Trust can Drive up to 44% of Customer Loyalty

According to recent research into the role of trust in customer relationships, communication from a service provider is one of the leading influences.

The study revealed that customer communications drive more than 20% of the overall trust the company receives, which in turn impacts the length of the customer relationship and profitability.

The study reinforces the theory that long-lasting customer relationships are absolutely critical for business success.

Overall, the study results show that trust can drive up to 44% of customer loyalty.

David Newberry, Chief Marketing Officer of Pitney Bowes Business Insight, said:

"Trusted brands build upon each interaction to enable lifetime customer relationships - every customer interaction – in person, on a Web site, with direct mail, or with a call center – is an opportunity to build or break trust. This study validates how crucial customer communications management programs are for positively managing customer interactions and, therefore, for also improving the value and profitability of every customer relationship."

The survey highlights the fact customers are looking for companies that can provide high quality customer care which in turn gives them a feeling of being well looked after. They are also looking for a high level of competency and etiquette from front-facing employees.

Pitney Bowes suggests that companies can reach out to customers and exchange opinions about products and services by using digital technologies and social media.

The study was commissioned by Pitney Bowes in business insight and was conducted by ECSP. The study interviewed 20 senior marketing executives with the aim of gaining a deeper understanding of the importance that organizations place on customer trust. In addition to this survey ECSP conducted an online consumer survey of 2000 residents in the UK and USA. 

About Pitney Bowes Business Insight

Pitney Bowes Business Insight, a wholly-owned subsidiary of Pitney Bowes Inc., is a software and services company that helps organizations to acquire, serve and grow relationships with customers and citizens.

The firm’s suite of customer communications management solutions integrates data management, location intelligence, sophisticated predictive analytics, rules-based decision making and cross-channel customer interaction management to increase the value of every customer communication while also delivering operational efficiencies. Study results: http://www.slideshare.net/pitneybowes.
 

Read more customer service news