Customer loyalty is one of the key factors in growing your profitability. You need to have a stable of customers who come back and buy your products and services. This creates a foundation or a springboard for you to take off from.
One of the biggest misconceptions in business is that a happy customer is a loyal customer. Many organizations (including some of my clients) score very high on customer satisfaction surveys, yet struggle to retain their customers. Who cares if customers are happy if they do not stay?
Instead of having blind acceptance that the customer is always right because they are happy, organizations need to focus on stratifying their customers. Who are your best customers (your “A” ...
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