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.
The AutoIndex study is considered a unique and valuable supplement to the types of Customer Satisfaction surveys that we perform ourselves.
I have personally worked with Loyalty Group in both my current and my previous job (President, Toyota Norway) and to sum it up, I am happy to recommend both Loyalty Group and the AutoIndex study to other NSC’s.”
– Alar Metsson, President, Toyota Denmark (2021)
At Mindline, we apply AutoIndex on all the educations and pieces of training where they are available to us from the NSC. Our experience from the training where it is used versus where it is not, is that there is a clear effect on the participants’ understanding of why there is a need to develop and improve the customer experience.
This simply means that the effect of education and training will be far greater and thus more value-creating for both the NSC and the dealers who send their employees on training and invest both time and money in this.
The AutoIndex reports are for Mindline as a trainer, a fantastic tool and a simple way to present facts and inspire behaviour change so that customers get the optimal experience. It saves us a lot of time on the courses and makes them significantly more efficient and relevant for the participants.”
– Jørgen Faddersbøl, CEO, Mindline (2022)
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)
Over the last 3 years, the Loyalty Group team has inspired us in our work on our “Consumer Journey”, which the new organization now takes to the next level.
I hope we get the chance to work together again in my new job as CEO of Volvo Car Turkey.”
– Magnus Boman, CEO, Volvo Car Denmark (2020)
The corporation with Loyalty Group and the AutoIndex study 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)
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, Jan Nygaard (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 25 years.
You can also be inspired by our knowledge of customer loyalty or read more about our solutions and research.