Companies can’t hide behind their brands or clever advertising. Customers want to do business with transparent and authentic companies that don’t try to hide their actions. Trust is the foundation for lasting customer relationships. It’s difficult to build and can easily be broken, but when treated carefully, it can be incredibly powerful. Here are four stories from the week that show the importance of building trust and understanding customers.
Perhaps more than anything, customers love to be appreciated. And everyone loves a free perk. Loyalty programs play a huge role in customer experience. Not only do they reward devoted customers and encourage people to come back to the company, but they can also promote brand awareness.
It’s been a good year for Marriott International, with an estimated market value of $35 billion (according to Forbes). Just five years ago Marriott stock was $36 dollars, today it’s $107 a share. Clearly this is a company with a strong growth strategy. The CMO has held a critical role in its growth.
Last year Marriott bought Starwood Hotels. The $13 billion merger created the world’s largest hotel company with more than 1.1 million rooms and about 5,700 hotels in more than 110 countries. The merger combines Marriott brands, including Ritz Carlton, Courtyard and Residence Inn, with W …
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