True customer loyalty is not a vague or intangible emotion. It is a definable and manageable motivator of human behavior that crosses all cultural, social, and economic boundaries, and exists in every relationship we have. Measuring customer loyalty is an extremely powerful tool for growth in any organization. If it is measured correctly, analyzed accurately, and delivered to those who can do something about it. Organizations often make the mistake of forgetting to maintain their loyalty. They forget to think about what their clients need from them, what they will respond to, and how their behavior can be changed.
Think about this, do you ever ask yourself, "Do I know when one of my clients is about to walk out the door?" You should ask yourself this because it's a business question that needs to have an answer. Here's something else to think about when measuring customer loyalty. According to the Harvard Business Review, 28% of "dissatisfied" customers intend to remain with the company. Now flip it to "satisfied" customers, and just 20% reported having the intent to leave an organization. So what am I trying to you tell?
You need to understand where you stand with your customers. Not only is revenue walking out the door when clients leave, but a piece of your reputation leaves as well. Some people say, "Not every battle can be won." Well, the truth is, not every battle is a loss. Start by rethinking how your approach to measuring customer loyalty. Especially, if you're having trouble understanding your client's happiness. It's possible the solution is right in front of you.
The Solution To Measuring Customer Loyalty
If I've said before, and I'll say it again. None of your clients will ever tell you when they've started considering your competitor as a solution. So what is the solution to figuring out your customer loyalty? You work on developing 4 fundamental skills for MEASURING, BUILDING, MAINTAINING, and COMMUNICATING loyalty.
How Do You Develop The 4 Fundamental Skills?
You a take a moment to learn how we build these 4 fundamental skills. We focus on gathering real-time customer feedback and converting it into actionable customer relationship insights. And guess what? We've built one of the largest loyalty intelligence databases ever created. We have over 10,000 real-life case studies and 1 million customer data points. We're also able to measure relationships with a 90% accuracy rate. We don't just collect data and analyze strengths and weaknesses for each of your relationships. We specify which behaviors responsible for each result.
Whether it's a salesperson or an account manager, we offer an instant analysis of the impact their strategies and initiatives are having on their relationships. So why not take a moment to chat with us? Remember, your clients won't say when they're going to leave. But that doesn't mean you can't change their mind before they do.