The Endangered Customer
The second decade of the 21st century is witnessing a convergence of forces moving customer loyalty to the edge of extinction. Customers are empowered by increasing control over the retail process, as the digital, global marketplace delivers ever greater choice and saves them time, money, and hassle. The challenge for companies and brands across all service categories and channels today, from ecommerce, contact centers and brick-and-mortar, is to engender loyalty – but the loyal customer is an endangered species.
Consumer-facing brands have embraced technology as the answer, but according to customer retention guru Richard R. Shapiro, high-tech approaches to attracting and keeping customers aren’t living up to their promise. “Although technology can help with agility and service in general,” Shapiro says, “it is not enough today to sustain long-term relationships and loyalty among consumers who have so much choice and increased control in the selection and buying process.”
In his new book, The Endangered Customer: 8 Steps to Guarantee Repeat Business, Shapiro presents a dynamic roadmap for organizations that want to create loyalty in the age of the empowered consumer. The author demonstrates why and how brand culture must be infused with a “people first” approach, and details a strategy for achieving a personalized, welcoming, and nurturing customer experience that begins with the initial transaction and is continuously and authentically reaffirmed.
Shapiro describes his antidote to the “Switching Economy” as a mindset around continuous care, responsiveness, and involvement that echoes the dynamics of an individual’s closest personal relationships. The eight-step strategy he outlines in The Endangered Customer offers a proven approach to generating a higher percentage of repeat customers. His “Repeat Business Scorecard” is a tool for evaluating the strategy in practice, letting firms measure their performance in each phase.
Richard R. Shapiro’s savvy advice in The Endangered Customer is geared to building a high performing customer retention culture for any business. Follow it to ensure the survival of your endangered customers.
The Endangered Customer: 8 Steps to Guarantee Repeat Business Book Cover (high resolution)
To learn more about The Endangered Customer and read the chapter summaries, click here.