Customer Loyalty is today’s Holy Grail. Once you understand your customer’s needs and wants, you will increase loyalty, advocacy and retention. Measuring your customer’s lifetime value will help you understand how likely your customers are to recommend you to others. All of these will produce financial benefits to you.
The most important aspect of customer loyalty is understanding how loyal your customers are now and what exactly drives their satisfaction, loyalty and advocacy.
By measuring loyalty-related benchmarks as well as identifying retention and recommendation drivers, you will understand where you can improve.