Increase Customer Loyalty
Issue: Your company needs to increase customer retention, and better understand what drives customer satisfaction, loyalty and advocacy—and leverage this knowledge to improve them all.
The financial benefits of increased customer and employee loyalty are significant: more loyal customers transact more, are less likely to leave, and more likely to recommend your company, product or service to friends and colleagues. And the impact customer experience has on loyalty is provable. So where (and how) can your customer experience best boost loyalty?
What if your company could:
- Track your customer experience to key aspects of customer loyalty, including likelihood to recommend, increased share of wallet and transaction frequency?
- Have a line of sight between customer experience and your Net Promoter® (NPS®) scores?
- Identify the individual touchpoints that have the greatest impact on customer satisfaction, loyalty and advocacy (both positively and negatively)?
- Understand how investments in specific areas of customer experience can increase overall satisfaction and loyalty?
Approach: Keeping the right customers longer begins with understanding where you stand now, and how brand and customer experience drives them to loyalty and advocacy
By measuring brand loyalty-related benchmarks such as current and earned loyalty, and combining these with an understanding of retention and referral drivers, you'll know where you stand and see where to improve. This is where Loyalty Mapping, a proven approach to understanding, measuring and improving customer and employee loyalty, comes in.
Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, inc., Bain & Company, and Fred Reichheld.
