Chewy believes that good experience builds loyalty and is crucial for brand retention. They focus on providing personalized care and service, similar to a local neighborhood pet store, which AI cannot replicate. This approach has helped them scale and compete against larger companies.
Chewy measures customer service success by the number of resolutions conducted by agents and how quickly they pick up the phone, aiming for a 4-second response time. They do not use metrics like cost per contact, focusing instead on customer satisfaction and loyalty.
At Exos, employee loyalty is crucial as it directly impacts customer satisfaction. The company ensures that employees are passionate about the brand and its values, which translates into better service delivery. They track employee well-being and engagement to maintain high service standards.
Chewy offers a 365-day return policy with no questions asked, allowing customers to donate unused products to shelters and still receive refunds. This generous policy is part of their strategy to surprise and delight customers, building a strong emotional connection and loyalty.
Sumit Singh believes in aligning investor loyalty with the company's mission and values. He ensures that investors understand the long-term benefits of their customer-centric approach, which has led to significant revenue growth and profitability. This transparency and shared vision foster strong investor loyalty.
How do you cultivate loyalty, from investors to team members and, of course, customers? Business leaders have long debated this. Host Bob Safian invites two guests to weigh in with their secrets to brand and company loyalty. Chewy CEO Sumit Singh has built his pet-centric business around customer service and care. And seasoned CEO Sarah Robb O’Hagan has led at Exos, Equinox, Nike, and more – all brands with deep reliance on genuine connections. Hear their conversation recorded live at the 2024 Masters of Scale Summit in San Francisco.
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