I have become a Co-Program director for the Customer Equity Initiative that has been launched by the Association for the Advancement of Relationship Marketing (AARM). The Customer Equity Initiative is focused on helping companies build customer equity which is the key to sustainable growth and profits. Customer Equity is the wealth creating potential of a customer’s relationship with your company. While most companies continue to compete on price and convenience and focus on efficiency and cost cutting, some have engaged their customers in meaningful relationships and have had remarkable success. Starbucks may be the most prominent example as they serve4 million drinks a day to customers who are there more for the experience than the coffee.
Why would someone who focuses on engaged employees get involved in this? Well, the employee is arguably the most critical factor affecting the customer’s experience. Engaged employees are therefore key to customer equity.
I believe this is an exciting new program and invite you to check it out at www.customerequity.org.
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