Customer Loyalty
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6 word format
document in english
management
presentation
date published 30/11/2006
review : not yet assessed
level : Advanced
requested 41 times
SummaryWith the globalisation of the world competition has become challenging. Competitors from emerging markets are entering into the developed markets. Attracting new customers has become a more expensive and exhausting business. Therefore the customer is one of the most valuable assets of a company; money should be spent to retain them. It can be 10 times more expensive for a business to find one new customer than to keep a current one. Increasing the customer retention rate can provide a terrific boost and help accelerate growth. Additionally, not keeping your current customers will make you loose money and time.
The first part of this paper will show the difference between satisfied and loyal customers. The second part describes why it is worthwhile to transform your satisfied customers into loyal customers. In the third part advice on how to improve your relationship with the customer and how to turn them into loyal consumers is offered.
The first part of this paper will show the difference between satisfied and loyal customers. The second part describes why it is worthwhile to transform your satisfied customers into loyal customers. In the third part advice on how to improve your relationship with the customer and how to turn them into loyal consumers is offered.
Table of Contents- Difference between a satisfied and a loyal customer.
- Opportunities.
- How to build customer loyalty.
- Customer loyalty programs.
- Improve the loyalty of your customers.
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