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 Loyalty versus Satisfaction - What's the Difference?
Satisfaction will not tell you if your customers will defect or your association members will drop their memberships. Loyalty measurement captures the voice of the customer; their expectations and your performance against those expectations, as well as what you need to do to improve. Unlike satisfaction, loyalty encompasses the total customer experience; giving you a foundation for better decision making and action planning. |
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How much is customer loyalty worth to your organization?
Loyal customers are more likely to continue to do business with you, buy more products and services from you (increase share of wallet), are less expensive to service, more forgiving when problems arise (and are quickly resolved), and are more likely to recommend your organization to others.
The Loyalty Research Center helps medium to large-sized organizations across industries to understand...
- the financial value of customer loyalty;
- the connection between customer experience and customer loyalty;
- the link between loyal, engaged employees and loyal customers;
- the loyalty profile of your customer base, why it exists and what you can do to change it (based on the research findings);
- needs-based segmentation to clearly identify the causal nature between customer experience and behavior;
- how to better leverage their net promoter scores (taking it from a simple metric to action);
- why companies are transitioning from customer satisfaction research to customer loyalty research
Loyalty Research Center studies are built upon a scientifically tried and true hierarchical model that is customized to your company. It will show how your customers' experience with your products and services, employees and processes, and if applicable; experiences with your competitors are connected to their loyalty toward your organization.
The Loyalty Research Center's model has also been adapted and validated for associations and other organizations that rely on donations of time (volunteer engagement), financial support, and/or member dues and non-dues revenue to fulfill their missions.
If you represent a medium to large B2B or B2C business (including consultants), marketing communications agency, association or other organization that is challenged to increase customer or member retention, profitability and value, give us a call at 317-465-1990 or complete a contact us request form.