What is this practice and how effective is it?
Loyalty management is the process of managing and measuring customer loyalty and ultimately improving the long-term performance of the business. But loyalty is often confused with satisfaction. Recent research on measuring loyalty offers companies new opportunities to turn loyalty management into a winning formula. But few companies have heard the message or reaped the benefits. We will learn from recent research how firms can focus on loyalty as a key strategic theme.
Alternative names and related topics: service-profit chain; customer aggravation index; customer retention; customer surveys; net promoter score
In the industrial age, owning production and distribution capacity ...