Customer loyalty is key to increased growth
Loyal customers spend more, are more frequent buyers, and stay with you longer. Which is why it pays to invest in customer loyalty.
Customer loyalty is key to increased growth. In fact, loyalty is actually the master key for unlocking other opportunities: aside from generating add-on sales to existing customers, it helps you by reducing customer churn and by attracting profitable new customers based on referrals from your existing ones.
So what does it take to win your customers’ loyalty? Firstly, insight. Insights into your customers’ experience, satisfaction and current loyalty level. Insights, which can be transformed into increased customer loyalty and resulting financial growth.
There’s a difference between satisfaction and loyalty
Far too many companies have a blinkered focus on customer satisfaction. Because there’s a fundamental difference between customer satisfaction and customer loyalty: A loyal customer is satisfied, but a satisfied one is not necessarily loyal.
Customer satisfaction is indicative of current customer attitudes to what has already happened whereas customer loyalty is predictive of future behaviour. Once you have insights into the individual customer’s loyalty and the underlying causal factors, you can then launch a targeted drive to retain or further engage that customer – or even disengage from a detractor. Download the inspiring white paper on “The 10 Commandments of Customer Loyalty”.
How to progress from insights to loyal customers
Loyalty Group is known for its consulting informed by in-depth customer insights. With more than 25 years of experience, we have gathered vast insights to share in helping you achieve improved customer loyalty. We recommend the following tried-and-tested process:
- Scoping project: Mapping customer touchpoints, the need for insights in the organisation and the revenue potential of improved customer loyalty
- Loyalty segmentation: Categorising customers into loyalty segments based on recognised models like NPS or other loyalty metrics
- Causal factors: Explaining the causes of each customer’s loyalty status and identifying relevant action areas
- Business interpretation: Includes interpretation of survey data and specific priorities and recommendations for actions to boost customer loyalty
- Motivation workshop: Involving your staff to build their awareness and motivation for your customer loyalty drive
The bottom line: Contact us!
Do you want more insight into the customer loyalty that can ultimately be measured on the bottom line? Then contact us at +45 7025 2627. If you want to read more first, you are welcome to download our white paper “The 10 Commandments of Customer Loyalty”. Just fill out the form below.
At Lexus we see great value in the detailed market insight that AutoIndex gives us.
Both the results of the survey and the professional competence of the Loyalty Group consultants are highly valued by both us and our dealers.
Results and the accompanying advisory from Loyalty Group are used in both strategy development, marketing and dealer development."
- Jan Christian Holm, General Manager, Lexus Norway (2022)
The commitment shown by our Loyalty Group contacts is impressive, and it goes without saying that they are passionate about communicating their findings and recommendations. This is highly contagious and makes it easy for us to gather cross functional groups for work meetings, which is something many people really look forward to.
In executing of their work, Loyalty Group is an extremely professional partner, also in the more formal matters."
- Per Christian Huse, Marketing Manager, Toyota Norge (2021)
Loyalty Group has a lot of knowledge about how successful sales processes and customer journeys build loyalty over time. This gives us a very good basis for how we can develop in relevant areas and forms the basis for our further improvement work in the organization.
Based on our many years of collaboration, I can only give the AutoIndex study and the Loyalty Group consultants my very best recommendations."
- Jan Christian Holm, General Manager, Lexus Norway (2021)
Loyalty Group has helped our organization to recognize our shortcomings and thus motivate us to do something about it.
Working with Loyalty Group can sometimes be a bit challenging because Loyalty Group's approach is very direct. It can at first sight be perceived as an attack on our current working methods. After several years of collaboration, however, the conclusion is that this approach is solely due to Loyalty Group's sincere passion to create the best customer experience for our customers."
- Troels Nielsen, COO and Michael Rasmussen, Director of Sales - Jan Nygaard A/S (2021)
Since 2016 Bayern AutoGroup has worked in depth with Loyalty Group and the AutoIndex results in the ONE BMW family. More specifically, Bayern AutoGroup has had a specified AutoIndex analysis prepared each year for its own customers on store level.
The work has resulted in changed business procedures, updated guidelines and a general optimization of Bayern AutoGroup. The result is indisputable - Increased customer satisfaction, increased employee satisfaction and increased earnings at Bayern AutoGroup."
- Søren Vinderslev, CEO, Bayern AutoGroup (2021)
Download white paper
Here you can download our white paper “The 10 Commandments of Customer Loyalty”, written by Mikkel Korntved, Loyalty Group.
Our white paper describes several key areas that should be a natural part of any company’s customer orientation – but why do most of the business community not comply with them?
If you want to know more...
Read much more about Loyalty Group and our experience for more than 30 years.
You can also be inspired by our knowledge of customer loyalty or read more about our solutions and research.