In the previous chapter, we have learned how Customer Value data correlates with business results. We saw how much of a connection the Customer Value Added (CVA) score has with market share, loyalty, retention, share of wallet, profits, and so on.
In this chapter, we will go further to study how we can measure loyalty or retention of Customers, and how we can build Value Maps.
Customer Value and Loyalty
To measure loyalty, we ask two more questions in our CVA study. These are as follows:
1.Would you buy this product or service again from this company? and
2.Are you likely to recommend this product, service or company
These are the same two questions used to measure net promoter score (NPS). If you ...