I came across this interesting statistic about customer loyalty from 1to1 Media via CRM Mastery E-Journal:
"According to the 2006 1to1 Customer Loyalty Survey, 87 percent of 180 respondents say that their companies understand that loyalty is driven by the overall customer experience created, yet only 38 percent have measurements in place to identify the experiences that are most important to loyal customers."
There is a long list of comments from readers at Harvard Business School's Working Knowledge. It seems that the overall concensus is that offering a great product with great service is what determines customer loyalty. All those loyalty programs and awards, points, etc. do not work - which I totally agree with.
How can measuring and identifying these experiences be beneficial for a company? What do you do with the information? Is it a waste of time?
Amen! Here's the key:
1. Quality Product
2. World-class service
3. Fair price
Posted by: Tom Vander Well | June 8, 2006 1:05 PM | Permalink to Comment