup of coffee.

Reward your customers something different, not just loyalty points.

How about this one – a monthly lucky draw to pick ‘Star customer of the month’?

Do the unexpected!

It will make your customer happy and improve customer loyalty.

Well,

Do you know –

41% of U.S. consumers are loyal to brands that offer them the opportunity to personalize products to create something that is bespoke to them. (Source: Accenture)

I didn’t…  😀

Before closing this article ‘Building Customer Loyalty‘, let me share an idea…

Once a customer (say Amelia) enters into a shopping mall, store XXX sends a personalized text to her –

Like: ‘Welcome Amelia! Special offer for your – enjoy 15% off when you shop with XXX brand.

Do you think – this message will attract Amelia to buy from store XXX? Atleast she will think to visit this store?

Please share your thought below.

Previous article: Importance of Customer Loyalty

Next article: Customer Loyalty Statistics

Keep in touch, follow TechOneStop on Facebook / Twitter / LinkedIn / Google+.

What is Customer Loyalty?

Customer LoyaltyResearch, done by PR Newswire, says that the Loyalty Management Market is expected to grow from USD 1.4 Billion in 2015 to USD 4.0 Billion by 2020.

Now question is – why companies are investing more on customer loyalty and retention? What is Customer Loyalty, exactly?

Well,

Before we jump in to customer loyalty definition, let’s take an example.

Suppose…

You want to replace your old iPhone with a new phone. Will you buy only newer version of Apple iPhone when you get other branded phone with same features and lower price?

Do you want to try other Apple products as well like Apple TV or Mac or iPad?

If you buy Apple products or services all the time, you may be a loyal customer of Apple.

Why ‘may be‘? – That we will discuss later.

So,

What is Customer Loyalty?

Customer Loyalty is an emotional bonding between an organization and its customers.

Loyal customers favor one brand or shop or service over all others, buy products frequently, spread good words and generate leads.

Now think about our Apple iPhone example.

You may replace your old iPhone with a brand new iPhone but do you have emotional bonding with Apple brand?

Do you recommend your friends and families to buy Apple products?

Do you frequently download or buy software, apps and songs from Apple’s Store?

All these activities decide that you are loyal customer of Apple or not.

The point is…

A business can not call a customer as loyal customer just because that customer buys products frequently from same store or brand. Customer must be emotionally attached with the brand to be loyal.

Customer loyalty is more about engagement and relationships between a brand and its customers.

What is Customer Loyalty

Now question is…

Why does a brand or business need customer loyalty?

Because,

There are many benefits of customer loyalty. Let us discuss few here.

Customer Loyalty Benefits:

1. Repeat business

Repeat business is when a customer buys products and services from a same store or brand frequently.

It has huge impact in any business because…

Customer Loyalty - Repeat business 1

80% of a company’s revenue comes from just 20% of its existing customers. (Source: Gartner)

 

Customer Loyalty - Repeat business 2

Acquiring a new customer is five times costlier than retaining an existing customer. (Source: Forrester)

Above 2 statistics explain a lot why retaining existing customers matter for a company. To retain existing customers, business needs to build or improve customer loyalty.

Loyal customers are more likely to buy products and services again and again from the same store or brand because it has already won their hearts.

2. Cross and Up selling opportunities

This is another benefit of customer loyalty because…

Cross and Up selling opportunities

According to the book Marketing Metrics Probability of selling to an existing customer is 60 – 70% where probability of selling to a new customer is 5-20%.

As existing customers trust you more than a new customer, it is easy to cross sell or up sell products or services to them without much effort. It increases sales volume as well as revenue without acquisition of new customers.

3. Reduce marketing costs

Tell us,

What do you trust more – friend’s recommendation or a TV advertisement?

In this digital age, Word of Mouth is still the most effective way to do advertisement.

According to Nielsen’s latest Global Trust in Advertising report, 92% customers trust earned media like recommendations from friends and family more than any other forms of advertising.

Not only that,

Second most trusted source of product or brand information is online consumer reviews.

Loyal customers talk about your products, give real feedback, recommend friends and families. Business can use feedback to improve services, launch new products and get better customer insights.

4. Stand tall among competitors

In this super competitive market, it is really difficult to make your brand separate from others. Only loyal customers can create the difference by doing repetitive business, recommend products and services and share feedback.

(To know more, read this – Importance of Customer Loyalty)

Loyal customers are the real asset of your business.

But the problem is…

78% of customers are not loyal to a particular brand. (Source: Nielsen)

So,

How can a business retain its existing customers?

How to build or increase customer loyalty?

There are 15 factors that can help business to build an amazing customer loyalty.

Factors to build or improve customer loyalty:

  1. Improve Customer Service
  2. Say Hello and Good Bye
  3. Ask for feedback
  4. Introduce a loyalty program
  5. Build a personal relationship
  6. Know your customers
  7. Know your competitors
  8. Invest in a self-service channel
  9. Educate your customers
  10. Make quality a priority
  11. Social Media presence
  12. Live chat
  13. Communicate using preferred communication channels only
  14. Safeguard customer personal details
  15. Walk an extra mile

We have discussed these factors in details in another article. Read this – Building Customer Loyalty.

Now you know what is customer loyalty, its importance and how to improve it.

But, wait!

Here is the most important part…

Types of customer loyalty and customers.

Why it is important?

Because,

Before implementing customer loyalty program, you must know your customers and different types of customer loyalty. Otherwise whole loyalty program will fail DEFINITELY.

We can divide customers and customer loyalty in 5 distinct types.

Types of Customer Loyalty / Customers:

Types of Customer Loyalty

1. No loyalty

Few customers purchase goods or services from you whenever they feel to do so but never develop loyalty.

But these customers could be loyal to other brands.

For example, one of your customers goes to any shop to get a haircut where he does not need to wait. But he uses only Apple products and services.

Though that customer is loyal to Apple brand but certainly not to any salon.

It is very unlikely that even the best loyalty program can make these customers loyal to the business.

Frankly speaking, business should not target these customers as they bring very little value for the company.

2. Satisfied but Not Loyal

You will always have few customers who are satisfied and look like loyal to your business.

But in reality they are not loyal. They are satisfied with your products and services but it’s only satisfaction.

While they don’t dislike you, don’t love you either.

They will be with you until your competitors offer better service and customer experience.

However,

You can put extra effort to glue these customers with your business.

First find out this kind of customers and then ask what can make them happier and offer it.

3. Loyal to Low Price

Product or service cost plays an important role in customer loyalty.

Moreover,

61% Americans and 54% Europeans switch brands just because of price. (Source: Nelson)

Few customers are loyal to your business till you offer lowest price. If they find lower price elsewhere, they will leave you.

It also includes those customers who purchase products only when you give discounts.

Remember,

If you are competing in low price arena, then make sure you charge lower than your competitors. Otherwise you will lose these customers.

4. Loyal to Convenience

Few customers buy products from same store just because it is nearby their home / office.

Another reason could be that the customer has good personal relation with one of your business representatives.

It means, these customers are loyal to convenience, not your shop.

If these customers move their home or business representative quits the job, they will stop doing business with you.

You can make these customers loyal to your brand by proving that convenient is not always a reason to do business.

5. Real loyalty

These customers are your real strength.

They do repeat business, recommend your products, give valuable feedback and generate leads.

These customers will never leave your business unless they have very bad experience.

You must show extra care to these customers. You must talk to them regularly, listen their problems, try to fix it and must thank them.

The more you give, the more you receive from these customers.

Before closing this article, let us see couple of successful loyalty programs.

Customer Loyalty Examples:

1. Amazon Prime

Amazon Prime is one of the most successful loyalty programs.

Just for paying $99/year, prime members gets exclusive access of movies, ad free music, fast and free shipping, unlimited photo storage. It gives enough value to its members to do repeat business.

As a result, prime members spend on average $1500/year, compared to $625/year for non prime members. (Source: Consumer Intelligence Research Partners)

2. Starbucks Rewards

This is another example of best loyalty programs.

Every time you use Starbucks loyalty card to buy something from Starbucks stores, you earn a Star. You can redeem these Stars to get Starbucks rewards like a free drink or card upgrade .

Now,

It is pretty clear – What is Customer Loyalty and why it is important for a brand or store.

Here is an interesting fact:

Research shows that women are 22.19% more likely to buy the same product or services regardless of price, quality, convenience, or brand promise than men. (Source: Crowdtwist)

Want to know more about such interesting facts? Read this: 29 Exciting Customer Loyalty Statistics

And now,

It is your turn…

Let us know what you think about customer loyalty. What are those factors that make you loyal to your favourite brand?

Please share your feedback below.

Keep in touch, follow TechOneStop on Facebook / Twitter / LinkedIn / Google+.

Next article: Importance of Customer Loyalty

Siebel IP 2015 : Siebel Composer Overview

What would you say if you see your traditional Siebel Tools has turned into Web based Siebel Tools (Siebel Composer) ?

Well, that made me crazy!

But it’s true! With Siebel IP 2015, Oracle has released web based Siebel tools  – Siebel Composer.

After Siebel Open UI, this is another major feature introduced by Oracle to compete with other could based CRM applications.

But…

Remember,

Oracle recommends to use Siebel CRM Composer only in isolated developer mode as current release is not ready for production environment.

But, nevertheless this is a big step to make Siebel more popular and interesting among developers and business users.

In this article, we will discuss Siebel CRM Composer in details.

That’s enough intro…

Let’s start our discussion with Siebel Composer definition.

Siebel Composer is the web version of Siebel Tools that runs on server. You can access it in any browser using Siebel Open UI client.

Currently it includes some of the functionalities of Siebel Tools. For example, using Siebel CRM Composer, you can make a field read-only or change field label without Siebel Tools.

We will discuss these functionalities in the later part of this article.

Siebel CRM Composer interface:

To give users an inconsistent look, Oracle has built Siebel Composer interface same as Siebel Business Application user interface.

Siebel IP 2015 - Siebel CRM Composer

The items in the first level object explorer (ex: Applet, Business Component) in Siebel Tools are available as screens. You can select any object from side menu icon in the top left corner of the screen.

Lower level objects of the object explorer appears as views and sub views under the screens in Siebel Web Tools.

All attributes of Siebel objects come as fields in Siebel composer.

For example: Name property of Applet object appears as Name field under Applet screen.

In Siebel CRM Composer, you navigate between screens and views in the same way that you do in Siebel application. You can add, update or delete records in the same way you do in any Siebel Open UI business application.

Now,

You might be wondering:

Siebel Composer looks like any other Siebel application.

So, does that mean, lock or unlock object/s is not required anymore before doing any changes?

How to compile changes in repository?

Well…

Same as Siebel Tools, developers must lock an object before modifying it and unlock once modification is completed.

Steps to lock/unlock an object in Siebel Composer:

  • Select the object
  • Click on ‘Lock Object’ from applet menu
  • Modify the object
  • Click on ‘Unlock Object’ to unlock the object.

That simple!

But unlike Siebel Tools, you do not compile any object in repository file. Once objects are modified in Siebel Composer, navigate to Administration – Runtime Configuration > Publish view and publish all changes.

You can publish objects in two ways –

Siebel Composer - Publish

1. Click on ‘Publish All’ to publish all modified objects at a time

2. To publish individual object, select the record and click on ‘Publish’

Now all your changes will be available in repository metadata table.

To verify your changes –

Siebel composer

1. Either you can navigate to Administration – Runtime Configuration > ‘Published Version’ view and check the object record. Object with latest version must be available under ‘Published Version’ view.

2. Or log in to Siebel application and verify all changes. If you were already logged in to application before object modification, then log off and log in again to see changes.

You know about AOM (Application Object Manager), right?

Remember this:

Siebel Web Tools Object Manager (ENU) is the AOM component for Siebel CRM Composer. Currently this component is available only in U.S. English language.

Now,

You have fair idea about Siebel Web Tools.

But you must know other advantages of Siebel Composer as well.

Benefits of Siebel CRM Composer over Siebel Tools:

1. No compilation, no downtime

Really?

If you add or modify any object in Siebel Tools, you have to compile it into repository file. Then you down the server, replace .srf file and restart the server again to see changes in Siebel Application.

Well,

There are some exceptions where you do not need to compile objects ( like workflow) in Siebel Tools. But except few, almost all objects need compilation.

But in Siebel Composer, there is no need of object compilation. You just login into Siebel Web Tools, do required changes and publish it.

All changes will be available in server without any compilation and downtime.

Like Siebel Tools, you can lock/unlock objects in Siebel composer also to stop simultaneous update.

It expedites the overall Siebel configuration process as well.

2. Improved user interface with easy navigation

Like other Siebel applications, Siebel Web Tools has screens, views, applets and fields. It has a separate object manager that helps you to open it as a web client. Due to its enhanced user interface, navigation among objects is easier than Siebel Tools.

3. More efficient web page rendering

How?

For Siebel Tools, Siebel web templates have deeper hierarchy structure in Siebel Business Application. It makes Siebel application difficult to render on different devices like desktop, mobile devices.

But web templates for Siebel Composer have flatter hierarchy structure. It makes web templates flexible to render across wide range of devices.

Flatter hierarchy also helps to reduce server roundtrip to render web pages.

Unlike Siebel Tools, you do not modify .swt files to configure web template files here.

Now you just add or update records/fields in the Web Template Item view of Web Template screen. Also it is not necessary to use table tag to position fields in web template files.

4. More elements for building user interface

Siebel CRM composer includes all objects/properties of Siebel Tools as screens/views/fields. Plus it has few extra fields that are not available in Siebel Tools.

For example:

Template Item Holder Name field is available in Applet Web Template Item view, View Web Template Item view and Web Page Item view. This field captures the name of Item Identifier and helps to identify it easily.

To know the list of new fields available in Siebel Composer, click here.

5. Required less network traffic

Let me tell you how…

You know, Siebel composer has flatter hierarchy of web templates. Also it renders only the necessary elements in user interface. This needs less network bandwidth to deliver web pages in UI.

And last but not least…

6. Enhanced file loading

Besides existing presentation model and physical renderer for views or applets, PM and PR are available for web pages as well. In Siebel Composer, files for PM, PR or framework (required to start the Siebel application) are loaded from manifest.

Now you know what all extra benefits you can get from Siebel Composer (IP15).

Next let me explain:

Siebel Tools objects that are included in Siebel Composer Developer Preview (IP 15):

Applet
DLL
Screen
Application
Integration Object
Symbolic String
Business Component
Link
View
Business Object
Menu
Web Page
Business Service
Message Category
Web Template
Class
Pick List
Table
Command
Project
Type

And:

Siebel Tools objects that are not included in Siebel Composer Developer Preview (IP 15):

 Assignment Attribute  Icon Map  Server Component Type
 Assignment Criteria  Import Object  System Activity Object
 Bitmap Category  Pager Object  Task
 Content Object  Repository  Task Group
 Dock Object  Schema Maintenance Phase  Toolbar
 EIM Interface Table  Schema Maintenance Process  Workflow Policy Column
 Entity Relationship Diagram  Schema Maintenance Step  Workflow Policy Object
 Find  Search Category  Workflow Policy Program
 Help Id  Search Engine  Workflow Process
 HTML Hierarchy Bitmap  Search Index  

You know what?

Once you upgrade your Siebel application to IP15, all file based contents for Siebel web templates turn into table based contents. Due to this web template migration, Incremental Repository Merge for IP15 takes longer time than earlier version.

Also make sure that the ‘EnableResponsive‘ parameter is set to ‘TRUE‘ for all Siebel applications that use responsive web design feature. By default, value of this parameter is set to ‘FALSE‘. This parameter enables Siebel CRM Composer for that Siebel application.

And…

How to modify this parameter value?

To change the parameter value, navigate to Administration – Server Configuration screen and search for the component of the Siebel application. Then you go to component parameter list and update the parameter value.

Now we are at the end of the discussion…

But wait a minute:

Before closing this article, let us tell you few features that would come in future releases.

As per Siebel Composer Bookself published by Oracle, below features will be included in future releases

  • WYSIWYG (What You See Is What You Get) display and drag-and-drop functionality in the user interface.
  • Drop-down lists of values for some fields to replace free form text fields in which you enter data.
    • Access to Siebel CRM Composer from within the Siebel application.
  • Management of a multi-user development environment for Siebel CRM Composer.
  • Publication of repository changes in a development, test, and production environment, where the changes are implemented without having to restart the server.

Just to summarize:

Siebel Composer is a good initiative to move Siebel application on the cloud. It also makes configuration process faster and easier.

To know more, please refer Siebel composer bookself.

You know, Siebel IP 2016 has been released recently. In out next article, we will discuss all new features of Siebel Composer – IP16.

What do you think? It is good for Siebel future or not?

Please leave your comment below!

Keep in touch, follow TechOneStop on Facebook / Twitter / LinkedIn / Google+.

Watch YouTube Video on Siebel CRM Composer (IP 15):

Siebel Open UI PM/PR Code Generator Tool

We know, Siebel Open UI is not developer friendly CRM application. A small syntax mistake in Presentation Model or Physical Renderer can ruin your whole day. 

So use our PM/PR Code generator tool to minimize code mistakes as much as possible.

Note: This is the beta version of the tool. We are working on it to add more functionalities and make better user friendly application. Please share your feedback in our comment section. We are eager to hear from you.

PR PR Generator tool



Copy the below script and save it as Filename.JS under '\siebsrvr\public\<lang>\<build>\SCRIPTS\Siebel\custom' folder.
From Siebel Open UI IP2014, there is not separate PM/PR file for Mobile. You could use desktop version for both - desktop and mobile.

To know more about Presentation Model or Physical Renderer customization, please read our Siebel Open UI training articles.

 

Customer Loyalty Statistics – 29 Exciting Stats You Must Know

Have you heard this one – statistics speak for themselves? It is true for customer loyalty statistics as well.

This is the time to prove what we have discussed in our previous articles –

  1. What Is Customer Loyalty

  2. Importance Of Customer Loyalty

  3. How To Build Customer Loyalty

First we will see few generic customer loyalty statistics and then industry specific loyalty statistics.

Customer Loyalty Statistics:

Customer lotalty statistics

Acquiring a new customer is five times costlier than retaining an existing customer. (Source: Forrester)

Customer Loyalty - Repeat business 1

80% of a company’s revenue comes from just 20% of its existing customers. (Source: Gartner)


Cross and Up selling opportunities

Probability of selling to an existing customer is 60 – 70% where probability of selling to a new customer is 5-20%. (Source: Marketing Metrics)


Improve Customer Loyalty

Only 1 out of 26 unhappy customers complain. (Source: Customer Experience Statistics)

customer loyalty program statistics

33% of customers would recommend a brand that offers a quick but ineffective response. On the other hand, 17% of customers would recommend a brand that provides a slow but effective solution. (Source: Nielsen-McKinsey)

repeat customer statistics

 A 5% increase in customer loyalty would increase the average profit per customer by 25% – 100%. (Source: TheLoyaltyEffect)

customer loyalty statistics 2016

It takes 12 positive experiences to make up one unresolved negative experience. (Source: Understanding Customers by Ruby Newell-Legner)

why is customer loyalty important to an organisation

brand loyalty statistics 2016Customers who rate you 5 on a scale from 1 to 5 are 6 times more likely to buy from you again, compared to ONLY giving you a score of 4.8. (Source: TeleFaction data research)

importance of customer loyalty for marketers

explain the factors that influence customer retention

rewards program statistics

61% Americans and 54% Europeans switch brands just because of price. (Source: Nelson)


customer retention statistics

55% of customers would pay extra for a better customer experience. (Source: Defaqto Research)

lotalty statistics

86% of buyers will pay more for a better customer experience. But only 1% of customers feel that vendors consistently meet their expectations. (Source: CEI Survey, Forbes)

building customer loyalty

Customer Loyalty Statistics for Marketers:

Customer Loyalty
Loyalty Management Market is expected to grow from USD 1.4 Billion in 2015 to USD 4.0 Billion by 2020. (Source: PR Newswire)


customer loyalty statistics for marketers

More than 90% of companies currently have some form of customer engagement or loyalty program. (Source: Accenture)

loyalty in relationships statistics

70% of buying experiences are based on how the customer feels they are being treated. (Source: McKinsey)

customer retention stats

89% of customers have stopped doing business with a company after experiencing poor customer service. (Source: RightNow Customer Experience Impact Report)


strategies to maintain customer loyalty

Build Customer Loyalty

Retail Customer Loyalty Statistics:

Retail customer loyalty statistics

The biggest challenges retailers face regarding their loyalty programs relate to technology, strategy, financial management and people/talent.

  • Keeping up with the underlying technology (mobile and digital capabilities) or investing enough in technology (40 %)
  • Keeping up with competing loyalty programs (33 %)
  • Managing the liability and financial complexity of the program (33 %)
  • Having enough people and the right kind of talent required for today’s loyalty programs (30 %)

(Source: Accenture research report)

Retail lotalty statistics

(Source: Accenture research report)

Travel Customer Loyalty Statistics:

Travel customer loyalty statistics

68% of 2016 Fliers Belong to at Least One Airline Frequent Flier Program. (Source: airlines.org)

Travel customer loyalty

40% of travel loyalty program members tell friends and family about a program following a positive redemption experience. (Source: Collinsonlatitude)

Travel loyalty statistics

33% of travel loyalty program members actively encourage family & friends to join the program following a positive redemption experience. (Source: Collinsonlatitude)

Hotel Customer Loyalty Statistics:

Hotel customer loyalty statitics

40% of customers choose to enroll in hotel loyalty/rewards programs based on convenience of locations. (Source: Hotel Loyalty Rewards Program Satisfaction Report 2016)

Hotel customer loyalty progran

68% of millennials will remain loyal to a program that offers the most rewards – Cash / Freebies, Upgrades and Discounts. (Source: Internet Marketing Inc)

Restaurant Customer Loyalty Statistics:

restaurant loyalty program statistics

(Source: Oracle)

Now,

Tell us what you think about customer loyalty. Is customer loyalty required in every industry?

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