Enable customer value to maximise customer lifetime value

By Indranil Mukherjee, Senior Vice President and Service Offering Head, Infosys Salesforce Services

Consumer expectations continue to rise. In the sixth edition of an annual survey of service professionals undertaken by Salesforce, 80 percent of agents said customers were asking for more than they did before. And what do customers want? An earlier Salesforce survey – this time of consumers – named good customer service, immediate attention from service staff, and that companies adapt to their changing preferences, as the top three demands. Meeting these and other customer expectations, a huge body of research says, is crucial for maximising retention, brand loyalty and revenue.  

Hence that is what organisations must do if they are to meet their business targets. But it may not be as straightforward as that. A recent report by a well-known consulting firm says consumers’ desire for  value  amid rising prices is leading to unpredictable buying behaviours ...