Creating customer loyality
Loyality isn`t just loyality
Some of our clients proudly report customer satisfaction rates of around 95%, but less proudly of churn rates of 8%. It isn’t those 5% of customers who state that they are dissatisfied that are leaving though. These companies boast consistently satisfied clients but nevertheless lose approximately 10% of them every year.
At rheingold we’ll help you get to the bottom of this phenomenon. The conflict between high satisfaction levels and high churn rates lies in the fact that there are some very different types of loyalty, especially where loyalty relates to different sectors. Insurance companies and banks, for instance, engender a completely different type of loyalty than, say, cars or fashion do. Simply knowing your customers or measuring how satisfied they are just does not cut it.
You need to research the factors determining customer loyalty as it relates to your company and your industry in order to successfully attract and retain customers.
Of course, we would love to help you.