How to use customers’ habits to increase customer loyalty
Customer satisfaction is now subject to controversy as far as its effect on customer loyalty is concerned. As we recalled in a presentation on loyalty strategies that we have given ca. 10 times in Belgium in 2012-2013, customer satisfaction accounts for a maximum of 10% in customer retention. What this means is that 90% of customer loyalty is NOT influenced by customer satisfaction. Although many different antecedents exist, some theorists say that habits are at the...
The relevance of customer satisfaction in SME
Below is the introduction of a working paper on the relevance of customer satisfaction for Small and Medium Enterprises. The purpose of this academic paper is to show the gap which exists in the literature on customer satisfaction and customer loyalty between what has been studied (big companies) and what actually constitutes the very essence of business in Europe, i.e. small companies. This paper is also put at your disposal in a viewer below. Introduction...
Loyalty and customer satisfaction in online commerce
A study by Taiwanese researchers recently caught my attention. It is studying the link between the online interface (that is, the website) and customer loyalty. Researchers have pointed out that while the satisfaction factor is considered one of the most critical factors in customer loyalty, it is, unfortunately, not the only one. Remember that satisfied customers can quickly desert when transition costs are low, and dissatisfied customers can remain loyal when transition costs are high. A...
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