Given growing product commoditization and diminishing brand differentiation, building customer loyalty through strong customer service interactions is becoming increasingly vital for companies. In light of this change, companies should re-evaluate their long-held beliefs about the role of customer service in increasing loyalty. Six myths about customer loyalty are dispelled here, with some advice on what companies should focus on within the service organization to drive customer loyalty.
A Mint-Corporate Executive Board initiative on exploring management trends.
Also See | Rethinking Customer Loyalty (PDF)
Illustrations by Shyamal Banerjee; graphics by Ahmed Raza Khan/Mint
To view the Six Myths series, log on to www.livemint.com/sixmyths