The research of Management 2000℠ and Gallup has shown that customer and team member engagement drives financial performance. Knowing this, we believe it’s worthwhile for every franchise and business to put energy into improving the Brand’s culture.
Measure What Matters
Well-trained and committed team members who enjoy coming to work and believe in the company’s vision are more likely to make positive, lasting impressions on your customers. In turn, those customers feel happy, comfortable and confident in having a reason to return and recommend your Brand to others.
The measurement of these emotional and psychological connections to the Brand and its products serve as definitive, reliable and predictive analytics for your company. We are referring to the Customer Recommendation Index (CRI) and the Customer Belief Index (CBI).
It needs to be noted that both the CRI and the CBI scores can measure regions, different shifts, managers, Franchisees, area supervisors, field consultants, store configurations, customer segmentations and more. When it comes to increasing the profit and growth of your Brand, this information proves to be invaluable.
Creating Engagement is Key
There is a correlation between highly engaged managers/team members and higher levels of customer retention/frequency. No matter what product or service your Brand provides, keeping all parties engaged can have a significant impact on the success of your company.
The proof is in the numbers:
- Highly engaged customers of casual dining chains make 56% more visits per month than actively disengaged customers
- Fully engaged hotel guests spend 46% more per year than actively disengaged customers
- Fully engaged bank customers bring 37% more revenue to their bank than the actively disengaged customers