Customer Loyalty
Purpose
Customer loyalty research is implemented to uncover the factors that determine if customers will repurchase or switch to the competition. This improves predictions about customer behavior in the future.
Process
Conduct baseline quantitative research using different methodologies.
Analyze and interpret data.
Monitor critical Customer Satisfaction Measurement (CSM) issues and assess levels of performance improvement.
Benefits
Deliver indicators on intent to repurchase and intent to recommend, based on measures such as current levels of satisfaction, share of wallet, willingness to recommend and intention to repurchase.
Identify competitive information to help drive business decisions by separating value from price.
Improve business and sales activities planning.
Case Study
A large Fortune 500 bank wanted to determine the level of their Customer Loyalty Index (CLI) in one of their major divisions. A loyalty tracking system was developed by measuring ongoing satisfaction and loyalty measurements on key customer contact events and crucial points within important processes.
Result
A CLI was designed to show indicators of how satisfied customers are and what attributes determined loyalty. Key changes were made in customer service and product delivery.
