Do you believe your organization is truly customer-centric? Research into customer buying behavior would predict that a random sample of your customers would say they are very satisfied with the products or services of your company eight out of ten times.
That would make most executives feel pretty good, wouldn’t it? That is, until second level customer loyalty questions are asked regarding whether they intended to endorse or repurchase products and services from your company. When these questions are asked the research predicts that you may not like what you learn.
Most executives intellectually understand that customer loyalty drives growth and profits. Yet the way many companies treat their customers, they undermine their ability to earn customers’ loyalty. All too often customers who appear to be very satisfied with a product or service are only as loyal as the next best price offer made by your competition. The question is raised: Why are highly satisfied customers not necessarily loyal customers?