LOYALTY EXPLAINED
WHY LOYALTY?
Our research shows that loyalty is a stronger predictor than NPS when it comes to acquiring new customers, retaining existing ones, and increasing the amount customers are willing to spend.
We understand that if businesses are to grow, they need a holistic approach to improving their service. They need to understand customers' problems effectively, and be confident that they're focusing their energies in the right place. Our loyalty metric enables them to have that confidence.
WHAT IS LOYALTY?
We define loyalty as a customer’s willingness to carry on buying a brand, pay, or spend more for the pleasure, share positive experiences they might have, or choose a brand over their competitors. Loyalty is complex; comprised of both rational and emotional feelings, with each playing a part in the choices of consumers.
LOYALTY IS MULTIFACETED
HOW DO WE TARGET
Our research revealed a powerful segmentation which enables us to predict attitudes and behaviours. The segmentation helps to facilitate targeting, allowing brands to focus on particular sections of their customer base. For instance, some customers can be defined as Fickle Friends - customers who are using your brand but not 100% happy - or Savvy Seekers - those who are serial switchers, accustomed to finding the best deal. Identifying what type of customer you're dealing with gives you the information you need to convert them into Supporters or even Devotees. Segmenting customers and leveraging the building block analysis is a sure fire way to improving retention, boosting acquisition, and increasing their share of wallet.
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