Though companies consider customer loyalty crucial to their marketing plans, they often focus on low-value measures that do not provide significant competitive advantage.
Myth 1: A satisfied customer is a loyal customer
Myth 2: Loyal efforts help you retain business, not acquire new business
Myth 3: Loyalty efforts should focus on the attributes that customers say are most important
Myth 4: Enrollinga customer in a loyalty programme will result in loyalty
Myth 5: Developing personal relationships with customers is the best way for sales to drive loyalty
Myth 6: Employees who don’t face customers cannot affect customer loyalty
Also See Reality, Facts and Action steps (Graphics)
A Mint-Corporate Executive Board initiative on exploring management trends.
Illustration by Jayachandran/ Mint; Graphics by Sandeep Bhatnagar / Mint