Retaining Customer Loyalty General Electric

In order to rise above competition, the company is committed to providing the highest quality of technical support to its clients, as demonstrated by its purchase of ATG. This software would result in reduced costs, increased revenue, and improved customer retention.

Specifically, the software gives the company the ability to reduce the time involved in solving customer queries and concomitantly increasing the volume of calls that can be handled. Furthermore, the queries and calls referred to higher levels of the companys management is decreased by centralizing the customers access to relevant information sources. The quality and content of this service are also improved by analyzing daily interactions with customers. The service is made more efficient and accurate in this way. Finally, revenue opportunities are also increased by a feature that suggests up-sell and cross-sell possibilities.

According to Business Wire (2005), Genpacts RightAnswers Knowledge-Pak libraries also integrate with the ATG software. These libraries contain answers to common problems, which helps technicians to quickly and efficiently provide customers wit resolutions to common problems. Concomitantly, workers can put greater effort into the more complicated problems with the help of the ATG software. Both uncomplicated and more complicated problems therefore receive due attention from technician and customers experience a higher level of service.

In this way, ATG provides the company with the capability to remain market leaders by means of excellent customer service. Genpact and General Electric as a whole understands that such customer service is at the basis of retaining customer loyalty and retention. Such excellence is maintained by means of the combined elements of the best people wit the best information. By means of ATGs technology, the call center agents provide customers with expert resources of information for any specific problem they may encounter. Such call center services also provide GE with a favorable image among customers, and inspire their loyalty.

This loyalty is monitored by means of a very simple pioneering questioning method that GE implemented during 2006 (Samuelson, 2006). Historically, customer satisfaction has been measured by three questions that solicit information regarding experiences with service, whether the customer will return, and whether customers will recommend the company to family and friends. General Electric however reduced these three questions to a single one, requiring customers to rate on a scale of 1 to 10 the likelihood that they would recommend the company to others. This has significantly simplified GEs ability to project future customer loyalty and satisfaction.

In its marketing strategy, GE also uses sponsorship to promote its business abroad. The most recent example is the Beijing Olympics (OConnor, 2008). The companys sponsorship of star swimmer, Michael Phelps, has increased its revenue and market presence in China significantly. GE has 15,000 employees in the country, and a further 15,000 in sourcing. Although GEs presence in China is hardly the largest of its global operations, the country is nonetheless important in terms of the companys future growth and strategy.

Specifically, General Electric is building its global image as environmentally responsible developer by providing China and other countries with technology such as wind turbines and rain water recycling systems. In this way customer loyalty is ensured on both the global and local scales.

Sources

Business Wire. (2005, Dec. 12). General Electric-Owned Genpact Delivers Superior Customer Service with ATGs Progressive Call Center Technology. Database: FindArticles. http://findarticles.com/p/articles/mi_m0EIN/is_2005_Dec_12/ai_n15929810/

General Electric (2008). GE Citizenship: Building a Customer Focus. http://www.ge.com/citizenship/performance_areas/customers_focus.jsp

OConnor, Ashling (2008, Aug. 21). Thrilling Olympics give General Electric a surge in power. The Times. http://business.timesonline.co.uk/tol/business/industry_sectors/media/article4576410.ece

Samuelson, Walt. (2006). Customer Satisfaction Simplified. Ad Revamp. http://business.timesonline.co.uk/tol/business/industry_sectors/media/article4576410.ece.

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