A person who deserves my loyalty receives it.
—Joyce Maynard, writer (1953–)
In terms of valuing loyalty as a shopper currency, it is easier to start with what it isn’t. It isn’t advocacy (that’s valuable, but it’s a separate behavior); it isn’t “satisfaction” or any score describing satisfaction; it isn’t the “brand used most often” (BUMO) or favorite brand; it isn’t brand evangelism (again, that’s valuable, but it’s not part of this discussion). In terms of shopper currency, loyalty is a commitment to buy a brand or product in the future. It’s the promise of a future purchase, and in this sense it is the probability of a future stream of revenue.
Loyalty is about a commitment to buy. All managers want more ...