In what ways can companies effectively measure the impact of leveraging awards and recognition for customer experience excellence on both customer retention and acquisition in a competitive market?

Companies can effectively measure the impact of leveraging awards and recognition for customer experience excellence by tracking customer retention rates before and after receiving awards. They can also conduct surveys to gather feedback from customers on the impact of the awards on their perception of the company. Additionally, companies can analyze customer acquisition rates to see if there is an increase in new customers following the receipt of awards. By comparing these metrics, companies can gauge the effectiveness of leveraging awards and recognition for customer experience excellence in a competitive market.

Keywords

customer retention customer acquisition awards and recognition customer experience excellence competitive market

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