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Customer Advocacy: The Next Generation of Customer Experience Management How is it Different? Why does it Matter?
Customer Advocacy: The Next Generation of Customer Experience Management How is it Different? Why does it Matter?
- by Market Probe
 On Wednesday, October 26th, John Morton, President, Market Probe Canada, presented learning from his ongoing investigations into current trends and developments in Stakeholder Value Chain Management and, in particular, Customer Experience Measurement (CEM). Stakeholder Value Chain Management is the art-and-science of managing a company’s intangible assets; those assets of an organization that rarely show up on an organization’s balance sheet, but that are crucial to its long-term financial health and success: employees, brands and customers. The art-science / science-art of the management of these assets come from the use of such formal feedback systems on the performance of organizations vis a vis their employees, their brands, and their customers. These intangible assets all have a clear impact on retention, share-of-wallet, and customer acquisition.
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It is no longer enough to ascertain if your customers are satisfied, and it is not sufficient to know whether or not your customers are loyal. In today’s hyperlinked world, the relationship between customers and the companies they do business with is a two-way street, with each mutually reinforcing the other.