Driving Customer Loyalty and Retention
Customer and employee loyalty is the basis for retention, advocacy, repurchase and increased profits.
Customer loyalty has a proven, positive impact on financial outcomes, measured through metrics such as increased retention, increased current and future spending, and new customers that have been referred through word-of-mouth.
The challenge? Developing a lens through which to see what brand experiences and customer behaviors drive the relationship between loyalty and financial outcomes. Satisfaction has been a widely used metric, but satisfied customers defect with alarming regularity. Why? Because satisfied customers are not always loyal.
At MCorp, we leverage Loyalty Mapping, a proprietary tool which helps our clients see and understand current loyalty, and chart a path to improving it.
By measuring current and earned loyalty and retention drivers, Loyalty Mapping gives organizations a clear understanding of where their customers stand and then clarifies priorities, highlighting those activities that will most effectively drive increased loyalty, retention and profitability.