Happy 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 19% of respondents believe that their executives regularly support decisions to trade off short-term financial results for longer-term customer loyalty.

The bottom line: Don’t underestimate the value of customer loyalty

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

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