Shep Hyken interviews Mark Ross-Smith a.k.a Mr. Loyalty and the CEO and Co-Founder of Loyalty Data Co, the parent company of StatusMatch.com. He talks about the roles of transactional and emotional incentives and how brands must learn to balance the two to build long-term customer loyalty.
“When customers are emotionally invested in a brand, they tend to spend more money, engage more, tell their friends, and are more accepting when things go wrong.”
“Be a customer of your own product. Learn the challenging situations that your customers face throughout their experience. Being a customer of your business is fantastic training for learning how to improve the customer experience and the loyalty experience.”
“True loyalty is a two-way street. The customer shows brand love through transacting and being loyal even when they have other options. The brand rewards their loyal customers through emotional incentives and providing them with a great experience.”
Mark Ross-Smith, a.k.a Mr. Loyalty and the CEO and Co-Founder of Loyalty Data Co, the parent company of StatusMatch.com, a loyalty platform that helps individual consumers and corporate clients get equivalent value status with a competing airline and hotel.
Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.
This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:
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