The reasons customers leave follow: · No or little customer contact 67% · Product or service dissatisfaction 15% · Competition 9% · Move or die 4% · U.S. Office of Consumer Affairs says that for every consumer who complains, there are 26 more that remain silent. · Ninety-one per cent of unhappy customers will never purchase again. · Wronged customers will normally tell 8 to 10 people, and now much more with the internet.
Loyalty marketing is the management process of identifying “best customers” and utilizing customer data and insight to create, retain and grow profitable relationships. Best customers are those who are the most commercially valuable – they bring the most profit. Also important are those whose characteristics suggest that they have the potential to become categorized as best customers.
Provide feedback regarding loyalty programs that have worked for your company. Thanks
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