Outlook Journal, September 2006
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These days, customer loyalty can often seem elusive. There are countless choices of products and services available to customers, as well as a steady flow of new providers entering the marketplace with new ideas and price points.
At Accenture, we are extremely proud that of our top 100 clients, 96 have been clients for five years, 83 have been clients for 10 years and more than one-third have been clients for 15 years. We are grateful to have clients who trust us to help them achieve and sustain high performance. We also share the view that our clients' loyalty is something we must earn every day by providing exceptional service.
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In my 28 years in the client services business, I've never seen such a competitive environment. Earning customer loyalty takes hard work, and yet the ability to establish and nurture long-term relationships also comes down to a very simple principle: being relevant.
Being relevant means seeing possibilities through the eyes of customers and understanding exactly what is going to meet—and exceed—their expectations. It's about painting a clear picture of a better product or service and articulating why your organization is the best one to deliver it.
Being relevant is about being responsive and translating a concept into a tangible and positive outcome. It requires fresh thinking, flexibility, innovation and collaboration. In the services business, being a valued and trusted provider also means being up front with clients when things don't go according to plan . . . and then making it right.
Being relevant is about making personal connections. Technology can keep us in touch with customers at all hours, but nothing will ever replace the face-to-face meeting. Those personal connections matter and are a hallmark of the kind of relationships that endure over time, despite the ups and downs of the global economy.
This issue of Outlook offers new insights from Accenture's ongoing study of high performance with a feature article exploring the intricacies of customer loyalty. The authors describe key factors that drive loyalty as well as practical steps for attracting and retaining the most loyal and profitable customers. I hope you find this reading interesting and, most important, relevant.
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