Brand loyalty: automakers become relationship service experts

The customer experience (CX) can make or break a brand. Get it right, and you secure buyer loyalty, bolster revenue and position the company for future growth. A 2022 study from PricewaterhouseCoopers (PwC) found that customers are willing to pay up to 16% more for a great experience. It also found that CX leaders can have up to five times higher revenue growth than CX laggards. At the same time, getting it wrong can have dramatic consequences. The study found that 32% of customers will walk away from a brand they love after just one bad experience.

Navigating the automotive CX journey against the backdrop of connected, autonomous, shared and electric (CASE) mobility is no easy feat, but Medallia is here to help. The company specialises in using operational customer experience management to provide companies with a competitive advantage. The key, says Jodi Searl, Vice President of Industry Solutions and Head of Automotive and Powersports, is to listen to your customers, analyse what they are saying and act on it in a way that improves their experience.

“One of the worst things you could do is solicit feedback from a customer and then not do anything with it,” she tells Automotive World. “You are missing great opportunities to not only grow your brand but also grow your business.” Medallia helps companies figure out how to listen at scale and then analyse that into actionable insights. ‘Listening’ can come in many forms and from many sources, such as a customer’s engagement with a website or app.