Leading off
Welcome to the sixth edition of sportCX, the fortnightly MyCustomerLens newsletter. This week’s topic is listening to your customers. Done well, customer listening can significantly improve retention and hence fuel participation and revenue growth.
Listening to customers – the foundation of successful customer retention
How many customers did you lose last month? How much will it cost you just to replace the members/revenues you already had? Why did those customers churn? If your first thought is “too many”, “too much” and “we’re not sure” then the solution is listening to customers.
Customer retention remains a challenge in many industries, but while the products and language vary, the underlying reasons are remarkably similar. The majority of customers churn because their needs or expectations changed and the organisation didn’t realise. The organisation had data, research and segmentations; but they weren’t actually listening to customers.
Outside-in
GAP respond to feedback from a 5-year-old customer
A nice story that shows that great customer feedback can come from anyone/anywhere. Of course you can’t hear these ideas if you’re not listening..!
Click here to read the full story on Inc.com
Constructive feedback is your most powerful asset. Use it.
Receiving feedback can be difficult, especially when you’ve already worked hard to develop or deliver something. But successful innovation can be fuelled by listening to and collaborating with your target customers.
Click here to read the full story on Inc.com
Are team’s relationships with fans becoming just transactional?
Should sports teams care about the loyalty of their fans?! Interesting article from Seth Godin on the NFL’s decision to let Oakland move to Las Vegas. It asks whether teams should expect, and hence cultivate, a long-term relationship with its fans. Or have bums on seats become more important than who’s in those seats?
Click here to read Seth Godin’s article
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