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Customer Loyalty

About the author

etudiante
Level
Advanced
Study
management
School/University
ESPEME

About the document

Published date
Language
documents in English
Format
Word
Type
presentations
Pages
6 pages
Level
Advanced
Accessed
1 times
Validated by
Committee Oboolo.com
  1. Introduction
  2. Difference between a satisfied and a loyal Customer
    1. The 3 different customer attitudes
  3. Opportunities
    1. How to build customer loyalty
    2. Customer loyalty programs
    3. Improve the loyalty of your customers

With 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.

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