There has been a notable focus on the importance of meaningful, authentic customer relationships in 2020. Here’s why and what that means for your business.
Every year Forrester releases a set of business predictions.
This well-known and trusted consulting agency uses deep-rooted data to make solid projections for the year to come. It’s a handy tool for businesses to keep their eyes on overarching trends in order to make smart and sustainable business choices.
Forrester’s predictions for 2020
Nearly half of Forrester’s predictions for 2020 indicate the importance of building robust relationships between customers, employees, and businesses.
Consumers today are increasingly seeking deeper meaning in life and are aligning their purchases with their values. 2020 is the year of authenticity. You simply can no longer afford to pay lip service to values.
How strong and authentic customer relationships will benefit your business in 2020
“Some companies will provoke ire by making surface-level commitments. Others will misjudge how to best express values. Companies that do succeed will co-create values-driven experiences with customers and employees. They’ll pay careful attention to authenticity, both in the values they choose to express and how they express them.”
Customers and workers are taking responsibility for their commercial and business choices and they want to be sure that you share similar value. Data shows that if you do, customers will stick around for the long-term, and will also willingly advocate for your brand.
In fact, they generate up to 80% of your indirect income through referral work and 20% of your overall direct income with their regular purchases.
You can read our blog post about the value of loyal customers in 2020 here.
Learn more about our customer service platform and how it amplifies the power of your loyal customers.