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A vendor's brand and image influences
SMBs' perceived customer satisfaction
and loyalty. Brand measurement relative
to the competition provides a snapshot
of current positioning and illustrates
how the vendor can improve its market
image and influence SMBs' perceived
satisfaction.
After prioritizing each customer touchpoint,
making relevant competitive comparisons
and analyzing current brand image, vendors
must create thorough documentation,
process improvement goals and metrics
to focus on the strongest drivers of
increased SMB loyalty and satisfaction.
Without a process-oriented approach
to eradicate errors from each relevant
customer touchpoint, all the data in
the world will not help a vendor make
the improvements needed to increase
customer satisfaction and loyalty.
Value
By understanding the drivers of SMB
loyalty and customer satisfaction, vendors
and service providers will increase
the lifetime value and lower churn of
SMB customers. In addition, loyal SMBs
are more likely to share their positive
experiences with other SMBs at key decision-making
times. For SMBs making purchase decisions,
advice from other SMBs is their number-one
information resource—beating out
trade magazines, sales channel information
and technical magazines.
The drive to maintain competitive differentiation
is heightened in a world of increasingly
similar technology products and services.
A process-based, customer-satisfaction-oriented
vendor has a long-term advantage over
the competition—an advantage that
is extremely difficult to replicate.
A vendor's highly loyal SMB customers
create a formidable obstacle to competitive
attacks, especially when reinforced
by an effective brand.