Words Of Wisdom On The 4th Of July

For those of you who celebrate it… Happy 4th of July!

Given the holiday in the US, I’m turning to insight from one of our founding fathers, Benjamin Franklin, who said

“All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse.”

These words should provide a wake-up call to executives that underestimate the value  of customer loyalty. Firms that consistently deliver better customer experiences end up with more loyal customers. But in a recent Temkin Group study, we found that only 17% of respondents believe that their executives regularly support decisions to trade off short-term financial results for longer-term customer loyalty.

The bottom line: Treat customer loyalty as a critical business metric

Written by 

I am an experience management transformist, helping organizations improve business results by engaging the hearts and minds of their customers, employees, and partners. My "job" is Head of the Qualtrics XM Institute. The Institute is still being established, but our goal is to help organizations around the world thrive by mastering Experience Management (XM). As part of this focus, I examine strategy, culture, interaction design, customer service, branding and leadership practices. And, as many people know, I love to speak about these topics in almost any forum. Prior to joining Qualtrics, I was managing partner of Temkin Group (leading CX research, advisory, and training firm), co-founder and chair of the Customer Experience Professionals Association (CXPA.org), and a VP at Forrester Research. I'm a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Check out my LinkedIn profile: www.linkedin.com/in/brucetemkin

One thought on “Words Of Wisdom On The 4th Of July”

  1. Bruce, well said! Many businesses work hard to entice you to buy, but what entices you to return? I am a firm believer that the customer experience begins at the top. How the corporate head honchos treat their internal customers directly relates to how the end customer behaves.

    Miriam

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